Practice Management

A group of Republican senators has introduced legislation to prevent the Internal Revenue Service from finalizing for one year proposed regulations governing how much political activity tax-exempt 501(c)4 social welfare organizations can legitimately conduct.

With tax season in full swing, it’s a good reminder that families with household employees have some impending deadlines. As most tax professionals are aware, the often overlooked household employment taxes – or “nanny taxes” – present a unique set of challenges.

The Internal Revenue Service’s new commissioner John Koskinen has released a message to taxpayers for this tax season, urging them to use the agency’s Web site and warning of long wait times on the phone.

The D.C. Circuit Court of Appeals ruled Tuesday that the IRS had no legal authority to impose a nationwide licensing scheme on tax return preparers that would have required testing and continuing education as Registered Tax Return Preparers.

PricewaterhouseCoopers has just joined the rest of the Big Four firms in officially sponsoring the work of the International Valuation Standards Council, which aims to create globally recognized and accepted valuation standards, particularly for financial instruments, and promote quality within the valuation profession.

The Treasury Department and the Internal Revenue Service issued final regulations Monday implementing the employer shared responsibility provisions of the Affordable Care Act, also known as the employer mandate, providing additional time to small and large businesses.

Harvard University pledged to ensure restitution for as many as 11,000 employees after two of its faculty pointed out the impact of a tax error by the school.

Some of our favorite recent tax fraud cases …

The Internal Revenue Service is warning taxpayers to be sure to notify the Social Security Administration before they file their taxes if they have changed their own name or the name of one of their dependents has changed. Otherwise their tax refund could be delayed.

The Internal Revenue Service has issued a revenue procedure to help taxpayers with so-called “mezzanine” financing in workouts and similar circumstances when they have debts that have been discharged in connection with real property.