Practice Management

Out-of-work job seekers may be surprised when they find that IRS records show they not only already have work but are due a refund.

With Democrats and Republicans in Congress battling over competing tax legislation this week, one new bill should be able to attract bipartisan support.

The Internal Revenue Service has issued final regulations and guidance on reporting interest paid to nonresident aliens, along with a revenue procedure listing the countries with which the U.S. has a bilateral exchange of information agreement.

Agents at the IRS’s Criminal Investigation division have been cracking down on tax preparer fraud in Southern California in the waning days of tax season.

The Internal Revenue Service warned on Tax Day that it can assess a penalty if taxpayers fail to file or pay taxes, or both.

Senate Republicans blocked a bill promoted by the Obama administration that would impose a minimum tax on millionaires.

The Internal Revenue Service delayed tax refunds early this filing season for 7.8 million tax returns, according to a report by the Treasury Inspector General for Tax Administration, which also described steep cutbacks in customer service at the IRS.

The New York State Society of CPAs has written a letter to the Internal Revenue Service asking the IRS to clarify several rules governing the reporting of foreign financial assets.

President Barack Obama and congressional Republicans square off this week over tax hikes for millionaires and tax cuts for businesses, with both sides seen as more interested in scoring political points than in fixing the tax code or shrinking the deficit.

While every state offers tax incentives to attract, retain and expand businesses and jobs, few states actually provide good evidence that the tax breaks deliver an effective return on investment, according to a new report.