Practice Management

A trio of House Democrats have introduced a bill that would provide tax relief to homeowners who were wrongly foreclosed upon and receive money from the recent nationwide mortgage foreclosure settlement.

When someone drives down the highway and spots a police car on the side of the road, a sense of paranoia overwhelms the individual even though no law has been broken.

The House Ways and Means Committee has passed a Republican-sponsored bill aimed at reducing taxes for small businesses that would also benefit larger companies.

The Internal Revenue Service said Tuesday that it would provide penalty relief to farmers who incurred estimated tax penalties because they did not receive their 1099 forms from MF Global or the bankrupt financial firm’s court-appointed trustee on a timely basis.

Congress approved legislation Tuesday intended to spur investment in small businesses and help them access the capital markets, despite criticisms that it would weaken audit safeguards and investor protections.

The Internal Revenue Service has made organizational and administrative changes in the programs governing agreements between large businesses and the IRS over how tax transactions can be reported, particularly for multinational corporations using transfer pricing.

Bloomberg BNA has published the latest edition of its “Tax Essentials: Individuals” reference as both a printed book and an e-book that can be downloaded from Apple’s iBooks store.

The Internal Revenue Service said that reporting partnership interests using Form 1065/Schedule K-1 would be optional for tax year 2011.

Senate Republicans are allowing a Democratic bill to go forward that would end tax subsidies for major oil producers.

The U.S. Supreme Court held the first day of a three-day hearing on the constitutionality of the Affordable Care Act, starting with a consideration of whether an 1867 law blocks consideration of taxes that have not yet been imposed.