Practice Management

The break-up of Switzerland's oldest bank Wegelin on Friday shows the need to settle a dispute with U.S. authorities over tax cheats hiding cash in secret Swiss accounts, the finance minister said on Saturday.

The Senate Finance Committee plans to hold a hearing Tuesday to discuss finding a long-term way to handle “tax extenders”—tax provisions that frequently require annual or biannual renewals—to provide more certainty for taxpayers, not to mention tax preparers.

The National Consumer Law Center and the Consumer Federation of America are predicting that this year’s tax season will be the final one that refund anticipation loans will be available on a large-scale, nationwide basis.

Retail giant Sears is partnering with H&R Block this tax season, offering free federal 1040EZ tax filing online and in stores through Feb. 29.

More than 279,000 federal employees, including members of the military, collectively owed approximately $3.42 billion in unpaid taxes as of Sept. 30, 2010, up more than 3 percent from the prior year, according to a recently released report from the Internal Revenue Service.

H&R Block launched an app for iPhone and Android smartphones Friday with an offer for free federal 1040EZ and state tax preparation and electronic filing through February 29.

The Internal Revenue Service re-launched its annual outreach campaign Friday to promote Earned Income Tax Credit Day.

Baker Tilly International said Friday that revenues of its global accounting firm network grew 5 percent to $3.2 billion for the year ending June 30, 2011.

The President’s annual State of the Union speech is traditionally more than just a memo of the past or a blueprint for the future.

The Internal Revenue Service warned Thursday that tax refunds could be delayed a week this tax season because of new identity theft safeguards.