Practice Management

A pair of executives in a California-based adult entertainment business have pleaded guilty to federal tax charges.

As multinational corporations and lobbyists push for a reduction in the corporate tax rate and a tax holiday on repatriated foreign profits, the tax loopholes that have encouraged companies to shift their income abroad have managed to stay largely intact.

A bipartisan trio of lawmakers have introduced a bill that would update the existing tax law to allow formerly homeless young people to pursue a four-year college education and still qualify for housing built with Low Income Housing Tax Credits.

The chairman of the House Ways and Means Oversight Subcommittee demanded Tuesday that the Internal Revenue Service suspend a proposed regulation that would require banks to disclose the amount of interest paid to nonresident aliens.

The Internal Revenue Service’s streamlined installment agreement program has brought in large amounts of revenue from people who owed back taxes, but at least 90,000 taxpayers using a streamlined installment agreement to pay back taxes may still owe the IRS after they complete the terms of their agreement.

Buoyed by revenue from the acquisitions of SurePayroll and ePlan Services, payroll and benefits outsourcing concern Paychex posted a 13 percent rise in first-quarter profits, to $149 million for the period ended August 31.

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H&R Block said Monday that it plans to add another 100 franchise locations to its 11,000-office network.

Republican presidential candidate Herman Cain pulled off an upset victory in the Florida straw poll over the weekend, campaigning on his 9-9-9 plan to cut taxes.

A California tax preparer has been sentenced to 30 months in prison for conspiracy to defraud the United States after he was found using the Social Security numbers of deceased persons and stolen employer identification information.