Practice Management

Most states tax their middle- and low-income families far more heavily than the wealthy, according to a new study by the Institute on Taxation & Economic Policy.

It’s getting near the end of the year, and ’tis the season to be compiling lists.

The owner of New York bagel maker H&H Bagels has been indicted and arrested for stealing withholding taxes and evading unemployment insurance tax in connection with his wholesale and retail bagel business.

Senate Majority Leader Harry Reid, D-Nev., introduced the Senate’s version of the health care reform bill, which includes a new 5 percent tax on elective cosmetic surgery.

Approximately 203,000 taxpayers erroneously claimed a total of over $300 million in Hope Credits for higher education in 2006, and over 169,000 claimed over $232 million in credits, according to a new report by the Treasury Inspector General for Tax Administration.

A Web service that matches small businesses with accountants is expanding into nine new markets.

Over 14,700 holders of foreign bank accounts told the Internal Revenue Service about the existence of the accounts under a voluntary disclosure program.

President Obama has established an interagency Financial Fraud Enforcement Task Force that will work with state and local authorities to investigate and prosecute significant financial crimes.

A bipartisan bill introduced in the Senate and House would reduce the penalties assessed by the IRS on tax shelter investments by small businesses to put them in proportion with the tax benefits received.

The Making Work Pay Credit, a tax credit that was a signature part of President Obama’s economic stimulus package in February, could lead to more than 15.4 million people owing additional taxes, according to a new government report.