Practice Management

The Senate Finance Committee held a hearing on the tax aspects of a cap-and-trade program to control carbon emissions.

An Ohio jury ruled that Fifth Third Bancorp is not entitled to a $5.6 million tax refund for its 1997 tax year after the bank sought to take tax deductions related to complex leasing transactions involving passenger rail cars.

The Internal Revenue Service has withdrawn proposed regulations that would have treated mortgage loans as capital assets and restricted the deductibility of mortgage defaults.

CPA firm Marcum & Kliegman has expanded into the executive search industry, launching M&K Executive Search.

The Senate Finance Committee proposed a new tax bill that seeks to prevent the alternative minimum tax from spreading to more taxpayers next tax season.

Tax preparer Matthew Carl Berry was convicted of federal tax fraud charges for operating a scheme that earned him, family members and associates more than $1 million, according to the Justice Department.

Right on time for the conclusion of tax season, the House has passed a bill that promises to make tax preparation easier, while also repealing the IRS Private Debt Collection Program.

The Internal Revenue Service said it would be watching to make sure charities and religious organizations don't violate their tax-exempt status by engaging in political activities this campaign season.

The Internal Revenue Service has put out a call for a priority list of items it should address with its upcoming guidance.

Sen. Chuck Grassley, R-Iowa, ranking member of the Senate Finance Committee, defended the Internal Revenue Service's outsourcing of tax collections to private firms by pointing out the thousands of disciplinary actions taken against IRS employees.