Practice Management

Payments that a business makes are generally deductible if they are “ordinary and necessary” under Internal Revenue Service regulations unless, that is, they are specifically denied deductibility.

A House committee voted Wednesday to censure Internal Revenue Service Commissioner John Koskinen over Republican claims that he obstructed an investigation into whether his agency targeted conservative groups seeking tax-exempt status.

The cost of compliance with the ever-growing Tax Code costs U.S. taxpayers a total of 8.9 billion hours and $409 billion, according to new research.

Developing trust is complicated, but trust is the ultimate competitive advantage for winning and retaining clients.

The Internal Revenue Service has released final regulations relating to the exclusion from gross income of discharge of indebtedness income of a grantor trust or an entity that is disregarded as an entity separate from its owner.

The Internal Revenue Service has issued guidance on whether payments from a qualified retirement plan during a phased retirement are considered an annuity.

The Internal Revenue Service plans to change some of its procedures for reviewing amended tax returns after a government report estimated it may have inappropriately allowed approximately $34.4 million in tax refunds and abatements.

Microsoft Corp. has enough cash to buy LinkedIn Corp. four times over. So why is it taking out a big loan to pay for its latest purchase?

A House committee plans to vote Wednesday on whether to censure Internal Revenue Service Commissioner John Koskinen over Republican claims that he obstructed an investigation into whether his agency targeted conservative groups seeking tax-exempt status.

The House passed Republican-backed legislation Tuesday that would prevent the Internal Revenue Service from requiring tax-exempt 501(c) organizations to disclose the names of donors on Form 990.