Practice Management

Large, profitable American corporations paid only 14 percent of their profits in federal income taxes on average from 2008 through 2012, and approximately one-fifth of them paid nothing at all in each of those years, according to a new government report commissioned by Sen. Bernie Sanders.

The House Ways and Means Committee passed four pieces of Republican-sponsored legislation Wednesday restricting IRS employee bonuses, hiring and spending, with less than a week to go in tax season.

The Internal Revenue Service has added eight delivery services that qualify as “private delivery services” for mailing tax documents and payments on a timely basis.

Delphi Automotive Plc said it won a long-running dispute with the Internal Revenue Service over whether the parts maker, which is run from a Detroit suburb, should be allowed to call itself British for tax purposes.

With only a week to go until T-Day, it’s countdown time—and about one-third of U.S. income tax returns had yet to be filed as of April 1. Following last year’s abysmal mix of poor customer service, massive identity theft, and refund fraud, a healthy dose of tax filing dread seems to have set in.

Exencial Wealth Advisors, a wealth management firm based in Plano, Texas, has acquired San Antonio, Texas-based Netting & Pace, CPAs, an accounting and wealth management firm.

The Caldwell House Bed and Breakfast in Salisbury Mills, N.Y., is offering some serious tax relief for tax preparers and accountants.

When one dies owning commercial or rental residential real estate, a cost segregation study can be a highly effective tool for reducing the estate’s tax burden.

The Internal Revenue Service failed to redact Social Security Numbers and Employer Identification Numbers from hundreds of its Offer in Compromise files that are available to the public, according to a new report.

The House Ways and Means Committee plans to markup and vote Wednesday on four pieces of Republican-sponsored legislation aimed at limiting the Internal Revenue Service’s authority over its spending, particularly in the areas of employee bonuses, hiring, and delegation of user fees.