The Latest

A federal judge has dismissed a pair of lawsuits against the Internal Revenue Service by over 40 conservative groups over the IRS’s handling of their applications for tax-exempt status.

British Petroleum has filed a legal motion against the administrator of the claims settlement program set up to deal with victims of the 2010 oil spill in the Gulf of Mexico from its Deepwater Horizon oil-drilling rig to force him to release the results of an audit by McGladrey LLP that is costing BP more than $14 million.

With the holiday season fast approaching, charitable events are becoming more and more prevalent as professionals and firms get into the spirit of the season. Today, Grassi & Co., the N.Y.-based accounting firm, is holding its annual charitable "Firm Day" event at the Skyline Hotel in Manhattan.

The Treasury Department and the Internal Revenue Service have issued guidance aimed at expanding the use of income annuities in 401(k) plans.

Highlights of some of our favorite tax-related blogs from the past week.

Swiss banks seeking to avoid U.S. prosecution by disclosing how they helped Americans evade taxes asked the Justice Department this week to back off a dozen demands, including that they cooperate with other nations.

Raoul Weil, who once ran UBS AG’s global wealth-management business, referred to accounts hidden by U.S. clients from the Internal Revenue Service as “toxic waste,” a witness at his tax-conspiracy trial said.

Tesco Plc Chairman Richard Broadbent will leave after the U.K.’s biggest supermarket company said accounting irregularities started earlier than this year and will continue to impact profit in the second half.

Individuals who lost money in the stock market in 2014 may have other investment assets that have appreciated in value. These taxpayers should consider the extent to which they should sell appreciated assets before year end (if their value has peaked) and thereby offset gains with pre-existing losses.

The Public Company Accounting Oversight Board has released expanded versions of two of its inspections reports of KPMG LLP after the firm failed to address quality control issues to the board’s satisfaction.