Finance

American manufacturer Ingersoll-Rand Co. forged the tools that carved the Panama Canal and shaped Mount Rushmore. When it shifted its legal address to Bermuda in 2001 to reduce taxes, the maneuver sparked bipartisan outrage in Congress.

The Internal Revenue Service is suffering from several new deficiencies in its internal controls, although it has managed to address a number of older problems, according to a new report from the Government Accountability Office.

The Internal Revenue Service said Tuesday it has updated its FATCA Foreign Financial Institution List to coincide with the rollout of the Foreign Account Tax Compliance Act.

The American Institute of CPAs’ Auditing Standards Board has issued two new auditing interpretations in response to the Governmental Accounting Standards Board’s new pension reporting standards.

Health care reform tax issues for 2014

Educating your clients on the ACA

Foreign financial institutions will face tax withholding penalties on Tuesday, July 1 if they have not begun to make efforts to comply with the Foreign Account Tax Compliance Act, or FATCA.

The Supreme Court clarified a portion of the ACA applying to closely held businesses, by deciding, in a 5-4 ruling, that the Department of Health and Human Services regulations under the Affordable Care Act, which impose a contraceptive mandate, violate the Religious Freedom Restoration Act of 1993.

The Internal Revenue Service is about to get an unprecedented look at bank accounts and investments U.S. citizens hold abroad, through a law that is making it harder to hide assets from the tax collector.

A new study suggests that tax filing season could be the best time to sign up clients for health coverage under the Affordable Care Act rather than the current open enrollment period.

House Republicans are accusing Lois Lerner, the former director of the Internal Revenue Service’s Exempt Organizations unit, of emailing a colleague about subjecting Sen. Charles Grassley, R-Iowa, the former chairman of the Senate Finance Committee, to an IRS examination.

The House Ways and Means Committee has approved legislation aimed at simplifying the many tax credits available for education.

The Internal Revenue Service has posted an updated Foreign Financial Institution Agreement on its Web site for implementing the Foreign Account Tax Compliance Act, or FATCA.

The Senate Finance Committee held a hearing Tuesday to examine ways to improve tax credits for education and lower student debt as part of the latest series of hearings on tax reform.

U.S. lawmakers argued late into the night over a computer hard drive that crashed in 2011, taking the controversy surrounding the Internal Revenue Service to a new level of acrimony.

A central character in the 14-month dispute in Congress over the Internal Revenue Service’s scrutiny of Tea Party groups is a computer hard drive.

The House Ways and Means Committee chairman called for a special prosecutor to probe the Internal Revenue Service’s loss of e-mails from the time the agency gave extra scrutiny to Tea Party groups seeking tax-exempt status.

The House Judiciary Committee has approved legislation by a wide margin that would prohibit states from taxing Internet access.

It is widely acknowledged that fraud, including fraudulent financial reporting and other improprieties targeted against businesses, has become epidemic.

Bill and Hillary Clinton have long supported an estate tax to prevent the U.S. from being dominated by inherited wealth. That doesn’t mean they want to pay it.