Finance

Credit Suisse Group AG is close to resolving a U.S. tax-evasion probe with an agreement that might include a penalty of more than $1 billion, after creating a separate entity last year to house the businesses involved.

Despite delays in expected tax reform, companies are engaging, modeling and planning in order to manage uncertainty, according to survey findings released at Ernst & Young LLP’s Ninth Annual Domestic Tax Conference in New York.

Professors Miller & Bahnson argue that it's time to finally reject IFRS and the IASB for the U.S.

A pair of senators have introduced legislation to prohibit federal workers from receiving bonuses if they aren't in good standing with their agency or the law, in response to a report from the Treasury Inspector General for Tax Administration that IRS employees who owed back taxes received lucrative bonuses.

U.S. companies looking for lower tax bills are heading for the exits, and Congress is doing nothing to stop them.

The U.S. House Ways and Means Committee approved $310 billion of tax breaks, as Republicans defeated Democratic objections to the plan’s budgetary costs.

The House has unanimously passed the Digital Accountability and Transparency Act, also known as the DATA Act, on Monday, following Senate passage earlier this month and sending the legislation to President Obama’s desk for his signature.

The U.S. House of Representatives plans to vote in May to make the research tax credit permanent, the first step toward ending a 33-year lapse-and-revive cycle that has frustrated companies such as Intel Corp. and Agilent Technologies Inc.

The American Institute of CPAs has written to the head of the tax-writing House Ways and Means Committee voicing strong opposition to draft legislation that would limit the use of the cash method of accounting for pass-through entities and personal service corporations.

More than 100 New Hampshire physicians and health care providers have been reportedly victimized by tax fraud, and U.S. Senator Jeanne Shaheen, D-N.H., is urging federal officials to investigate.

The Internal Revenue Service and other U.S. agencies awarded about $415,000 in contracts to a license plate-tracking company before Homeland Security leaders dropped a plan for similar work amid privacy complaints.

Smaller budgets have hurt the Internal Revenue Service’s performance, according to a new government report.

The RNC has filed a lawsuit against the IRS for withholding records sought by a 2013 Freedom of Information Act request.

Former Secretary of Defense Donald Rumsfeld yesterday made public a letter he said he sends every year to the IRS, along with his tax return.

U.S. taxpayers would need to pay an average of $1,259 more a year to make up the federal and state taxes lost to corporations and individuals sheltering money in overseas tax havens, according to a report.

A pair of senators have called on the Social Security Administration to end the policy of seizing taxpayers’ refunds to hold them accountable for decades-old errors made by the agency that led to the overpayment of benefits, and the agency has agreed to do so.

The House Ways and Means Committee held a hearing last week to discuss the perennial issue of the tax extenders, the temporary tax provisions that expire year after year and are usually renewed.

As the political fight over raising taxes for high-income Americans fades away, so are predictions for negative economic fallout.

President Barack Obama and his wife, Michelle, reported adjusted gross income of $481,098 for 2013, down 21 percent from last year, according to tax returns released yesterday by the White House.

U.S. states are trying to capture corporate income taxes lost to offshore havens, wary of companies exploiting rules that let them channel cash abroad and weary of congressional inaction.