Practice Management

A recent report from the Government Accountability Office called IRS Form 8938 and the FBAR "duplicative," often asking for the same or similar information.

The House has passed a Republican-sponsored budget alternative to President Obama’s fiscal 2013 budget, mostly based on the plan put forward by House Budget Committee Chairman Paul Ryan, R-Wisc., for creating only two tax brackets of just 10 and 25 percent.

A trio of House Democrats have introduced a bill that would provide tax relief to homeowners who were wrongly foreclosed upon and receive money from the recent nationwide mortgage foreclosure settlement.

When someone drives down the highway and spots a police car on the side of the road, a sense of paranoia overwhelms the individual even though no law has been broken.

The House Ways and Means Committee has passed a Republican-sponsored bill aimed at reducing taxes for small businesses that would also benefit larger companies.

The Internal Revenue Service said Tuesday that it would provide penalty relief to farmers who incurred estimated tax penalties because they did not receive their 1099 forms from MF Global or the bankrupt financial firm’s court-appointed trustee on a timely basis.

Congress approved legislation Tuesday intended to spur investment in small businesses and help them access the capital markets, despite criticisms that it would weaken audit safeguards and investor protections.

The Internal Revenue Service has made organizational and administrative changes in the programs governing agreements between large businesses and the IRS over how tax transactions can be reported, particularly for multinational corporations using transfer pricing.

Bloomberg BNA has published the latest edition of its “Tax Essentials: Individuals” reference as both a printed book and an e-book that can be downloaded from Apple’s iBooks store.

The Internal Revenue Service said that reporting partnership interests using Form 1065/Schedule K-1 would be optional for tax year 2011.