Practice Management

Presidential candidate Ted Cruz’s tax proposals, which include cutting taxes for most individuals and replacing the corporate income tax with a flat 16 percent business tax, would reduce federal revenue by $8.6 trillion over a decade and “almost surely depress the economy over the long run,” according to a policy study and its authors.

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.

Tax season may not be the easiest time for preparers to develop new business, but it may be the best time, according to Chuck McCabe, president of Peoples Income Tax.

Millennials are more fearful of filing taxes than most Americans, according to a new survey.

A lawsuit over the Internal Revenue Service’s fees for Preparer Tax Identification Numbers has received class-action status, according to an attorney who has been trying to eliminate or reduce the PTIN fee for over four years.

The Internal Revenue Service is being urged to fix a security vulnerability that makes it all too easy to get an Electronic Filing PIN used by tax preparers.

The Internal Revenue Service warned Thursday it has seen a fourfold surge this tax season in email phishing and malware incidents, targeting consumers and the tax industry.

A federal court in Chicago has ordered Servicios Latinos Inc. to close its nationwide tax preparation business.

The IRS urged tax professionals in an email Wednesday to verify their Electronic Filing Identification Number activity to safeguard against tax fraud.

The Internal Revenue Service has begun conducting on-site inspections of tax preparers who continue to have problems with verifying their clients’ eligibility for claiming the Earned Income Tax Credit, and warned that the penalty has increased.