Tax penalties

The high court handed down rulings in FBAR penalty and state escheat cases.

What are the consequences for the service provider and client? And what is the protocol for fixing those types of mishaps?

The 19 million taxpayers who filed for extensions have until Oct. 17 to file.

A group of Republicans on Congress' main tax committees sent a letter to the Internal Revenue Service and the Treasury, backing a request from the AICPA.

The tax agency will automatically issue the refunds or credits for most of the fees by the end of September.

The service is providing relief to most individual and business taxpayers who filed their 2019 or 2020 returns late due to the pandemic.

Lower courts have disagreed whether non-willful failure-to-disclose penalties are on per-account or a per-form basis.

The American Institute of CPAs is firing back after a congressional hearing, asking for penalty relief for taxpayers dealing with the pandemic.

Two key U.S. Supreme Court justices indicated they are inclined to uphold the bulk of the Affordable Care Act as the court weighed the fate of a landmark law that provides health-insurance to 20 million people.

The AICPA believes taxpayers will be able to avoid penalties if they write “COVID-19” at the top of their return.