Tax planning

The House Ways and Means Oversight Subcommittee plans to hold a hearing on the 2008 tax-filing season, Internal Revenue Service operations, fiscal year 2009 budget proposals and the IRS National Taxpayer Advocate's annual report.

Governments in large countries seem to be turning away from taxes as a way to force their citizens to follow better environmental practices, according to a report by KPMG.

The American Institute of CPAs has ramped up its mobility efforts to allow CPAs to practice in other states, with mobility bills enacted now in 12 states and legislation pending in 22 other states.

The Internal Revenue Service has opened its IRS Free File program to individuals who do not normally file tax returns so they can receive economic stimulus payments.

Democratic lawmakers in the New York State Assembly are reportedly considering the idea of levying an extra 1 percent income tax on everyone with income over $1 million in order to balance the state's budget and help fund transportation costs, but the proposal is likely to run into opposition from the governor and the State Senate.

The Internal Revenue Service has issued final regulations for tax deductions on domestic film productions, while revising the definition of the types of films that qualify for the deduction.

The House Subcommittee on Select Revenue Measures held a hearing to examine whether there is a need for a more uniform treatment of various derivative structures.

Representatives from PricewaterhouseCoopers outlined the benefits of an international tax treaty between the United States and Belgium at a seminar in New York.

Tax refund expectations could be tied to a taxpayer's astrological sign, according to a survey last tax season by credit-counseling agency Money Management International.

The Internal Revenue Service said it won't challenge the accuracy of income tax returns filed by eligible individuals who claim just $1.00 in adjusted gross income in order to receive an economic stimulus payment.

Financial services firm Gilman Ciocia is capitalizing on two perennials for this time of year - tax season and Major League Baseball spring training - to offer free tax prep services to attendees at several upcoming spring training games in Florida.

The Internal Revenue Service has automated user fee calculations for taxpayers who enter into installment agreements to make it easier to determine their eligibility for fee reductions for low-income taxpayers.

CCH has begun offering batch processing for its Tax Zone Locator and other products on the CCH Tax Research NetWork.

The Internal Revenue Service has decided to renew the contracts of two companies involved in its controversial private debt collection program.

The Internal Revenue Service said that electronic filing is already off to a strong start, with more than 38 million tax returns filed electronically so far.

After the Cook County Board voted over the weekend to double the county's sales tax rate to 1.75 percent, Chicagoans found themselves about to pay the highest sales tax rate of any major city in the nation: 10.25 percent.

The Internal Revenue Service said it is encouraging business taxpayers, associations and other interested parties to submit controversial tax issues to its Industry Issue Resolution Program.

Accounting firms Gray, Gray & Gray and Patterson & Gerry have merged, expanding Gray's presence in the Massachusetts market.

The Supreme Court has unanimously overturned a decision by the Ninth Circuit court in a criminal tax evasion case.

The Internal Revenue Service is sending out letters this week to more than 130 million American households reminding them to file a 2007 tax return in order to receive a tax rebate or economic stimulus payment.