Tax practice

National Taxpayer Advocate Nina E. Olson's annual report to Congress highlighted the combination of an expanding IRS workload and declining resources as the most serious problem facing taxpayers.

The Internal Revenue Service needed to put the brakes on its tax refunds this tax season when newly installed filters to prevent tax fraud and identity theft held up processing for a week or more.

The Internal Revenue Service and the Justice Department said Tuesday they have conducted a massive nationwide sweep to nab identity theft fraudsters as part of a stepped-up effort against tax refund fraud.

The Senate Finance Committee held a hearing Tuesday to examine the growing number of tax extenders in the Tax Code that need to be renewed every year or two, and how there could be greater predictability with overall tax reform.

President Obama encouraged Congress to act on a package of legislative proposals to expand tax breaks and financing for startups and small businesses.

Rep. Pete Stark, D-Calif., the ranking Democratic member of the House Ways and Means Health Subcommittee, has introduced a new bill aimed at closing what he considers a “tax loophole” exploited by former House Speaker Newt Gingrich.

The Internal Revenue Service has approved the National Society of Accountants as a continuing education provider for tax professionals, as part of its efforts to regulate the tax preparation profession.

The Internal Revenue Service has increased its forecasts for the number of information-reporting forms it expects to receive this year and in subsequent years as a result of increased reporting requirements.

The break-up of Switzerland's oldest bank Wegelin on Friday shows the need to settle a dispute with U.S. authorities over tax cheats hiding cash in secret Swiss accounts, the finance minister said on Saturday.

The Senate Finance Committee plans to hold a hearing Tuesday to discuss finding a long-term way to handle “tax extenders”—tax provisions that frequently require annual or biannual renewals—to provide more certainty for taxpayers, not to mention tax preparers.

The National Consumer Law Center and the Consumer Federation of America are predicting that this year’s tax season will be the final one that refund anticipation loans will be available on a large-scale, nationwide basis.

Retail giant Sears is partnering with H&R Block this tax season, offering free federal 1040EZ tax filing online and in stores through Feb. 29.

More than 279,000 federal employees, including members of the military, collectively owed approximately $3.42 billion in unpaid taxes as of Sept. 30, 2010, up more than 3 percent from the prior year, according to a recently released report from the Internal Revenue Service.

H&R Block launched an app for iPhone and Android smartphones Friday with an offer for free federal 1040EZ and state tax preparation and electronic filing through February 29.

The Internal Revenue Service re-launched its annual outreach campaign Friday to promote Earned Income Tax Credit Day.

The President’s annual State of the Union speech is traditionally more than just a memo of the past or a blueprint for the future.

The Internal Revenue Service warned Thursday that tax refunds could be delayed a week this tax season because of new identity theft safeguards.

The Senate Permanent Subcommittee on Investigations held a hearing Thursday to explore decisions by the Internal Revenue Service that have increased commodity speculation by allowing some mutual funds to use offshore shell corporations and complex financial instruments to circumvent longstanding Tax Code limits on mutual fund trading in commodities.

The Walmart Foundation has teamed up with the United Way and other nonprofits to offer free tax filing services, along with education on eligibility for the Earned Income Tax Credit and government nutritional assistance programs.

Tax executives are uncertain about the potential impact on their businesses of the “repair regulations” recently issued by the Internal Revenue Service, according to a new survey by KPMG.