Tax practice

Tax software developer Greatland Corporation is offering some tips to businesses to help them manage W-2 and 1099 reporting.

IMGCAP(1)]The impact of the financial crisis and resultant recession, even if now officially ended, continues to be felt.

President Obama’s State of the Union address gave a preview of several of the administration’s tax policies over the coming year, including tax incentives to encourage more U.S.-based multinational corporations to bring jobs back home.

President Barack Obama called for millionaires to shoulder a greater share of taxes, but also agreed to lower corporate taxes fpr companies that hire in the U.S., during his State of the Union address on Tuesday night.

Two New York City-based tax preparers have been indicted for filing false tax returns.

Former Massachusetts Governor and Republican Presidential candidate Mitt Romney has released his tax return for 2010 and an estimate for 2011.

Newt Gingrich’s recently released tax returns show some questionable items, according to one tax expert.

The Internal Revenue Service has provided cereal maker Ralcorp Holdings with a private letter ruling related to the tax implications of the separation of its Post cereals business.

Former Massachusetts Governor and Republican Presidential candidate Mitt Romney said he would release his 2010 tax return and an estimated tax return for 2011 on Tuesday in the wake of a stinging defeat in the South Carolina primary and renewed pressure from fellow Republicans.

The Internal Revenue Service has released final regulations relating to the exclusion from gross income for amounts received on account of personal physical injuries or physical sickness.

CCH has added several four new titles to its Expert Treatise Library for tax and accounting professionals.

Payroll provider Paychex is offering a free federal and state tax practice sheet that accountants can pass along as a tax season gift to their clients, branded with the CPA practice’s own name.

The National Society of Accountants is providing a free Web tutorial to help tax practitioners get ready for the Internal Revenue Service’s upcoming Registered Tax Return Preparer competency tests.

Republican Presidential candidate Newt Gingrich released his income tax returns as pressure mounted on rival candidate Mitt Romney to do the same.

They say the third time’s a charm. And the third iteration of the IRS Offshore Voluntary Disclosure Program is likewise a good thing, according to Kevin Packman, a tax partner at Holland & Knight and chair of the offshore compliance team.

People who have received restitution payments from those convicted of human trafficking do not need to include those payments in gross income for federal income tax purposes, the Internal Revenue Service said Thursday.

The Internal Revenue Service plans to hold the second in a series of public meetings next Wednesday to get feedback on its plans to create a “real-time tax system” that would be able to catch incorrectly reported tax return information at the time it is filed.

Republican Presidential candidate Rick Santorum’s tax plan would reduce federal tax revenues substantially, according to a preliminary analysis by the Tax Policy Center.

Rep. Sander Levin, D-Mich., the ranking Democrat on the tax-writing House Ways and Means Committee, said Wednesday he would re-introduce legislation later this year to end the tax break on carried interest income.

A White House-appointed group of business, academic and labor leaders recommended corporate tax reforms and other measures to increase jobs and improve the economy.