Tax practice

Sen. Ron Wyden, D-Ore., the ranking Democrat on the Senate Finance Committee, released a discussion draft of proposed legislation that would prevent taxpayers from putting more than $5 million in an individual retirement account.

About two weeks after Denmark revealed it had lost as much as $4 billion in taxes through a combination of fraud and mismanagement, the minister in charge of revenue collection says that figure may need to be revised even higher.

Leaders of the National Society of Accountants have sent a letter to leaders of the U.S. House of Representatives opposing any resolution to impeach or censure IRS Commissioner Koskinen.

Speaker Paul Ryan said Wednesday the House will vote on whether to impeach Internal Revenue Service Commissioner John Koskinen, and he indicated members won’t be pressured to vote one way or the other.

The Internal Revenue Service has issued final regulations redefining terms relating to marital status to include same-sex marriage for federal tax purposes, in accordance with Supreme Court decisions.

How often do you read headlines in the local business journal about companies receiving state and local incentives to expand or relocate? Are your clients in the headlines for incentive deals? If not, you may be able to help them get there—and create a lot of value and goodwill in the process.

Highlights of some of our favorite tax-related blogs from the past week.

The American Institute of CPAs is appealing a court decision that upheld the Internal Revenue Service’s voluntary program for tax preparer education and testing.

The Internal Revenue Service is warning tax professionals that identity thieves are trying to remotely take control over their computers to file fraudulent tax returns using the names and IDs of their clients.

Ireland’s government agreed to fight this week’s European Union decision forcing Apple Inc. to pay it vast tax arrears, ending a squabble which threatened to destabilize Prime Minister Enda Kenny’s administration.

A roundup of our favorite tax fraud cases.

Highlights of some of our favorite tax-related blogs from the past week.

Taxpayers should consider a mid-year tax withholding checkup following several new factors that could affect their refunds in 2017, according to the IRS.

H&R Block announced that for its fiscal 2017 first quarter, its total revenues fell $12.5 million, to $125.2 million.

When I told my wife that I was working on the Apple story, she told me that it’s already been covered—in the Book of Genesis. She’s right, of course, since good versus evil permeates many of the issues in the current tax landscape.

Some mostly welcome clarification on taxation of deferred compensation

The European Commission’s finding that Ireland must collect as much as an attention-getting 13 billion euros ($14.5 billion) in back taxes from Apple Inc. contained a second stunning number: 0.005 percent.

Apple Inc. Chief Executive Officer Tim Cook said he’s confident the iPhone maker will win a court fight against this week’s European Union decision forcing it to pay Ireland vast tax arrears, as Prime Minister Enda Kenny struggled to unite his government behind an appeal.

The IRS has said that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to Louisiana flood victims and members of their families.

The days when big U.S. technology companies could easily slice tax bills in Europe are coming to an end.