Tax practice

The AICPA drafted a new comment letter to the U.S. Department of the Treasury and the IRS today, calling for a delay in the effective date of Internal Revenue Code Section 385 proposed regulations (REG-108060-15), which relates to the treatment of certain interests in corporations as stock or debt for federal tax purposes. The AICPA also urged that exceptions to the proposed regulations be provided as part of its numerous technical comments and recommendations.

Tax lawyer Kelly Phillips Erb, aka “taxgirl,” has written for The New York Times and is now a staff writer for Forbes.com, but she never set out to be a famous blogger or national thought leader.

The IRS shares some advice on fixing a return (text version)

With the regulations that once kept financial advisors and other money-management professionals on the social-media sidelines a thing of the past, the floodgate of tweets, Snaps and Instagram posts should be wide open by now. But the response has actually been quite muted.

The Internal Revenue Service has begun a new campaign to make tax preparers more aware of security risks that could expose their clients to identity theft and tax fraud.

Wells Fargo & Co. got less than it wanted in a federal tax-refund lawsuit, yet the bank’s partial victory may spur billions of dollars in similar refund claims from companies that have done repeated mergers and acquisitions, tax lawyers say.

Barcelona soccer star Lionel Messi, the record five-time world player of the year, was handed a 21-month prison sentence for tax fraud by a Spanish court that he’s unlikely to have to serve.

All across America, hard-working people receive their personal income tax returns and wonder why they still owe money at tax time.

UBS Group AG is fighting a demand that it provide information on French clients to tax authorities, days after Paris prosecutors separately recommended the bank go on trial for helping French citizens evade taxes.

U.S. taxpayers who entered into an IRS program that made it easier to disclose their hidden offshore bank accounts may have thought they put their legal troubles behind them. Instead, prosecutors may try to put some of them in jail for not telling all.

A roundup of our favorite recent tax fraud cases.

In-home, private-duty senior care is one of the fastest-growing segments of the care industry. The high cost of facility-based care, coupled with the desire to enjoy the comfort and convenience of home, makes employing a caregiver an increasingly popular option for families.

The Internal Revenue Service and the U.S. Tax Court are seeing their caseloads pile up as taxpayers, interest groups, tax attorneys and Congress let loose with a volley of lawsuits and legal challenges.

A primer on the int’l tax issues your business clients may face

The Internal Revenue Service enjoys ample room for improvement on a number of issues, according to tax practitioners asked about the agency’s biggest challenges.

The IRS reports that it processed 134,387,120 returns from last season through May 26.

Check out the digital edition of the July 2016 issue of Accounting Today.

The Treasury Department and the Internal Revenue Service have finalized a rule requiring U.S. parent companies of large multinational public and private companies to provide financial data to the IRS on a country-by-country basis.

Former billionaire entrepreneur Samuel Wyly will have to move out of his $12 million Texas mansion unless he miraculously wins a "home run" appeal of a fraud case in Manhattan, a federal judge ruled.

The Internal Revenue Service needs to do a better job of assessing the performance of its Volunteer Tax Return Preparation Program, according to a new report, which nevertheless found the volunteer tax preparers completed mostly accurate tax returns this past tax season.