Tax regulations

Most tax practitioners occasionally find themselves in the position of having to deal with clients who have received penalties for late filing of tax returns or late payment of income taxes.

U.S. Treasury Secretary Jacob J. Lew is set to meet with European Union antitrust chief Margrethe Vestager this week as she prepares to deliver a final verdict on a probe into Apple Inc.’s tax affairs in Ireland.

The Internal Revenue Service has released a new revenue procedure and regulations outlining how organizations can notify the IRS they are operating as tax-exempt social welfare groups under Section 501(c)4 of the Tax Code.

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

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.

The Internal Revenue Service needs to expand its use of data and develop a comprehensive strategy to address noncompliance by taxpayers claiming refundable tax credits such as the Earned Income Tax Credit, according to a new report.

Along with establishing a good work ethic and building time and financial management skills, a summer job also means learning about the obligatory duty of paying taxes. Here are some tips for tax clients from Abigail Schaffer, a staff accountant at Kessler Orlean Silver & Co.

This may be the last time you see a reminder that the FBAR (Report of Foreign Bank and Financial Accounts) filing deadline of June 30 is fast approaching. That’s because, beginning in 2017, the annual FBAR filing will coincide with the April 15 income tax filing deadline.

Dan Loeb’s Third Point Reinsurance Ltd. said scrutiny of the industry’s offshore tax advantage has lessened after hedge fund manager John Paulson closed a venture that stood out as an “outlier” for its aggressive use of strategies that were criticized as abuses.

The Internal Revenue Service has released final regulations relating to the exclusion from gross income of discharge of indebtedness income of a grantor trust or an entity that is disregarded as an entity separate from its owner.

This year, for the first time ever, employers will begin receiving notices from the Federally Facilitated Marketplace indicating that one of their employees signed up for health coverage through the Marketplace and received advanced premium subsidies for that coverage.

The Internal Revenue Service has ruled that fines issued by the brokerage industry’s self-regulatory body, the Financial Industry Regulatory Authority, or FINRA, are not tax deductible.

The Internal Revenue Service has issued final and temporary regulations to curb the use of spinoffs of corporate assets into real estate investment trusts, or REITs, to reduce taxes.

The Federal Accounting Standards Advisory Board is proposing changes in how the federal government accounts for tax expenditures.

The so-called “sharing economy” isn’t doing such a good job of disseminating the necessary tax information with its participants.

Figuring out how to pay taxes on gambling wins can be difficult for many tax clients, not to mention how to account for the losses.

Over the last few years one of the most dynamic portions of the tax code has been depreciation and capitalization regulations.

Summer isn’t too far away, and many parents are wondering if they can afford to send their kids away to summer camp this year. The ability to take a tax deduction for such expenses could make all the difference.

The American Institute of CPAs has sent a comment letter to the Internal Revenue Service about Notice 2015-54, Transfers of Property to Partnerships with Related Foreign Partners.

The European Union, locked in a tax battle with the likes of Apple Inc. and McDonald’s Corp., laid down the law in its bid to rein in governments that woo multinationals with special fiscal deals allowing them to reduce their fiscal liability by booking profits abroad.