Tax season

Despite the late start to tax season, the Internal Revenue Service generally kept pace with last year, according to a government report.

A pair of senators have called on the Social Security Administration to end the policy of seizing taxpayers’ refunds to hold them accountable for decades-old errors made by the agency that led to the overpayment of benefits, and the agency has agreed to do so.

Accountants who meet with business clients to deliver tax returns during busy season are understandably pressed for time and attention. These brief meetings, however, are an important part of developing and cementing your role as a trusted advisor, and they can pave the way for cross-selling additional services to existing clients.

Internal Revenue Service commissioner John Koskinen addressed a special thank you to the tax community in an email to tax professionals Friday, noting that their work is “critical to running the tax system and helping the nation.”

The Internal Revenue Service said that a qualified tax professional who has a Form 8821, Tax Information Authorization, on file may now request a client’s account transcript using the Transcript Delivery System.

The Internal Revenue Service said Friday that victims of last month’s mudslides and flooding in Washington state will have until Oct. 15 to file their returns and pay any taxes due.

Taxation is merely one piece of the financial planning puzzle, but it is second only to investments as the topic that most individuals want to control during the financial planning process.

Whether they realize it or not, taxes ended up going up for most taxpayers last year, despite the extension of the Bush tax cuts at the beginning of last year.

Nearly half of Americans prepare their own taxes, according to a new survey, and most of them seem to be convinced they are taking advantage of all the tax breaks available.

Tax returns filed this season by tax professionals are down 1.3 percent so far compared to last year, while self-prepared returns are up 5.9 percent, according to the latest IRS statistics.

A decade ago, few of us had heard of identity theft. Now, most of us know someone who has been a victim. And of course, a large portion of ID theft affects tax preparers and taxpayers directly, since tax refunds are a huge target of identity thieves.

There is a certain hour during the day when you just want to be done. Sometimes it hits predictably in the mid-afternoon. Other times it sneaks up on you as personalities clash in the office, a client makes yet another last-minute request, or the gas tank light goes on while you are stuck in the evening traffic.

The Internal Revenue Service is providing taxpayers in Colorado an extension until Oct. 15, 2014 to decide when to claim disaster losses arising from last September’s flooding.

The Internal Revenue Service has released its 2013 IRS Data Book, providing a snapshot of activities at the agency in relation to taxpayers for the fiscal year.

Tax preparers frequently skip meals or turn to junk food during the hectic tax season, and some companies want to make sure they make healthier nutrition choices.

How to tell tax clients what you charge

A like-kind exchange, also known as a Section 1031 exchange after the section of the Tax Code that governs it, is essentially a tax-deferral tool that postpones tax on the exchange of a property for another property of a “like kind.”

The Internal Revenue Service said Thursday it has already received more than half of the tax returns it expects to receive during 2014, even though the filing deadline is nearly a month away.

The Internal Revenue Service is giving the Mega Millions jackpot some serious competition, with tax refunds totaling $760 million ready to be handed over to an estimated 918,600 taxpayers who did not file a federal income tax return for 2010.

The American Institute of CPAs has released a list of 10 suggestions for individual taxpayers and their preparers filing tax returns this season.