Tax

The Minnesota Department of Revenue is advising the state’s tax payers not to use Intuit products to file their 2012 taxes electronically or on paper due to what it claims are “multiple issues” with their products, according to a recent Forbes article.

The Internal Revenue Service is reminding tax practitioners that they cannot electronically file Form 8839, Qualified Adoption Expenses, this year, but instead must mail the forms to the IRS.

Check out the digital edition of the March 2013 issue of Accounting Today.

Like most of you, I’ve already experienced my fair share of stress this busy season, and it has barely begun. In addition to the shortened filing period, many practitioners are facing significant software glitches. Those are tough challenges for firms like my own, which consists of myself, a seasonal employee and an administrative person.

With lawmakers under pressure to find ways to reduce the deficit while avoiding the more painful spending cuts in the sequester, the Senate Budget Committee held a hearing to examine how to reduce the deficit by eliminating wasteful spending in the Tax Code.

The Internal Revenue Service reminded practitioners that they should not include advertisements for their services when sending out W-2 forms.

Taxes are increasingly spreading beyond national and state borders to make more of a global impact, affecting economic activity across the world.

The Internal Revenue Service’s Criminal Investigation unit is issuing a stern warning to New Jersey tax preparers as it cracks down on preparers who falsify tax returns, while cautioning taxpayers to choose preparers carefully.

The Internal Revenue Service said Tuesday that its Modernized e-File Production system is taking longer to generate federal acknowledgments for tax return filings.

The Internal Revenue Service said that budget sequestration would require reductions in refundable credits for certain tax-exempt bonds and the refundable portion of the Small Business Health Care Tax Credit for some small tax-exempt employers.