Tax

The Federal Deposit Insurance Corp. has told Republic Bancorp, the main refund anticipation loan provider for Jackson Hewitt and Liberty Tax Service, that the bank’s RALs are “unsafe and unsound” without a debt indicator from the Internal Revenue Service.

Check out the digital edition of the February issue of Accounting Today.

Congressmen Brad Sherman, D-Calif., and Michael Conaway, R-Texas, have formed a Bipartisan Congressional CPA Caucus that they plan to co-chair.

Tax strategy patents have been around for more than a decade, ever since a federal appeals court in 1998 validated business method patents, including tax strategies.

The Justice Department has filed six lawsuits in five states to stop tax return preparers from fraudulently claiming the First-Time Homebuyer Tax Credit and the Earned Income Tax Credit.

The city of San Francisco is reportedly considering offering Twitter massive tax breaks to keep the growing social media company from moving outside the city to nearby Brisbane.

The Internal Revenue Service plans to begin accepting tax returns with itemized deductions and other delayed forms after 11:00 am next Monday.

Home values in the U.S. posted their largest quarterly decline since the first quarter of 2009, falling 2.6 percent as the temporary stimulus of the Home Buyer Tax Credits wore off, according to a new report.

The Obama administration is expected to propose a way for states to raise more money in payroll taxes to pay for the cost of unemployment insurance.

A group of 10 Senate Democrats has written to Speaker of the House John Boehner and other House leaders asking them to reduce the budget deficit by eliminating unneeded subsidies and tax breaks for oil companies.