Tax

2008 was a tough year for investors and 2009 so far is shaping up to be more of the same. Nevertheless, investors should not lose sight of the value of capital losses for tax purposes.Capital losses can help lessen the sting of the market's decline. Just as the government shares some of your gains by taxing them, it shares some of the losses by allowing certain deductions and carryovers. This article dusts off a handful of capital loss rules that are particularly relevant in today's economy - rules that may have been forgotten over recent years.

The tiny European countries of Liechtenstein and Andorra are two of the latest tax havens to succumb to pressure from international authorities to share information about assets hidden in bank accounts.

The Internal Revenue Service reported that taxpayers are electronically filing their federal tax returns in record numbers this year.

The Internal Revenue Service released its 2008 IRS Data Book showing big increases last year in tax filings and revenue.

The Internal Revenue Service has been spending tens of thousands of hours auditing nonprofit credit counseling agencies and ordering changes at the vast majority of them, according to newly released data.

The $410 billion spending bill approved Tuesday evening by the Senate to help fund the federal government for the rest of the year includes funding for some nine federal agencies, including the Internal Revenue Service.

Automated sales tax solutions provider SpeedTax and CPA and business advisory firm Wipfli have partnered in a venture to deliver SpeedTax’s software-as-a-service sales tax applications to Wipfli’s Microsoft Dynamics GP customers.

An Arizona tax preparer has been charged with diverting thousands of dollars’ worth of his clients’ tax refunds to his own bank account.

The Internal Revenue Service has begun offering self-assistance options at some of its offices that give taxpayers limited access to computers and phones so they can reach the IRS’s Web site and toll-free phone lines without waiting in a long line, but those efforts can still be frustrating.

An Ohio CPA urges the National Taxpayer Advocate to lobby elected officials to do their own taxes.