Tax

The Internal Revenue Service is asking taxpayers and tax preparers to make sure they properly determine eligibility for the recovery rebate credit before they file their 2008 federal tax returns.

The Internal Revenue Service warned that many investors and other taxpayers may receive their year-end tax statements later than in past years, but the forms are likely to be more accurate.

A woman who posed as a tax accountant and CPA has pleaded guilty to six counts of tax fraud after she prepared returns for police and firefighters.

Tom Daschle, President Obama’s pick to lead the Department of Health of Human Services, has withdrawn his nomination amid revelations that he recently owed more than $140,000 in taxes and interest.

Two senators want to stop multinational companies from lobbying to include a tax break for offshore earnings in the economic stimulus package.

Even with the current downturn in the real estate market, like-kind exchanges continue to be a popular way to dispose of property while deferring the taxable gain.

Drake Software said that it has sold more tax software than ever before in its 32-year history.

There has been talk, and some hope, that the current financial crisis might be the perfect storm for tax reform, allowing the Obama administration to push through significant policy changes.

The Maryland Association of CPAs has created an interactive job board, the MACPA Career Center, to give its members and the CPA profession at large a targeted way to make employment connections.

President Obama’s pick to lead the Department of Health and Human Services, former Senate Majority Leader Tom Daschle, apologized for owing $140,000 in back taxes and interest.