Tax

A recent study of unpublished Internal Revenue Service data has found that wealthier people are hiding their income at greater rates than those in lower income brackets.

The Internal Revenue Service reported that it has seen a strong response to its settlement offer for two types of tax shelters, with companies agreeing to pay back taxes totaling billions of dollars.

Federal Reserve Chairman Ben Bernanke has given new life to calls for an economic stimulus package, but exactly what it will be is anybody's guess.

The New York State Society of CPAs and its Foundation for Accounting Education plan to hold an auditing conference on Oct. 27.

Cindy McCain has released the summary pages of her recently filed 2007 federal tax return.

BNA said its vice chair, Sandra C. Degler, has died of cancer.

An Internal Revenue Service employee has been sentenced to one year's probation for improperly accessing tax information about one of his acquaintances.

Tax software manufacturers predict that the impending election will fuel the tax prep market, as both presidential candidates propose significant changes to the Tax Code."The tax side of business will be brisk across the board regardless of the space they're playing in, because whoever becomes president will try to change the Tax Code, and change means more business," said Gene Goldenberg, senior vice president of marketing for CCH Small Firms Services, makers of ATX and TaxWise.

INTUIT, BLOCK TO OFFER FREE 1040 E-FILING NEXT YEAR

The Internal Revenue Service has not developed sufficient processes to ensure that more than 61 million tax refunds were directly deposited last tax season to the correct bank account, according to a new report from the Treasury Department’s inspector general.