Tax

The National Conference of CPA Practitioners held a quarterly meeting in Washington to meet with various senators and representatives as well as the Internal Revenue Service, and talk about tax policy.

The Internal Revenue Service's Spring 2008 Statistics of Income Bulletin is a bit of misnomer as it mainly covers income stats for 2006 and 2005, but the report does provide some interesting insights into income patterns and sources in recent years.

Under new regulations, taxpayers must consent to the disclosure or use of their tax information by return preparers. Stiff penalties can be imposed on the preparer who makes unauthorized disclosures.

The Senate has approved a bill offering more than $1.2 billion in tax relief to veterans and military families.

The Senate voted 82-13 to override President Bush's veto of the Farm Bill, which includes nearly $2 billion in tax relief.

Under new regulations, taxpayers must consent to the disclosure or use of their tax information by return preparers. Stiff penalties can be imposed on the preparer who makes unauthorized disclosures.

Actor Wesley Snipes will remain free on bond pending appeal of his conviction.

The Treasury Department said it plans to start sending out more tax rebate checks as soon as it finishes mailing checks for regular tax refunds.

Under new regulations, taxpayers must consent to the disclosure or use of their tax information by return preparers. Stiff penalties can be imposed on the preparer who makes unauthorized disclosures.

Presidential hopeful Sen. Hillary Clinton, D-N.Y., has written to Internal Revenue Service Commissioner Douglas Shulman asking him to fix problems her constituents have reported with receiving the wrong amount on their tax rebates.