Tax

At times, taxing authorities give out surprising beneficial rulings. The only problem is, you must ask for the ruling. For example, there was my October 24, 2006, WebCPA column about an advisory opinion issued by the New York State Department of Taxation and Finance.It answered the following question: Are you taxed as a New York resident if you move into a New York nursing home for care because you are incompetent and in need of constant medical supervision? According to the opinion, the individual, lacking intent to move, remained a resident of Florida despite the move to a New York nursing home for care.

Two accountants have entered guilty pleas in connection with the sale of legally-questionable tax shelters.

Wolters Kluwer business CCH announced that Mike Sabbatis has been named to the newly-created position of president for CCH Tax and Accounting U.S.

Business taxpayers in Illinois will be the first in the country able to pay state withholding and federal taxes at the same time, through a single system.

The Internal Revenue Service announced that it has reached an agreement with the Hollywood Foreign Press Association to settle the pesky problem that is the taxing of exborbitant celebrity gift baskets.

What kind of company processes payroll and credit card and check payments, and offers banking services and account aggregation? Increasingly, the answer is an accounting software company.

The Treasury Department and the Internal Revenue Service issued a notice providing extensive guidance on several Pension Protection Act rules relating to distributions from tax-qualified retirement plans. The guidance addresses many questions on the law’s provisions, including:

In a brief filed Monday in federal appeals court, 30 states said that a number of investment banks are liable for their alleged role in Enron Corp.’s accounting fraud.

Sage Software has unveiled its annual tax update release for its Sage FAS Fixed Assets product line.

The Internal Revenue Service will begin processing both e-file and paper tax returns that include claims for the major “extender” provisions enacted by Congress on Feb. 3.