The Internal Revenue Service needed to put the brakes on its tax refunds this tax season when newly installed filters to prevent tax fraud and identity theft held up processing for a week or more.

The Senate Finance Committee held a hearing Tuesday to examine the growing number of tax extenders in the Tax Code that need to be renewed every year or two, and how there could be greater predictability with overall tax reform.

President Obama encouraged Congress to act on a package of legislative proposals to expand tax breaks and financing for startups and small businesses.

The Internal Revenue Service has increased its forecasts for the number of information-reporting forms it expects to receive this year and in subsequent years as a result of increased reporting requirements.

The break-up of Switzerland's oldest bank Wegelin on Friday shows the need to settle a dispute with U.S. authorities over tax cheats hiding cash in secret Swiss accounts, the finance minister said on Saturday.

The Senate Finance Committee plans to hold a hearing Tuesday to discuss finding a long-term way to handle “tax extenders”—tax provisions that frequently require annual or biannual renewals—to provide more certainty for taxpayers, not to mention tax preparers.

The National Consumer Law Center and the Consumer Federation of America are predicting that this year’s tax season will be the final one that refund anticipation loans will be available on a large-scale, nationwide basis.