A senior citizens advocacy group is warning that millions of elderly taxpayers are finding themselves in the position of unexpectedly owing hundreds of dollars in back taxes as a result of the Making Work Pay tax credit, and in some cases paying penalties.

State budget deficits are prompting governors to slash spending, but also shift the tax burden away from corporations.

The Joint Committee on Taxation, which operates under the auspices of the tax-writing committees of the Senate and the House, has been given the task of conducting specific research that will help advance the ability of Congress to enact comprehensive tax reform.

The Internal Revenue Service wants taxpayers to know that they can receive their tax refunds this year in the form of a U.S. savings bond made out in someone else’s name.

What you don’t know about taxes can cost you plenty—both in terms of paying too much, and making an error that triggers an audit.

With the tax benefits of the 2009 stimulus ebbing, the tax burden is pushing slowly higher and is now at its highest level in two years, according to Deloitte. As the economy improves, more households are pushed into higher tax brackets, raising the government's take, the firm found.

The Tax & Accounting business of Thomson Reuters has released the print version of its new “WG&L VAT Handbook” to help practitioners cope with value-added taxes internationally.