KPMG LLP received federal court approval for a $153 million settlement with more than 200 wealthy investors who bought questionable tax shelters from the Big Four firm.

Some taxpayers make novel arguments in attempts to be taxed at a favorable capital gains rate. Wolman v. Comm. is a Tenth Circuit Court of Appeals order and judgment affirming a Tax Court decision, and it shows how creative taxpayers can be.

The U.S. Attorney for the Northern District of Ohio has announced the filing of three criminal charges against CPA Kimball E. Rubin, of Beachwood, Ohio, for failure to file income tax returns.

Years ago, I remember watching a news vignette about a drawbridge in some frigid state that kept an operator on duty 24 hours a day.

The 2006 filing season set a series of records, highlighted by 70 million tax returns filed electronically - up 6 percent from last year.

It's been about eight months since the Streamlined Sales Tax Project - the sales tax and use system designed to retrieve lost revenue for states whose tax base is dwindling as a result of online commerce - came into effect on October 1.The goal of the SSTP - which was originally conceived about six years ago - is to formulate a workable interstate agreement that would create a simplified sales and use tax collection system that could be used by retailers regardless of their location. The SSTP establishes uniform definitions of taxable goods, sets rules for sourcing transactions, and centralizes the registration and administration process for retailers to participate in the system.

Although the continuing thirst of states for more dollars to fuel spending increases has led to a variety of efforts to augment tax revenue, they differ widely on what they consider sufficient contact with a business to give them the authority to tax it."Nexus" is the minimum amount of contact between a taxpayer and the state that would permit taxation by the state. It arises from the Constitution's due process clause, which requires a minimum connection between a state and an entity that it seeks to tax, and the Commerce Clause, which prohibits states from unduly burdening interstate commerce.