Tax

Congress and the Internal Revenue Service are starting to take a closer look at the museums set up by private foundations that receive special tax-exempt status from the IRS.

The American Institute of CPAs has sent comments to the Internal Revenue Service and the Treasury Department on proposed regulations for estate tax basis reporting.

In the 2010 movie Robin Hood, a leather-clad Russell Crowe clashes with King John, whose harsh taxes displeased England’s medieval knights and barons. Now the makers of the film have accused Britain’s modern tax collectors of abusing their power by unfairly targeting its stars, including Crowe.

Every state or municipal government will eventually face the question of whether to raise taxes. Since the era of George H.W. Bush, officials answer increasingly "No."

Highlights of some of our favorite tax-related blogs from the past week.

The average length of time between a new computer being hooked up to the Internet and its being targeted by hackers is six minutes, experts warn -- so it’s critical to establish a defense in depth against cyber-invasion.

It’s no surprise that the experience of going through a random IRS audit affects future behavior. What is surprising is how the expected change in behavior—increased reporting of taxable income, and presumably, increased compliance—differs from corporations to individuals, and from individuals subject to third-party information to those who are not.

Despite their collective sigh of relief at the end of tax season, the lull that afflicts the profession afterwards can be disquieting.

Wolters Kluwer Tax & Accounting has acquired CPE Link, an online provider of continuing professional education for accountants, tax preparers and financial advisors.

Lionel Messi, the record five-time world soccer player of the year, appeared in a court in Barcelona Thursday as he seeks to defend himself in a tax evasion case that has cast a spotlight on the financial dealings of elite sport stars.