Tax

The House Judiciary Committee, through its Subcommittee on Regulatory Reform, Commercial and Antitrust Law, held a hearing Tuesday on nexus issues involving three bills before the Committee.

As expatriate taxpayers face increasing difficulties from implementation of the Foreign Account Tax Compliance Act, the Internal Revenue Service is offering YouTube videos and other online resources to assist taxpayers overseas.

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

Rothschild Bank AG, the Zurich-based private bank of the Rothschild financial dynasty, became the latest Swiss bank to be fined by the U.S. Justice Department for helping Americans conceal assets offshore.

H&R Block is testing new technology that uses Facebook’s Oculus virtual reality equipment to provide avatars of tax preparers for customers of the future.

Bloomberg BNA Tax & Accounting executive editor George Farrah talks about new features in his company's research products, in an interview with Accounting Today editor-in-chief Dan Hood.

George Farrah, executive editor of Bloomberg BNA Tax & Accounting, discusses changes in the accounting profession and the technology and recruiting strategies used by firms, in an interview with Accounting Today editor-in-chief Dan Hood.

The Internal Revenue Service has released new guidance on penalties for failing to file a foreign bank account report, capping the maximum percentage of the penalty and providing new requirements for documentation and approval by IRS examiners.

The Internal Revenue Service discovered last month that criminals accessed around 104,000 tax returns through its Get Transcript application and tried to get hold of approximately 100,000 more.

The IRS’s initiative to expand online services for taxpayers makes it more likely that the U.S. tax agency will be hit by “hackers and other fraudsters,” the agency’s inspector general said Tuesday.