Tax

The Tax Increase Prevention Act extends the provision that allows certain IRA owners to make tax-free distributions to charity.

Nonprofit accounting software developer AccuFund Inc. has released a new edition of its AccuFund Accounting Suite.

Bank Leumi Le-Israel Ltd. agreed to pay $400 million and admit it helped American clients evade taxes for a decade.

ClientyWhys has launched TaxBuzz.com, a free online directory of tax professionals.

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

The Internal Revenue Service is joining with several national tax and accounting organizations to give taxpayers new options and tips on selecting reputable tax professionals and avoiding unscrupulous preparers.

The IRS is freezing hiring, stopping most overtime pay and warning that it won’t answer about half the calls it will receive during the upcoming tax-filing season.

Naming a trust as an IRA beneficiary may offer many benefits. If drafted properly, a trust can protect the account from creditors and reduce the risk that money will be mishandled.

The $1.1 trillion spending bill passed by Congress this week and signed into law by President Obama on Tuesday contains a provision directing the Treasury Department to implement uniform standards for taxpayers claiming refundable credits such as the Earned Income Tax Credit to stem improper payments.

The Internal Revenue Service received fewer phone calls from taxpayers this year than in recent years, according to a new government report, but the percentage of callers seeking help who received it remained low while wait times remained high compared to prior years.