Tax

Rising education costs mean clients can’t pass these up

Approximately 83,000 employees and contractors who work for the Department of Defense, and are eligible for a security clearance, owe more than $730 million in unpaid federal taxes, according to a new government report.

For tax preparers who aren’t interested in extending their tax business beyond the end of April, but who would like to keep themselves and their staff employed in some meaningful activity, accountant Craig Comer has a suggestion: go into another seasonal business.

The growing number and complexity of large partnerships, such as hedge funds, are making it difficult for the Internal Revenue Service to audit them effectively, according to a new government report.

I remember the tax-cutting years in previous political eras. Those were the good old days. Now it’s easy to get the impression we have higher income taxes and an extra tax on investment earnings. But analyzing taxes and the reasons behind them are not that simple. Some brackets are actually lower today, and some taxpayers are paying at a higher rate while others are paying at a lower rate.

Thomson Reuters has released a special report for tax professionals on how to respond to Internal Revenue Service examinations.

Businesses that are struggling with transfer pricing issues are hoping that a new tool from the IRS will lead to a streamlined tax audit process, according to a new survey from KPMG LLP.

Thomson Reuters has released the 2014-2015 edition of its Tax Planning Guide, which accountants and tax professionals can distribute to their clients and prospects.

The nonpartisan Tax Foundation research group has released a primer on the Marketplace Fairness Act, the legislation that proposes to establish federal law governing sales taxes on online purchases.

A federal appeals court has upheld a penalty assessed against the estate of a deceased man because the executor filed the return late, even though estimated taxes had been paid.