Tax

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.

The New York State Department of Taxation and Finance said it has helped 42,415 taxpayers who called its Taxpayer Information Center with language assistance in 79 different languages.

The Internal Revenue Service plans to put in place new procedures starting next January to limit the number of refunds electronically deposited into a single financial account or pre-paid debit card to three, as part of an effort to combat fraud and identity theft, including fraud committed by unscrupulous tax preparers.

Health care reform tax issues for 2014

From SEP and SIMPLE IRAs to Solo 401(k)s

Sole proprietors and practitioners mainly generate their revenue during tax season from tax preparation clients, but there are other opportunities for them.