Tax

The Treasury Department and the Internal Revenue Service released a final package of regulations Thursday to implement the Foreign Account Tax Compliance Act and amend the regulations to align them with existing tax rules.

The U.S. Senate Permanent Subcommittee on Investigations will hold a hearing next week on a crackdown on offshore tax evasion that has stalled as prosecutors conduct criminal probes of 14 banks, including Credit Suisse Group AG.

The top Republican tax writer in Congress will release a draft plan to revamp the U.S. tax code amid political odds that are stacked against him.

The Internal Revenue Service has released a Transfer Pricing Audit Roadmap to help the transfer pricing specialists in its Large Business & International division successfully audit the tax strategies of multinational companies.

Thomson Reuters has introduced Checkpoint Learning CPE courses for the Apple iPad.

A proposed Swiss-German tax accord is dead and buried amid growing public opposition in Germany to any agreement that’s seen as too easy on evaders, senior members of Chancellor Angela Merkel’s coalition said.

The Internal Revenue Service said Friday that tax filings so far in 2014 have outpaced filings for the same time last year.

Senators Maria Cantwell, D-Wash., and Chuck Grassley, R-Iowa, have introduced bipartisan legislation to reinstate a tax incentive for the production of domestic biodiesel fuel.

Sen. Ron Wyden, D-Ore., has been confirmed as chairman of the Senate Finance Committee, succeeding Max Baucus, D-Mont., who was confirmed last week as Ambassador to China.

Although audits are a fact of taxpayer life, they're not particularly pleasant, and they can take up a lot of otherwise free time. So what should preparers say to their clients about audits?