Tax

The Treasury Department and the Internal Revenue Service have released a document containing proposed guidance for foreign financial institutions as the next step in implementing the Foreign Account Tax Compliance Act in an effort to combat offshore tax evasion.

A home office is the work reality for many CPA consultants and tax preparers. It beckons with the promise of an easy commute, and the comfort of working in your pajamas. It provides the flexibility of working when you want to. It can also save thousands of dollars that would otherwise be spent on rent. What’s not to love?

The amount of money the federal government receives from corporate income taxes has been declining since 2008, mainly because of the recession, according to a new government report.

Thomson Reuters has released an updated special report on the tax changes in the Affordable Care Act, which have become more relevant now that the health insurance exchanges have opened for business in many states, despite the technical glitches on the federal site.

Now that the October 15 extended filing deadline for personal income tax returns has passed, we have only 10 weeks to help our clients plan for the tax returns that will be due April 15.

Rep. Dave Camp, R-Mich., the influential chairman of the tax-writing House Ways and Means Committee, has written a letter to the acting head of the Internal Revenue Service complaining that the IRS’s decision to delay tax season because of the government shutdown will be a financial burden to people who count on early tax refunds.

The total number of state, county, city and transit sales tax rate increases in the U.S. rose to 129 in the third quarter of this year, compared to 69 in third quarter of 2012, according to a new report from Thomson Reuters.

Greatland, a provider of W-2 and 1099 products for business, is offering advice to help businesses and their tax preparers avoid penalties, improve compliance and know the important changes for year-end, particularly in light of the Affordable Care Act.

Mary Kopczynski, CEO of 8of9 Consulting, discusses how the intergovernmental agreements that the U.S. has been negotiating with other countries to facilitate FATCA compliance are affecting U.S. expatriates and citizens abroad, in an interview with AccountingToday.com editor-in-chief Michael Cohn.

The Internal Revenue Service announced on Tuesday that it will delay the start of the 2014 tax filing season by as much as two weeks due to delays caused by the recent closure of the federal government.