Tax

H&R Block said it has entered into an agreement with Republic Bank and Trust Company to sell assets and transfer liabilities from its H&R Block Bank unit to Republic.

The Internal Revenue Service said in an email to tax professionals Friday that it would begin sending letters to enrolled agents in late July when their enrollment status is being inactivated or terminated because of their failure to renew.

Thomson Reuters has released the 2013 edition of its annual Tax Planning Guide.

House Ways and Means Committee chairman Dave Camp, R-Mich., contended that the immigration reform bill approved by the Senate last month violates the Constitution because it contains revenue provisions that are supposed to originate in the House.

The Treasury Department said Friday that due to overwhelming interest from countries around the world, it will extend by six months the start of the withholding and account due diligence requirements of the Foreign Account Tax Compliance Act, or FATCA, until July 1, 2014, to allow more time to complete agreements with foreign jurisdictions.

There’s more to estate planning than simply trying to minimize taxes under the provisions of a will and various trusts, as criticism over the will of the late James Gandolfini attests. A number of estate experts have weighed in the provisions of the will, which was filed last week in Manhattan Surrogate’s Court.

Seventy-nine percent of New Jersey CPAs anticipate their clients will pay more taxes in 2014 than 2013, according to a new survey.

The Internal Revenue Service has issued a formal notice that officially delays the employer shared responsibility provisions of the Affordable Care Act, also known as the employer mandate, for a year and postpones the information reporting requirements.

Unauthorized immigrants are already paying $10.6 billion a year in state and local taxes, according to a new analysis that estimates an additional $2 billion revenue increase for the 50 states and the District of Columbia if undocumented immigrants who currently in the U.S. are allowed to work legally.

The New York State Department of Taxation and Finance outsourced the responsibility of refunding money to a new contractor this year and many taxpayers who filed paper-based returns still have not received their refunds.