Tax

Sunday marked the 100th birthday of the U.S. federal income tax with the passage of the 16th Amendment to the Constitution on Feb. 3, 1913.

The Internal Revenue Service is reminding tax preparers to include complete Earned Income Tax Credit checklists with any tax returns they file claiming the tax credit.

In addition to all the usual difficulties of tax season, some preparers are saying that glitches have appeared in their tax prep software as the filing season kicks off.

A federal judge has denied the Internal Revenue Service’s request to suspend his January 18 ruling that struck down the IRS’s tax-preparer scheme as unlawful, but made some important clarifications in a ruling he issued last month.

The Internal Revenue Service plans to begin accepting corporate, partnership and tax-exempt returns starting at 9:00 am Eastern Time on Monday, but with some important exceptions.

The late start to this year's filling season has both good and not-so-good implications,

Some taxpayers seeking a quick refund may have to wait longer than usual this year as the Internal Revenue Service tries to stop criminals who steal others’ identities and file fraudulent returns.

Without some kind of accepted certification program, the taxpaying public has no way of knowing if a person who says that they are a professional tax preparer has any training or experience. The answer would be some kind of voluntary “certification program” where a tax preparer could receive a universally accepted professional designation based on testing or credentials.

The Tax & Accounting business of Thomson Reuters has introduced a transfer pricing software product that helps multinational corporations like Ford Motor Company cut their tax bills.

The Internal Revenue Service is promising more video conferencing assistance for taxpayers, social media tools and an improved Web site as it launched tax season Wednesday, along with stepped-up efforts to protect taxpayers from tax refund fraud and identity theft.