Tax

The Internal Revenue Service said it will appeal a court’s ruling that it lacks the power to license tax preparers, a decision that might affect as many as 700,000 people who work on clients’ returns.

Four states have signed up for a new system aimed at combating the growing problem of identity theft-related tax fraud.

Mergers and acquisitions are expected to increase in 2013, according to a new survey, with 76 percent of the more than 300 M&A professionals in the U.S. who were polled anticipating that their company will make at least one acquisition in 2013.

The Internal Revenue Service provided advice to taxpayers Wednesday on dealing with the late opening of tax season on January 30 that could also prove helpful to tax preparers.

Unfortunately, recent events make fundamental tax reform, already a heavy lift, much less likely.

While Section 179D of the Tax Code expires at the end of 2013, opportunities exist in two areas: accelerating future projects into 2013 and reviewing projects dating back to Jan. 1, 2006 that resulted in energy savings.

The American Institute of CPAs has written to the leaders of Congress’s tax-writing committees asking them to expand the replacement period for property loss for taxpayers affected by Hurricane Sandy.

The Internal Revenue Service reacted Tuesday to the surprise ruling Friday by a federal judge striking down the IRS’s authority to regulate tax preparers, shutting down its Preparer Tax Identification Number registration system and its testing system for tax preparers.

Professional services search firm ExpertBids has released its 2012 tax Webpage designed to help small and medium sized businesses across the United States find the right tax accountant free of charge.

In a stunning blow to the Internal Revenue Service’s efforts to regulate the tax preparation profession, a federal judge struck down the IRS’s licensing requirements for tax preparers on Friday, including testing and continuing education.