Tax

With Democrats and Republicans in Congress battling over competing tax legislation this week, one new bill should be able to attract bipartisan support.

Agents at the IRS’s Criminal Investigation division have been cracking down on tax preparer fraud in Southern California in the waning days of tax season.

Senate Republicans blocked a bill promoted by the Obama administration that would impose a minimum tax on millionaires.

The Internal Revenue Service delayed tax refunds early this filing season for 7.8 million tax returns, according to a report by the Treasury Inspector General for Tax Administration, which also described steep cutbacks in customer service at the IRS.

President Barack Obama and congressional Republicans square off this week over tax hikes for millionaires and tax cuts for businesses, with both sides seen as more interested in scoring political points than in fixing the tax code or shrinking the deficit.

Teresa Mackintosh has joined CCH as executive vice president and general manager of tax. She will head CCH's Tax business unit, serving tax professionals in accounting firms.

While every state offers tax incentives to attract, retain and expand businesses and jobs, few states actually provide good evidence that the tax breaks deliver an effective return on investment, according to a new report.

Just a few days ahead of the tax-filing deadline, President Barack Obama and Vice President Joe Biden released their 2011 tax returns on Friday.

“Only two things in life are certain,” Marc Albaum tells his clients. “I can help you with the other one.”

Taxpayers around the country are encountering longer wait times on IRS phone lines and at Taxpayer Assistance Centers due to budget cuts at the agency.