Tax

The Internal Revenue Service has been increasing its audits and examinations of high-income individuals in the past year, examining nearly 30 percent of the tax returns of those earning $10 million and more.

The Internal Revenue Service is not fully compliant with a federal law requiring the agency to eliminate and report improper payments made to taxpayers, according to a new government report.

Intuit has experienced a steady increase in sales of its Web-based consumer tax preparation product, TurboTax Online, while sales of its desktop software have dipped.

Internal Revenue Service Commissioner Doug Shulman warned Thursday of a delayed tax season next year unless Congress resolves questions over the alternative minimum tax patch and other tax extender items, and talked about the tax refund delays this tax season.

Rep. Charles Rangel, D-N.Y., has introduced a bill aimed at extending tax relief to Americans in danger of losing their homes.

House Budget Committee chairman Paul Ryan, R-Wisc., has introduced a Republican-backed alternative to the Obama administration’s fiscal 2013 budget, including a proposal to consolidating the current six individual income tax brackets into just two brackets of 10 and 25 percent.

The Internal Revenue Service has proposed regulations that would require taxpayers with Employer Identification Numbers to periodically provide the IRS with up-to-date information.

Only 16 percent of tax and finance departments are actively involved in corporate sustainability efforts, according to a new survey by Ernst & Young.

A congressional subcommittee plans to hold a hearing next Thursday on the 2012 tax return filing season, with one of the main topics to be the recent reports of tax refund delays.

The Senate failed to pass an amendment that would have extended a set of expiring tax credits for wind energy, biofuels, energy efficient homes and other tax breaks.