Tax

The Internal Revenue Service’s Taxpayer Assistance Centers are located too far away from the majority of taxpayers to be able to serve them effectively, according to a new government report.

One of the dilemmas facing many accountants and tax preparers this tax season is the problem of how to account for uncertain tax positions and deal with them on the IRS’s new Schedule UTP.

The Internal Revenue Service has posted a final version of the form and instructions for the 2010 gift tax and generation-skipping transfer tax.

Online tax preparation site Taxbrain has introduced a service that lets taxpayers ask questions or have their taxes prepared by CPAs and enrolled agents through a video chat link.

The North Carolina Department of Revenue is pointing to inaccurate information from the IRS as the reason why it sent tax due notices to up to 2,000 state taxpayers.

Rep. Jan Schakowsky, D-Ill., has introduced a bill that would levy taxes of 45 to 49 percent on millionaires and billionaires.

H&R Block chairman Richard Breeden plans to step down on April 18.

It’s comforting to know that tax reform is proceeding apace on several different fronts.

House Ways and Means Committee Chairman Dave Camp, R-Mich., has proposed reducing the top individual and corporate tax rate to 25 percent.

Intuit reported Thursday that it has seen an increase in the number of tax returns electronically filed by professional preparers so far this tax season.