Tax

The Tax & Accounting business of Thomson Reuters has released an updated version of its tax software to reflect a recent hike in the United Kingdom’s value-added tax.

The American Institute of CPAs has written a letter to IRS Commissioner Douglas Shulman urging more flexibility in implementing mandatory electronic filing of tax returns by tax preparers in 2011 for individuals, trusts and estates.

Democratic and Republican lawmakers are gearing up for a fight over a bill that would repeal health care reform and the tax credits associated with the law.

The House Republican leadership plans to introduce rule changes that would make it harder for Congress to pass tax increases or close tax loopholes.

Complex changes to tax laws and uncertainty around regulations - and 2010 saw almost unprecedented levels of both - always drive more taxpayers to turn to professional tax return preparers.

Call it a tax trifecta: In just eight years, WTAS has roughly tripled its revenues, its number of partners and its client base.

The Internal Revenue Service released more information Thursday on the implementation of the new Treasury regulations governing tax return preparers and the new requirements to obtain a Preparer Tax Identification Number, including those who work at CPA firms.

A new website is urging “Americans who have the means” to donate their Bush tax cuts to a group of charities.

The Internal Revenue Service should take immediate action to strengthen its controls over the processing of refunds issued to nonresident aliens to prevent such individuals from receiving erroneous refunds, according to a new government report.

The Tax & Accounting business of Thomson Reuters has issued a comprehensive analysis of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 on its Checkpoint research service.