Tax

President-elect Barack Obama and his transition team reportedly plan to propose approximately $300 billion in tax cuts as part of an overall economic stimulus package.

The Internal Revenue Service has added four new tax experts to its IRS Advisory Council who will provide the agency with outside input on tax administration issues.

The Internal Revenue Service has issued new regulations on cost-sharing arrangements for multinational companies that provide some extra flexibility in transfer pricing schemes.

Accounting firm Holtz Rubenstein Reminick plans to hold a town hall-style meeting for New York-based individuals or businesses that were defrauded by Bernard Madoff's investment scam.

The economic turmoil of the past year presents a unique opportunity for accountants to broaden their practices to include financial planning.

The Internal Revenue Service has set Monday, Jan. 5, as the deadline for victims of Hurricanes Gustav and Ike to qualify for tax relief.

A commission is expected to recommend a 50 percent increase in federal gasoline taxes to help fund infrastructure projects.

Former New York City Police Commissioner Bernard Kerik pleaded not guilty last week to tax fraud charges.

The families of tax attorney Atif Irfan and his brother Kashif were removed from an AirTran Airways flight after other passengers complained of suspicious comments they overheard.

The Internal Revenue Service Advisory Council's 2008 Report contains more than 70 recommendations on a wide variety of issues affecting tax administration. The recommendations focus on communication, relief and assistance due to the economic downturn."It's refreshing to see that communications are a concern," said Robert Kerr, senior director of government relations at the National Association of Enrolled Agents. "The IRS is charged with a bifurcated task - enforcement and education. In both realms they have to communicate fairly complex things."