Tax

The financial rescue plan approved by Congress included many extensions of expiring tax credits and deductions that helped it win passage in the House, but it also left out some tax issues that will surely be bones of contention for the next Congress."It's safe to predict that not much will happen in a lame duck session," said Tom Ochsenschlager, vice president of taxation at the American Institute of CPAs.

The Internal Revenue Service distributed roughly $1.6 billion in refunds to taxpayers who filed falsified tax returns in 2006 and 2007, despite efforts to stop them, according to a new report from the Treasury Department's inspector general.

The Internal Revenue Service plans to increase the fee for obtaining an exact copy of a previously filed and processed tax return with all the attachments.

Online sales tax management provider SpeedTax is partnering with consultancy TaxConnex to offer sales tax automation and consulting services to business clients.

The Treasury Department and the Internal Revenue Service have issued guidance on indirect ownership of preferred stock in mortgage lenders Fannie Mae and Freddie Mac.

The American Institute of CPAs has appointed Alan Einhorn, national director of Deloitte Tax LLP's Quality Assurance Group, as the new chair of its Tax Executive Committee.

An advisory committee on tax information reporting has recommended a number of changes for the Internal Revenue Service to make to improve taxpayer identity protection, disaster reporting and other matters.

The Tax Foundation has selected three videos as winners of a contest that aims to draw attention to the high rate of business taxes in the U.S.

The Texas Society of CPAs has provided five tips that CPAs can pass along to their clients to calm their financial worries.

It might seem strange, pairing the phrase “love fest” with the AICPA Fall Council meeting, but I tell you, the lovely and heartfelt moments were flowing as freely as the wine and margaritas at the opening reception.