Tax

The Internal Revenue Service needs to do a better job of managing its sales of seized property, recommends a report by the Treasury Department's inspector general.

An Ernst & Young partner has teamed up with a movie studio accountant to produce an online comic book based on the TV series and recent movie Get Smart that provides an overview of tax deductions for the film and TV industry.

“Technology is making it possible for smaller accounting firms to make sure their clients don’t get in trouble over payment of sales and use taxes. How have most firms handled this in the past?” was the speaker’s question. “They didn’t,” was the answer from attendees at MD Biz, Maryland Business & Accounting Expo, who were probably more interested in continuing education credits than the speaker’s comments (mine).

The National Football League is asking for an exception to new Form 990 rules that require tax-exempt organizations to disclose the names and salaries of any executives who earn more than $150,000 per year.

The Internal Revenue Service has introduced a free e-mail service to provide tax information to small business owners and the self-employed.

Two senators criticized the nonpayment of federal taxes by many U.S. companies and foreign companies doing business in the U.S. after a report was issued this week.

Approximately two-thirds of U.S. companies and foreign companies doing business in the U.S. paid no federal income taxes between 1998 and 2005, according to a new report.

A court ruling last week by the U.S. Court of Federal Claims could increase claims for tax refunds by insurance policy holders who sold stock in insurance providers that went public.

The Internal Revenue Service has not always followed the proper procedures when resolving discrepancies in the money owed by taxpayers for the alternative minimum tax, according to a new report.

The Internal Revenue Service placed a $228,806 tax lien on former Cleveland Browns quarterback Bernie Kosar, which he said he has now paid.