Tax

The House has passed a fix for the alternative minimum tax, voting 352-64 to keep up to 23 million taxpayers from falling prey to the AMT.

The Treasury Department has issued a report on improving the competitiveness of the U.S. business tax system, offering three alternative approaches designed to cut the corporate tax rate in the U.S. compared to other industrialized countries.

A majority of companies do not have a formal, documented tax risk management strategy in place, according to a newly released survey.

The Internal Revenue Service has issued guidance on whether a taxpayer can claim a dependency exemption deduction for an unrelated child.

'Tis the season for holiday cheer and especially gifts, so herewith are some presents that accountants might like to find coming down the chimney this year in the company of a chubby bearded man.

The cost of preparing the average tax return rose just 2 percent in the past two years, according to a newly released survey.

The Internal Revenue Service improved most of its filing season services during 2007, but there are still opportunities for better performance this coming season, according to a new report.

IRS is driven in its desire to close the tax gap and views tax practitioners as being an obstacle in the middle, according to Charles Rettig with the law firm of Hochman, Salkin, Toscher & Perez, P.C.,in Beverly Hills, Calif.

Environmental whistleblower Marrita Murphy has asked the U.S. Supreme Court to hear her civil rights tax appeal after another appeals court reversed its own original ruling.

A computer program the Internal Revenue Service has been developing to expedite tax-exempt status requests is behind schedule, over budget and not performing all that well either, according to a report from the Treasury Department's in-house watchdog.