Tax

The Internal Revenue Service has problems with its tax return preparation assistance, but still offers helpful advice with tax laws, said a report issued by a Treasury Department watchdog group.

Sen. Charles Schumer, D-N.Y., has written letters to the Big Four accounting firms asking what they are doing to let their financial institution clients know about waivers on mortgage accounting standards that could let borrowers refinance their loans.

Republican presidential candidate Rudolph Giuliani announced his tax proposals, saying he would make the Bush administration tax cuts permanent, eliminate inheritance taxes and reduce marginal tax rates.

The Justice Department has filed suit against a Maine tax preparer to keep her from preparing tax returns for others, even though she is currently in prison.

CCH introduced a CPE Podcast Center with downloadable audio files that accountants can listen to on their iPods to earn continuing professional education credits.

Tax Compliance Inc. has released an upgrade of its Property Management Tax System with improved asset-mapping tools.

Steve Bennett, Intuit’s CEO and president, plans to step down at the end of the year, the tax and accounting software developer said.

Thomson Tax & Accounting said that it is partnering with Orbitax on a product called International Tax Expert that will leverage Thomson’s Checkpoint and InSource products.

The Internal Revenue Service is encouraging more midsized companies to file their corporate returns electronically as the Sept. 17 deadline approaches for calendar-year filers who asked for extensions.

More than 8 million people file tax returns each year who don’t need to do so, imposing heavy costs on the Internal Revenue Service, according to a new report from a Treasury Department watchdog.