Tax

Unclaimed refunds totaling more than $2 billion are awaiting about 1.7 million people who failed to file a federal income tax return for 2002, the Internal Revenue Service said.

Expanding the tax types eligible for electronic payment, the Internal Revenue Service is now accepting card payments for certain balance-due business taxes through Official Payments Corp.

President Bush said that he wouldn't allow the elimination of the mortgage interest deduction as part of suggested changes to the tax code.

Executives contemplating cross-border transactions in emerging markets view local legal, tax and accounting systems as the biggest challenges to completing a transaction, according to a poll conducted by Deloitte Financial Advisory Services LLP.

H.D. Vest Financial Services has issued an open invitation to tax professionals to attend its 20th annual Vest Fest conference in St. Louis.

California's Attorney General has filed a lawsuit against H&R Block in an attempt to halt the tax prep giant's loan program, which allows the company to take a percentage of clients' tax refunds in exchange for an advance.

The Internal Revenue Service has simplified the process for business taxpayers to file for an extension.

Banking firm HVB Group will pay $29.6 million in fines and restitution to avoid criminal prosecution from the U.S. Internal Revenue Service, settling charges that it helped wealthy Americans evade more than $500 million in taxes.

Internal Revenue Service officials announced that their latest estimates of the tax gap for the 2001 tax year comes to $345 billion.

Turns out in between the normal gossip, my friends and family had somehow neglected to spread a juicy bit of exciting Ocean State news with me -- I'm talking of course about the flat tax proposal that came out of the Rhode Island House of Representatives in early February.