Tax

The Internal Revenue Service will co-sponsor a free Webcast next week focusing on collection issues, including partial-payment installment agreements and offers in compromise.

Tax prep software maker Drake Software has named company veteran Tim Hubbs, CPA, as its president and chief executive.

Top-ranked accounting firms Marks Paneth & Shron LLP of New York City and Chattanooga, Tenn.-based Decosimo CPAs have forged a strategic alliance to provide sophisticated international tax planning and consulting services to midsized businesses.

The Internal Revenue Service is reminding taxpayers that the agency isn't kidding around when it comes to frivolous cases aimed at delaying tax collections.

In a move that promises to have far-reaching consequences for global operations and international tax compliance, the Supreme Court has ruled that defendants who evaded Canadian taxes could be prosecuted in the U.S. under federal wire fraud laws.

MCI agreed to pay $100 million in cash to the state of Mississippi for back taxes that the state claimed were owed by the company's predecessor, WorldCom.

A crackdown on abusive tax shelters that includes codifying the economic substance doctrine would create legal booby traps for small businesses and open the door for new abuses by unscrupulous tax shelter promoters, the American Institute of CPAs warned Congress.

With the rising deficits and a series of tax reductions enacted in the first term of the Bush administration, many tax practitioners are starting to feel that the tax situation for their clients is never going to get much better than it is right now.

The Internal Revenue Service has been shifting its priorities from taxpayer service to enforcement and its management of the Business Systems Modernization program - an ongoing umbrella program of upgrades - from contractors to IRS staff.

As part of cost-cutting measures and a move toward online services, the Internal Revenue Service will no longer mail out its compilation of federal tax forms and instructions for tax professionals, known as Package X.