Tax

The President's Advisory Panel on Tax Reform will get an additional two months to complete its work.

The Senate Finance Committee has marked up the Energy Policy Tax Incentives Act of 2005, the title of the energy policy bill now before the full Senate.

CCH Tax and Accounting has added two major new stand-alone libraries in the Miller accounting and auditing series to its Accounting Research Manager.

Big Four firm KPMG LLP, which is in talks with the Justice Department related to the agency's ongoing tax shelter probe, said that it takes "full responsibility" for the past unlawful conduct by some its former partners.

The 2005 filing season was a good one for the Internal Revenue Service, according to the Treasury Inspector General for Tax Administration.

The IRS Oversight Board at its recent meeting raised concerns over the agency's plan to close some of its Taxpayer Assistance Centers this fall.

A California start-up is entering the online tax prep software fray with the launch of a new Web-based software package aimed at accounting firms with up to 15 practitioners.

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.