Tax

Despite Internal Revenue Service assertions that it had halted the decline in the government's efforts to police corporate tax non-compliance, the pace of corporate audits is running well below the record-low levels registered in 2003, according to an analysis of IRS data.

The American Institute of CPAs has named Thomas J. Purcell III to a two-year term as chairman of its Tax Executive Committee, the tax policy and standards-setting body of the AICPA.

With the dust finally settling on the American Jobs Creation Act of 2004, tax professionals are studying its voluminous sections and clauses to map out optimum strategies.

A controversial tax return inspection provision contained in a Bush administration budget bill for fiscal 2005 will be removed before the legislation is sent to the White House for the president's signature.

A controversial tax return inspection provision contained in a Bush administration budget bill for fiscal 2005 will be removed before the legislation is sent to the White House for the president's signature.

A controversial tax return inspection provision contained in a Bush administration budget bill for fiscal 2005 will be removed before the legislation is sent to the White House for the president's signature.

A controversial tax return inspection provision contained in a Bush administration budget bill for fiscal 2005 will be removed before the legislation is sent to the White House for the president's signature.

Internal Revenue Service enforcement activities brought in a record $43.1 billion in fiscal 2004, up 15 percent, or $5.5 billion, over 2003, the agency reported.

The Internal Revenue Service has raised the standard business mileage rate for automobile expenses for 2005 by three cents -- the largest one-year rise ever.

Tax reform under a second Bush Administration will most likely take the form of piecemeal tax cuts, according to panel participants at a conference of the Council for Electronic Revenue Communication Advancement, a government-private industry trade association.