Tax

The Internal Revenue Service provided additional information Tuesday to help corporate taxpayers deal with the new section 965 transition tax for repatriating foreign profits under the tax law that Congress passed in December.

The Internal Revenue Service said Tuesday it plans to close the 2014 Offshore Voluntary Disclosure Program on Sept. 28, 2018 and will start winding it down before that date.

Clients may face unexpected tax consequences from transactions with these digital assets.

The tax prep chain has partnered with online lender LendingTree.

Audits aren’t the only ways the service can put them on the spot, the tax prep chain warns.

The Illinois CPA Society has some advice for taxpayers who are betting on the March Madness tournament and manage to win money on their picks for the brackets.

Fewer than four out of 10 taxpayers are happy with President Trump’s recent tax reform law, according to a new survey.

The Treasury recorded a $215 billion shortfall in February—its largest in six years—as revenue declined after passage of the Tax Cuts and Jobs Act.

At some point in my practice I had to ask a staff person if he would want to specialize in taxes. The first time occurred over 35 years ago when my main tax reviewer left for a position with another firm where he would be “more important than just a tax reviewer.”

Smartphone, iPad and Android tablet users can file their taxes on any combination of devices.