Tax Strategies

The Internal Revenue Service Advisory Council has released its annual report featuring recommendations on a wide range of tax administration matters, including a suggestion that the IRS expand its voluntary correction programs to make it easier for taxpayers to self-report any prior year non-compliance.

Senate Finance Committee chairman Max Baucus, D-Mont., unveiled a series of proposals Wednesday to combat tax fraud and make the tax-filing process simpler and more efficient.

Some big-dollar tax deductions that affect businesses are set to expire in 2013, so now’s the time to make sure your company considers taking advantage of them for the current tax year. Doing so may allow you to buy more equipment, send less to the IRS, or both.

At a hearing Monday before the IRS, a number of employer groups urged the agency to alleviate the burdens and costs to employers of health care coverage reporting under the Affordable Care Act by allowing for greater flexibility and simplification in the reporting requirements.

Senate Finance Committee chairman Max Baucus, D-Mont., has released the first in a series of discussion drafts for overhauling the Tax Code, with the first set of proposals focusing on international tax reform.

The higher tax rates passed by Congress this year have some top U.S. earners seeking last-minute strategies to lower their tax bite as year-end calculations turn up unpleasant surprises.

Behind the glazed white terra cotta facade of the Ritz-Carlton hotel in New Orleans is a 16-year legal battle with the Internal Revenue Service.

Unlike last year, tax planning for 2013 is not hampered by uncertainties over a looming fiscal cliff. Unfortunately, there is always some uncertainty and a few expiring provisions to warrant special attention by taxpayers.

Many small and midsize online retailers are worried about the impact on their profitability if federal legislation is approved that would require them to collect sales taxes from customers, according to a new survey.

U.S. and French officials signed an intergovernmental agreement Thursday to advance the implementation of the Foreign Accounting Tax Compliance Act.