Tax Strategies

The American Institute of CPAs has sent tax reform recommendations to five of the 11 working groups on the House Ways and Means Committee tasked with studying various aspects of tax reform.

The House Ways and Means Committee held a hearing on tax reform and residential real estate, considering the effect of changing popular tax breaks like the mortgage interest deduction.

The Internal Revenue Service has issued draft versions of two forms needed for overseas taxpayers to file in connection with the Foreign Account Tax Compliance Act.

It’s been kicking around in one form or another for the better part of a decade, but it looks as though it finally has some momentum.

The Internal Revenue Service is continuing to make progress in its implementation of key elements of the Affordable Care Act, according to a new government report, but it could expand the use of employer-provided health care information to ensure employer, health insurer and taxpayer compliance with the ACA.

A loose coalition of anti-tax activists, direct marketers and financial industry trade groups has a tough task this week in overcoming bipartisan support for letting states impose sales taxes on out-of-state sellers.

It might be tempting for small business owners, and their advisors, to contemplate the higher tax rates on individuals spawned by the American Tax Relief Act, and conclude that switching their S corporation to a C corporation makes sense.

Rep. Keith Ellison, D-Minn., introduced a bill Wednesday that would establish a tax on the trading of stocks and other financial products.

The Internal Revenue Service does not always recognize and properly investigate signs of tax fraud, according to a new report, foregoing at least millions of dollars in potential fraud penalties.

A pair of Congressmen have introduced legislation that would allow the Internal Revenue Service to provide taxpayers with a tax form already containing information received from employers and banks to streamline the tax prep process.