Tax Strategies

The IRS is not well prepared in the event of serious disasters, according to two new reports by the Treasury Department's inspector general.

The Internal Revenue Service has added two new appeals programs for taxpayers who are disputing IRS actions.

December's a perfect time for accountants to check their lists twice to make sure they have all their bases covered before busy season starts cranking.

The Internal Revenue Service said that taxpayers who make qualifying cash contributions for disaster relief efforts in the Midwest are able to benefit from a recently passed law that suspends the percentage-of-income limits that would normally apply when taxpayers deduct the contributions on their 2008 federal tax returns.

Lawyers representing two former KPMG executives asked a judge overseeing their trial on tax charges to declare either a mistrial or dismissal in the tax shelter case.

The Internal Revenue Service issued the fall 2008 edition of its Statistics of Income Bulletin, showing growth in income for both individuals and businesses in 2006, but that was before the economic downturn had really hit.

A small business advocacy group is accusing President-elect Barack Obama of backing away from his campaign promises before he even takes office.

The Internal Revenue Service has reduced the 2009 optional standard mileage rates used to calculate the deductible costs of operating an automobile, citing lower gas prices.

CPA firm Cottrill Arbutina Professional Services has acquired an eight-person tax and audit group from S.R. Snodgrass, expanding its reach in Western Pennsylvania and its auto dealership client base.

A new report on President-elect Barack Obama's tax policies sees his mantle of change perhaps leading him to change some of his tax proposals as he works with Congress next year.