Tax Strategies

Busy season, long days, work on weekends, that’s all inevitable, right?

The Internal Revenue Service is providing taxpayers' personal and financial information to agencies in all 50 states, but is not adequately safeguarding the security of that information, said a report from a Treasury Department watchdog.

Relatively few taxpayers are making use of the Advanced Earned Income Tax Credit, but many of those who do receive the AEITC do not comply with the requirements of the program, according to a government report.

President Bush made several proposals late last week to relieve homeowners from the burden of the imploding mortgage market, just in time to grab Congress's attention as it returns this week from summer recess.

The federal government is itself a tax delinquent, owing approximately $45 million in employment taxes, according to a report from a Treasury Department watchdog.

A federal court has permanently barred a Georgia man from advising clients that they do not have to pay income taxes because they belong to a group called the Yamassee Native American Tribe.

House Ways and Means Committee Chairman Charles Rangel, D-N.Y., plans to hold a hearing on fairness and equity in the Tax Code.

Two high-ranking senators are calling for the Government Accountability Office to investigate the growing problem of tax fraud related to identity theft and how it contributes to the tax gap.

CCH said it would improve its ProSystem fx Scan software for capturing documents in accounting firms by using EMC's Captiva software as the scanning engine.

The Internal Revenue Service introduced a Voluntary Closing Agreement Program that will help financial firms avoid harsh penalties for violating federal tax laws on arbitrage investment restrictions for municipal bonds.