Tax Strategies

The Internal Revenue Service appointed four people to high-ranking positions at the agency.

Rep. John Dingell, D-Mich., said he plans to issue a proposal when Congress returns from recess that would impose stiff new taxes on gasoline and end the mortgage interest tax deduction on "McMansions," or homes greater than 3,000 square feet, as a way to discourage over-consumption of fuel.

CCH's Small Firm Services unit introduced software that lets tax professionals scan W-2, 1099 and other information forms directly into clients' tax returns.

The Internal Revenue Service has problems with its tax return preparation assistance, but still offers helpful advice with tax laws, said a report issued by a Treasury Department watchdog group.

Sen. Charles Schumer, D-N.Y., has written letters to the Big Four accounting firms asking what they are doing to let their financial institution clients know about waivers on mortgage accounting standards that could let borrowers refinance their loans.

Republican presidential candidate Rudolph Giuliani announced his tax proposals, saying he would make the Bush administration tax cuts permanent, eliminate inheritance taxes and reduce marginal tax rates.

The Justice Department has filed suit against a Maine tax preparer to keep her from preparing tax returns for others, even though she is currently in prison.

CCH introduced a CPE Podcast Center with downloadable audio files that accountants can listen to on their iPods to earn continuing professional education credits.

Tax Compliance Inc. has released an upgrade of its Property Management Tax System with improved asset-mapping tools.

Steve Bennett, Intuit’s CEO and president, plans to step down at the end of the year, the tax and accounting software developer said.