Tax

The Internal Revenue Service’s Large Business & International division and its Wage and Investment division have teamed up to create a discovery tool for taxpayers with international filing requirements.

New River Innovation has enhanced its Beyond415 WorkCenter and Beyond415 Guidance products, including a simplified user interface, interactive file system, automatically saved documents, and guidance on the core phases of tax practice and procedure work.

The Marketplace Fairness Act, which the Senate passed last week, would require e-commerce vendors to collect sales taxes not only on physical items, but also on digital goods such as ebooks and music downloads.

The American Institute of CPAs has sent a letter to the Internal Revenue Service asking the IRS to re-evaluate some of its proposals for a safe harbor method for the home office deduction, even though the AICPA acknowledged that the method would be simpler for taxpayers to use.

On the heels of continuing revelations about the Internal Revenue Service’s targeting of Tea Party groups for extra scrutiny in evaluating applications for tax-exempt status, the Government Accountability Office has released a new report finding that the IRS needs to improve its internal controls.

A coalition of charitable organizations is calling on Congress to protect the charitable deduction as leaders of Congress’s tax-writing committees step up their efforts to forge comprehensive tax reform.

IMGCAP(1)]The U.S. government is expected to publish final tangible property regulations later this year.

The Internal Revenue Service said Friday that it will be making changes to the filing requirements for corporate and partnership taxpayers with assets of between $10 million and $50 million.

The fate of the Defense of Marriage Act, also referred to as DOMA, currently sits in the hands of the Supreme Court. In 2011, the Obama administration deemed parts of the Act unconstitutional because it doesn’t acknowledge same-sex marriages. The Supreme Court is expected to announce its ruling by the end of June. Marcum LLP’s LGBT Practice leaders, Nanette Lee Miller and Janis Cowhey McDonagh, sat down with Accounting Today to discuss what would happen if DOMA is struck down and what would happen with tax preparation for same-sex couples if it isn’t.

There is sometimes a disconnect in the handling of dependency exemptions and related tax credits between what courts advise a taxpayer to do and what the Tax Code actually permits.