Tax

The Internal Revenue Service and the Treasury Department said they would consider a complicated tax maneuver involving controlled foreign corporations a "transaction of interest," but stopped short of identifying it as a "tax avoidance transaction."

An analysis of charitable foundations set up by professional basketball players found that many of them spend only a fraction of their money on charitable activities.

Tax and accounting software vendor Intuit made BusinessWeek's list of the World's Most Influential Companies.

The Internal Revenue Service is proposing temporary regulations on foreign base company sales income.

The Internal Revenue Service has finalized the revised Form 990 and 990-EZ information returns that tax-exempt organizations will need to file next year.

The Internal Revenue Service has given Section 529 tuition programs the ability to change their investment strategies more frequently in response to the financial crisis.

Lawmakers have passed more than 100 new tax law changes that could help millions of individual taxpayers save money on their taxes this coming season.

The Internal Revenue Service collected about $3 billion less in revenue from audits this year after assigning staff to work on processing economic stimulus payments.

New York Governor David Paterson is trying to close a record deficit of $15.4 billion with 137 new tax and fee increases, including a new tax on sugary sodas.

The National Retail Federation has asked President-elect Barack Obama to include a series of sales tax holidays within the economic stimulus legislation he is drafting with Congress.