The Tax Court has decided that media mogul Sumner Redstone’s 1972 transfer of stock to a trust set up for his two children was a taxable gift, but declined to impose a penalty for fraud, negligence, or failure to timely file. Redstone graduated from Harvard Law School in 1947 and spent several years in the […]
The National Society of Accountants is offering some year-end tax tips for businesses, courtesy of Wolters Kluwer Tax Accounting US.
A pair of Republican lawmakers have introduced legislation to require professional tax preparers to undergo examinations, take annual continuing education classes and submit to a background check.
The Internal Revenue Service plans to make improvements in the way it assists victims of tax-related identity theft after a new government report says further improvements are needed. J. Russell George
Highlights of some of our favorite tax-related blogs from the past week.
The Internal Revenue Service’s Criminal Investigation unit released its annual report Thursday, as the group contends with a shrinking budget and recent controversy over its use of cell phone tracking technology. Richard Weber
(Bloomberg) Tax cheats can breathe a little easier. The gun-toting Internal Revenue Service investigators who send felons to prison are retiring in droves and there’s no one to replace them.IRS Criminal Investigation agents are the elite special forces in the never-ending war on tax evasion.
Congress has passed highway-funding legislation that includes two tax provisions that would allow the State Department to revoke the passports of long-term tax delinquents who owe more than $50,000 in tax debts and revive a program requiring the IRS to hire private debt collection agencies.
Catherine Murray As 2015 comes to a close, taxpayers are once again facing uncertainty as Congress has yet to act on a host of important provisions that expired at the end of 2014.
The Internal Revenue Service is letting former students of a now-defunct for-profit college chain, Corinthian Colleges, to avoid including their forgiven student loan debts within gross income.