The U.S. Treasury Inspector General for Tax Administration (TIGTA) has recently issued a 40-page report indicating that the IRS’s e-help desk, launched in 2002, has several problems that need to be addressed.The e-help desk is a telephone call-in service provided by the IRS for taxpayers who have questions about electronic tax filing services offered by the IRS.

Complex steps for claiming the Earned Income Tax Credit and a lack of awareness about the benefit are the most common reasons why taxpayers fail to claim it, according to H&R Block.H&R Block, which prepared one of every four tax returns claiming the EITC in 2006, helped more than 5 million taxpayers claim nearly $10 billion in EITC benefits last year. Still, the IRS estimates that nearly a quarter of those who qualify don't claim the valuable credit, leaving as much as $1 billion unclaimed.The EITC offsets income taxes as a work incentive for low-income Americans.

The taxation section of the American Bar Association recently announced winners in the 2006 Law Student Tax Challenge, an annual event drawing law student participants from around the country. On average, approximately 40 two-person teams enter the competition each year. Both J.D. and LL.M. degree candidates are eligible to enter, and winners are chosen from both divisions of candidates.

When the prospect of a big tax bill ruined a man’s chance for a ride into space, a space tourism startup put his dream back on track.Brian Emmett has signed on to become a tax-free “test passenger” for Benson Space Co., which plans its first flight for the end of next year. Emmett will serve as a consultant, offering feedback during the testing phase of the project, according to the Associated Press.Emmett recently turned down his original chance at weightlessness after winning a spaceflight from the Oracle Corp. as part of a 2005 sweepstakes.

The IRS has issued temporary and proposed regulations relating to deductions for the cost of producing film and television productions under Code Sec. 181. The regulations affect taxpayers that produce films and television productions within the United States, and became effective February 9, 2007.BackgroundCode Sec. 181, which was added by the American Jobs Creation Act of 2004 (P.L. 108-357) and modified by the Gulf Opportunity Zone Act of 2005 (P.L.

H&R Block Inc. announced that the H&R Block Bank reached its goal of opening one million bank accounts for free nearly three months earlier than expected because of the overwhelming popularity of the prepaid card.The company expected to reach its goal by the end of tax season - April 17 this year. Instead, the milestone was reached after slightly more than two months of offering the accounts, which can be accessed with the H&R Block Emerald Prepaid MasterCard®.In those two months, the card has helped H&R Block clients save nearly $30 million on check-cashing fees.

Information Security Management is expected to continue to have a powerful influence over business in 2007, according to the 18th Annual Top Technology Initiatives survey of the American Institute of Certified Public Accountants (AICPA). For the fifth consecutive year, the survey identified Information Security as the technology initiative expected to have the greatest effect in the upcoming year.A related initiative, Identity and Access Management, jumped from sixth place in 2006 to second in 2007.

Companies that routinely reimburse employees for travel expenses using per diems that are higher than the federal rates, had better make sure the amounts are tracked and documented carefully.The Internal Revenue Service is going after these unsubstantiated amounts and can impose taxes on the entire per diem.