According to a new study, the amount of the mortgage interest deduction for taxpayers differs widely across the country, with the biggest deductions claimed by those living along the east and west coasts.
A federal court in Los Angeles has entered an order permanently barring John Trunzo from preparing federal income tax returns and other tax-related documents for others, the Justice Department announced April 30.
A ruling in a San Francisco federal court on April 29 allows the IRS to seek information on US taxpayers who may have offshore bank accounts in the Caribbean. Judge Thelton E. Henderson authorized the IRS to serve a "John Doe" summons on financial services firm Wells Fargo & Co.
Many states say they would find nexus as a result of owning a web server in their jurisdiction, telecommuting employees, and making transactions that involve non-US entities, according to the thirteenth annual "Survey of State Tax Departments" by Bloomberg BNA.
Masood Chotani, a CPA from Los Angeles, was sentenced April 25 to two years in prison, followed by one year of supervised release, the Justice Department and the IRS announced. Chotani was also ordered to pay $60,705 in restitution to the IRS.
UPDATE: In a trade announced this week, Florida scooped up another NFL superstar. The New York Jets traded star cornerback Darrelle Revis to the Tampa Bay Bucs. After the trade, Revis signed a six-year, $96 million contract, with no guaranteed money.
Senator Max Baucus announced that he won't be seeking reelection in 2014. Instead, the Democratic senator from Montana intends to focus on helping to shape tax policy in our nation's capital until calling it quits for good.
The federal government moved one step closer toward imposing state sales tax on online retail sellers when the Senate voted on April 22, 2013, to bring the Marketplace Fairness Act of 2013 to the floor for limited debate.
Eight-time Grammy-winning singer Lauryn Hill was back in court April 22, presumably for sentencing in the tax evasion case against her. With three possible counts of tax fraud against her, she was facing a year in prison for each count.
Since the bombings at the Boston Marathon on April 15, millions of dollars have been donated by people and businesses from across the country to help the families of the three people killed in the attack and those who suffered severe injuries.
Former IRS agent-turned-tax preparer Steven Martinez was sentenced April 15 to almost twenty-four years in prison for defrauding clients of more than $11 million and then plotting their murders to prevent them from testifying about the theft.
The IRS is changing its controversial policy of accessing taxpayer e-mails without first obtaining a warrant, but it’s not making any promises regarding social media postings on sites like Facebook and Twitter.
Tax Freedom Day® arrives today, the 108th day of 2013, according to the Tax Foundation's annual calculation. Americans will work well over three months of the year before they have earned enough money to pay this year's tax obligations.
Now that the tax return season is over – at least for those filers who didn't request extensions – invariably, some of your clients will ask you this question: How long do I need to keep copies of my tax return?
Following up on the success of his popular High Impact Excel session, this time around David H. Ringstrom, CPA turns his attention to pivot tables. In one hour you'll learn how to whip unwieldy data into shape, and then quickly build meaningful reports by dragging and dropping with your mouse. David will also discuss techniques for improving pivot table data integrity. Detailed handouts with numbered steps will be provided for a variety of Excel versions.