G8 leaders, who met in Northern Ireland, developed a ten-point plan, the Lough Erne Declaration, which calls for more information sharing between tax authorities and improved transparency to prevent tax avoidance.
Attorney General Eric Holder is scheduled to testify before the House Judiciary Committee, one day after he announced the Justice Department has opened a criminal investigation of the IRS for improperly scrutinizing the tax-exempt status of groups with conservative titles, such as "tea party" or "patriot," in their applications.
President Barack Obama says he will not tolerate political bias at the IRS and promised to get to the bottom of the agency's admitted targeting of conservative groups. The IRS apologized on May 10 for scrutinizing the tax-exempt status of groups with conservative titles, such as "tea party" or "patriot," in their names.
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 Marketplace Fairness Act gives states the authority to enforce sales tax collection requirements on most retailers for online sales purchased by residents of the state, even if the retailers have no physical presence in that state.
IMPORTANT ALERT: Computer security sites across the Internet lit up last week with the news that hackers are actively exploiting vulnerabilities in the ubiquitous Java software that resides on many computers.
The Governmental Accounting Standards Board (GASB) has approved a new standard intended to improve accounting and financial reporting for US state and local governments' combinations and disposals of government operations.
The SEC has approved a new rule directing national securities exchanges to adopt specific listing standards governing the independence of public company compensation committees and compensation advisers.
Employers can claim a Work Opportunity Tax Credit by hiring veterans who start work before January 1, 2013, but they must file Form 8850 within twenty-eight days after the qualified veteran begins work.
On October 10, 2012, the IRS announced that Douglas Shulman, who has led the agency since 2008, is stepping down next month. "It has been an honor to serve the American people during this dynamic time," said Shulman.
The IRS is seeking applications for vacancies on the Advisory Committee on Tax Exempt and Government Entities (ACT). The committee provides a venue for public input on relevant areas of tax administration.
John H. Fisher and Roger A. Norman are the 2012 recipients of the AICPA Outstanding CPA in Government Award. Fisher posthumously received the federal government award, and Norman received the award for state government.
The IRS Criminal Investigation Division needs to ensure that its special agents are taking and passing required firearms training, according to a new report from the Treasury Inspector General for Tax Administration.
In 2011, the EEOC received a record-setting number of charges from those claiming employment discrimination: 99,947 in fiscal year 2011, compared to 99,922 in 2010, and an increase from 82,792 in 2008.