IRS Begins Scheduling Tax Preparer Competency Tests

The Internal Revenue Service is moving into the second phase of its tax preparer regulation initiative by beginning next week to schedule the first competency tests for tax preparers.

Obama Pushes for Extension of Payroll Tax Cut

President Barack Obama told an audience in New Hampshire on Tuesday that their taxes would go up an average of $1,000 to $1,500 unless the payroll tax cut were extended and expanded as part of his jobs bill.

Report Questions Basis for Some IRS Fees

The Internal Revenue Service earns about $198 million a year in fees from installment agreements and $40 million in fees from tax return transcripts, but the reason for some of the user fees is vague, according to a new report.

Former Madoff Employee Pleads Guilty to Fraud

A long-time employee at Bernard Madoff’s investment firm has pleaded guilty to fraud charges after he was accused of helping fabricate trading records that enabled Madoff to pull off his massive Ponzi scheme.

Consumers Worried about Finances During Holiday Season

More consumers are reporting this holiday season that their finances have deteriorated over the past year.