NEWSWIRE

Congress Considers Tax Reform of Financial Products

The Senate and the ’s tax-writing committees held a rare joint hearing on reforming the tax treatment of financial products such as derivatives.House

IRS Sets Rules for Tax Education and Accreditation Groups

The Internal Revenue Service outlined the standards Tuesday for becoming an IRS-approved continuing education provider and accrediting organization.

CPA Execs Predict Economy Will Improve Next Year

Senior-level CPA executives are planning to increase their spending next year, but lingering pessimism about the pace of the recovery means they remain reluctant to expand hiring.

IRS Needs to Do Better Audits of Small Corporations

The Internal Revenue Service has been doing a better job of auditing small corporations in recent years, according to a new government report, but potential quality concerns remain.

Christie Brinkley Plans to Pay off IRS Tax Lien

The Internal Revenue Service has filed a $531,720 tax lien against supermodel Christie Brinkley.

Reid Offers Compromise on Payroll Tax Cut

Senate Majority Leader Harry Reid, D-Nev., offered Monday to compromise on how to pay for the payroll tax cut extension in an effort to convince more Republican lawmakers to vote for the bill.

IRS to Ease Tax Penalties for Americans in Canada

The Internal Revenue Service has reportedly backed away from plans to heavily penalize U.S. citizens and dual citizens living in Canada who may have not paid all of their taxes.

New York State Tax Department Introduces Prepaid Card Option For Personal Income Tax Returns

The New York State Department of Taxation and Finance today announced a new option taxpayers can choose to receive their State income tax refunds. Beginning next year, a prepaid card will be available as an alternative to paper checks.