Income Tax

Traditionally, tax planning is targeted to individual taxpayers, but small business owners can also benefit from such tax-saving techniques. Instead of waiting until the very end of the year to pitch ideas to clients, present them with the following ten strategies at midyear.

A fraud scheme that appears to target the federal tax returns of doctors and other health care professionals has affected several hundred people in several states, including at least 35 doctors in Maine.

According to a new report by the watchdog agency that oversees it, an award program for Internal Revenue Service (IRS) employees honored some less than honorable staff.

United States Senators John Hoeven, R-N.D., and Maria Cantwell, D-Wash., have introduced a bill to modify new IRS rules they say make it too difficult for family farmers and small business owners to deduct equipment repair and supply expenses.

A former Potsdam orthodontist was sentenced Monday to more than eight years in federal prison for trying to cheat the Internal Revenue Service out of $36 million.

The tax season may be over now, with most Americans having filed their returns before last week's April 15 deadline, but federal and state income taxes are just one part of the myriad of taxes that people pay.

Registration for the 2014 IRS Nationwide Tax Forums is now open for enrolled agents, certified public accountants, certified financial planners and other tax professionals. Those who sign up by the pre-registration date will save $130 per attendee off the on-site price.

What is at the top of your accounting firm's agenda when the sun rises on April 16? Is it all crash and burn? Do you have a pile of unanswered messages and unread articles to plow through?