Income Tax

Tax reform is back in on the table. On February 26, 2014, U.S. Representative Dave Camp (Rep.-Mich.), the chairman of the House Ways & Means Committee, released a much-anticipated draft of a major tax overhaul. Camp’s proposed reforms, which were three years in the making, reflect bipartisan efforts to simplify the tax code and provide equality to taxpayers.

According to a new report prepared on behalf of the Urban Institute for the Robert Wood Johnson Foundation, the impetus for covering more taxpayers under Obamacare could come from an intriguing source: Tax return preparers.

Think taxes get a lot easier when you retire? Like everything else in life, it depends, especially since the tax aspects of Social Security, 401(k) withdrawals and IRAs can get pretty confusing.

Across the United States, millions of people are gathering their W-2s, 1099s, receipts, business expenses, mortgage and brokerage statements, student loan records and other documents they need to file their taxes.

Fudge a few numbers on a tax return? It's illegal and could set a taxpayer up for some serious fines and penalties but ... 14 percent of Americans say it's not a big deal. Yet at the same time, a vast majority think tax preparer standards of competency are highly important.

Only four states require testing and continuing education for hundreds of thousands of independent tax preparers who make a living deciphering the nearly 74,000-page U.S. tax code for many Americans.

The Internal Revenue Service has released its Criminal Investigation (CI) Annual Report for fiscal year 2013, reflecting significant increases in enforcement actions against tax criminals and a robust rise in convictions, including identity theft.

According to a new federal court of appeals case, the IRS doesn’t have the authority to regulate tax return preparers who routinely file returns on behalf of taxpayers.