IRS’s new W-2 verification process faced challenges

The Internal Revenue Service’s new procedure for authenticating withholding information did not go completely smoothly this past tax season, although it did hold promise for combating identity theft and tax fraud.

Trump tax plan: Much work still to be done

Taking a cue from the failed Repeal and Replace healthcare process, the Trump administration Wednesday released a broad outline of its tax reform plan, with many details to be spelled out in legislative form during negotiations with Congress.

Millennials are more likely to fall for an IRS scam

“You must pay your taxes immediately, or else,” an ominous voice on the other line says before demanding a credit-card number. Most Americans roll their eyes and hang up on these scam calls, but thousands have fallen victim, and millennials are more susceptible than older generations, a new study finds.

Oracle CEO pledges expansion at NetSuite user conference

At SuiteWorld 2017, Mark Hurd promises NetSuite will have full independence post-merger as the companies expand quickly overseas.

RSM Foundation donates $100K in scholarships for 2017-18

The Top 5 Firm honored 10 students as part of their inaugural “Power Your Education” program.

West Ham, Newcastle at center of U.K. soccer tax-fraud probe

Two U.K. soccer teams found themselves in the middle of the sport’s latest scandal after authorities conducted sweeping raids and made arrests over suspected tax fraud.

Mnuchin says Congress agrees tax plan needed to spur economy

Treasury Secretary Steven Mnuchin confirmed the administration will propose a corporate tax rate reduction to 15 percent and said lawmakers broadly agree on the need for a tax overhaul, citing a “very successful meeting” on Tuesday evening in Washington.

AICPA sees dip in Americans’ financial satisfaction

Interest rate increases and inflation fears are causing a slight decline in the American Institute of CPAs’ Personal Financial Satisfaction Index in the first quarter of the year, despite positive news in the stock market and promises of tax reform.

Trump's 15% corporate tax seen as 'gambit' as he unveils plan

President Donald Trump’s expected call to slash the corporate tax rate to 15 percent—a number that many economists say would boost the deficit so much that the cut would be short-lived—may be less about policy and more about deal-making.

IRS reports last-minute surge in tax filings

The Internal Revenue Service said Tuesday it received 135.6 million returns this tax season after a late burst of tax filings in the final week.