The IRS says it will require registration and certain testing standards for tax preparers after a report showed many of them to be negligent of tax law. Bill Radke talks with Los Angeles Times business columnist David Lazarus.
If a rich person dies Thursday night, almost half of their wealth will go to the Internal Revenue Service. If they hang on till Friday, their heirs will be a lot richer. Maybe. Amy Scott reports.
Not only is this a make-or-break time of year for retailers, local governments depend on the tax revenue they collect from holiday sales, too. Amy Scott reports.
The IRS has extended favorable tax treatment worth billions to struggling banks like Citigroup that benefited from government bailout money. But what does that mean for people who bankrolled the bailout? John Dimsdale reports.