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• Senate Extends Homebuyer Tax Credit

  November 4, 2009

  The Senate voted by a 98-0 margin to extend the First-Time Homebuyer Tax Credit while also expanding the credit to existing homeowners who want to move to another residence.

• Lee Zoeller

  November 3, 2009

  The president of the Institute for Professionals in Taxation sees state and local taxes going up, up, up.

• Sneak preview: Tax tools for 2010

  November 2, 2009

  Vendors focus on workflow and the Web, as tax pros wait to see if taxpayers will return

• Putting losses into the right baskets

  November 2, 2009

  During the downturn, many practitioners have found it necessary to brush up on the loss-deduction rules.

• TAX NEWS

  November 2, 2009

  IRS drops ACORN and Minnesota ends tax reciprocity with Wisconsin

• Vertex Launches Certification Program

  October 30, 2009

  Vertex has announced an online certification program through which continuing professional education credits can be earned.

• House Assembles $894 Billion Health Care Bill

  October 30, 2009

  House Democrats unveiled their health care reform package after assembling the various components passed this summer by three separate committees.

• Geithner Urges Extension of Homebuyer Credit

  October 29, 2009

  Treasury Secretary Tim Geithner and Housing and Urban Development Secretary Shaun Donovan have called on Congress to extend the First-Time Homebuyers Tax Credit past its Dec. 1 expiration date, while putting in place strong anti-fraud measures.

• IRS Advisory Committee Issues Recommendations

  October 28, 2009

  The IRS’s Information Reporting Program Advisory Committee has released a report outlining recommendations on a wide range of tax administration issues, including creating new forms and instructions, and reporting of a customer’s basis in securities transactions.

• IRS Steps Up Enforcement on the Rich

  October 28, 2009

  IRS Commissioner Doug Shulman had some news for CPAs gathered to hear him speak at an AICPA conference on Monday: high-income individuals are going to be in the agency’s cross-hairs now.

• Congress Clamps Down on Foreign Tax Evasion

  October 27, 2009

  Democratic leaders of key House and Senate committees have introduced legislation to force foreign financial institutions, trusts and corporations to provide information about their U.S. account holders, grantors and owners.

• Patently Indefensible

  October 23, 2009

  If someone said to me a decade ago that the ideas that tax planners use, some on a daily basis, might be violating a patent, I would have dismissed it as crazy talk.

• KPMG Sees Possibility of Federal VAT

  October 22, 2009

  A new study by KPMG has found more governments worldwide imposing value-added taxes and goods and services taxes to make up for declining revenue from other sources, and warns the U.S. may follow suit.

• Out with the Old, In with the New

  October 22, 2009

  Recent conversations in the nonprofit world increasingly surround 'good governance' within nonprofit organizations.

• More Companies Hit with Tax Audits

  October 21, 2009

  Eighty-three percent of companies have experienced an increased number of audits due to state and local tax revenue shortfalls, according to a new survey.

• CCH Adds SmartCharts for Tax Cross-References

  October 20, 2009

  CCH has introduced IRC/Multistate Personal and Corporate Income Tax Comparison Smart Charts on its CCH IntelliConnect Research Service.

• Carried Interest Reform: Not So Fast

  October 16, 2009

  For those who question the relationship between shortsighted tax policy and the economy, consider the possible consequences of taxing carried interest.

• Senate Finance Committee Passes Health Reform Bill

  October 13, 2009

  The Senate Finance Committee has approved its long-awaited version of the health care reform bill by a 14-9 vote.

• What’s Ahead for LIFO?

  October 9, 2009

  There continue to be rumblings that Congress may repeal the LIFO accounting method for inventory.

• Provision as a Process

  October 2, 2009

  Today, more than three years since it was issued, FIN48 remains the bane of many tax departments’ existence.

• AICPA Objects to ‘Burdensome’ Budget Requirements

  September 25, 2009

  Among the revenue proposals detailed in the administration’s fiscal 2010 budget are some provisions that might negatively affect small businesses and tax preparers.

• New Jersey Has Least Friendly Business Taxes

  September 23, 2009

  New Jersey ranks at the bottom of the list in a new study of the comparative business friendliness of tax systems in the 50 states, while South Dakota is counted as most business friendly.

• IRS to Require 1040 E-filing by Tax Preparers

  September 22, 2009

  The Treasury Department’s Inspector General for Tax Administration has released a report recommending that the IRS seek mandatory electronic filing of individual tax returns by paid preparers, and legislation is being readied to write such a requirement into law.

• Minnesota Ends Tax Reciprocity with Wisconsin

  September 21, 2009

  The State of Minnesota has decided to end its income tax reciprocity program with Wisconsin, effective Jan. 1, 2010.

• The Role of Form 5471 in Tax Planning and Compliance for U.S.-Owned Foreign Corporations

  September 21, 2009

  Published: June 23, 2009
  Published by: Lorman Education Services

• J.K. Lasser's Real Estate Investory Tax Edge

  September 21, 2009

  Published: November 2009
  Published by: Wiley
  Author: Estill
  FREE SHIPPING

• Bilingual Tax Software Released

  September 18, 2009

  New America Software has formally released its MultiTax software for download after about a year of beta testing with various tax preparation businesses.

• CCH Provides Info on Low-Tax Countries

  September 15, 2009

  CCH has introduced a new research product with up-to-date information on 20 jurisdictions that offer low tax rates.

• Thomson Reuters to Buy Deloitte’s Abacus Business

  September 14, 2009

  Thomson Reuters’ Tax & Accounting business plans to acquire Deloitte LLP’s Abacus Enterprise suite of tax software products.

• CCH Intros European Tax Rate Service

  September 8, 2009

  CCH has expanded its lineup of global tax products with Worldwide Tax Rates and Answers: Individuals, an online tax compliance and research service that covers the European Union.

• H&R Block Q1 Net Loss Widens

  September 4, 2009

  H&R Block reported a consolidated net loss for the first quarter of $133.6 million, or 40 cents a share, with much of the loss attributed to tax operations.

• Current Issues in Attributional and Agency Nexus

  September 3, 2009

  Published: August 4, 2009
  Published by: Lorman Education Services

• Maybe We Need Cash for Clunker Tax Returns

  September 2, 2009

  The government is about to start offering a Cash for Clunkers type of program for old inefficient appliances this fall, so why not cash for clunker tax returns and financial statements?

• Environmental Taxes No Panacea, Says ACCA

  August 25, 2009

  The use of carbon taxes and other forms of “green” taxation to improve the environment and raise government revenue requires careful planning, recommends a position paper from the Association of Chartered Certified Accountants.

• Treasury to Award Tax Credits for Clean Energy

  August 13, 2009

  The Treasury and Energy Departments plan to give $2.3 billion in tax credits from the Recovery Act to manufacturers of clean energy equipment.

• State Tax Apportionment Software Introduced

  August 10, 2009

  The Tax & Accounting business of Thomson Reuters has released ONESOURCE State Apportionment software, a product that aims to streamline state income tax apportionment processes for corporate tax professionals.

• CCH Improves Tax Zone Locator

  August 7, 2009

  CCH has enhanced its Tax Zone Locator service to make it easier for tax professionals to track down and obtain location-based tax credits and incentives for clients.

• States Try to Recover Tax Shortfalls

  August 5, 2009

  Tax collection rates around the country have dropped precipitously in recent months, prompting local and state governments to get tougher and tax more.

• Cash Offered in Lieu of Tax Credits for Clean Energy

  July 31, 2009

  The Treasury and Energy Departments plan to distribute at least $3 billion for renewable energy projects to companies that agree to forgo future tax credits.

• Cosmetic Surgery Tax Could Help Pay for Health Reform

  July 29, 2009

  As Congress struggles to produce a health care reform bill that can be sold to voters during and after the August recess, one idea that’s emerging is a tax on elective plastic surgery.

• Levin, McCain Introduce Stock Options Deduction Bill

  July 28, 2009

  Sen. Carl Levin, D-Mich., and John McCain, R-Ariz., have introduced legislation aimed at curbing excessive corporate tax deductions for stock options.

• Forming a Captive Insurance Company

  July 23, 2009

  Part of a CPA’s job is to evaluate the potential tax benefits of various business and estate planning strategies.

• Surtax Unlikely to Have Big Impact on Small Biz

  July 22, 2009

  House Democrats’ proposal for a surtax on upper-income taxpayers to help pay for health insurance reform would not have a noticeable impact on small businesses, according to a new report from the advocacy group Citizens for Tax Justice.

• States Offer Sales Tax Holidays This Summer

  July 21, 2009

  Fifteen states and the District of Columbia will be offering tax holidays for back-to-school shopping on various days this month and next, according to a report by CCH.

• U.S.-Canada Tax Treaty Will Affect Mobility

  July 21, 2009

  Recent changes in the tax treaty between the U.S. and Canada will have an impact in a variety of areas, including 401(k) contributions and stock options, as well as the ability of taxpayers to move across borders.

• Stimulus Tax Breaks Helped Some Small Businesses

  July 16, 2009

  Small-business owners and industry representatives told a House committee that the tax breaks in the stimulus package passed by Congress in February have helped some companies.

• House Democrats Introduce Health Insurance Bill

  July 15, 2009

  House Democrats have introduced health care legislation that would impose a surtax on upper-income taxpayers, and penalties on many small businesses that don’t provide health insurance coverage to employees.

• TV Networks Balk at Ban on Drug Ad Tax Deductions

  July 15, 2009

  The TV networks have been on a letter-writing campaign lately in an effort to dissuade Congress from ending the expensing of ads by pharmaceutical companies.

• Rangel Proposes Surtax on Wealthy for Health Care

  July 13, 2009

  House Ways and Means Committee Chairman Charles Rangel, D-N.Y., has been called to the White House to discuss his proposed surtax on the wealthy to pay for health insurance reform.

• Small Businesses Want R&D Tax Credit Extended

  July 9, 2009

  Entrepreneurs urged lawmakers to extend the research and development tax credit at a House subcommittee hearing Thursday.

• Grassley Introduces Small Business Tax Relief Act

  July 2, 2009

  Sen. Charles Grassley, R-Iowa, has introduced a bill to lower the tax burden on small businesses.

• Tax Amnesties Rake in Money, Sometimes

  July 1, 2009

  New Jersey Governor John Corzine must be breathing a sigh of relief now that his state has recovered over $625 million from a tax amnesty program.

• Former IRS Chief Offers Tax Guidance on Corporate Reorganizations

  June 26, 2009

  A new analysis by a former high-ranking IRS official explains how the Tax Code’s corporate reorganization provisions afford tax-free treatment to certain corporate combinations and realignments.

• Tax Benefits of Oil Investments

  June 25, 2009

  Typical end-of-year tax planning will be on everyone’s minds before you know it.

• U.S., Swiss to Share More Taxpayer Information

  June 19, 2009

  The U.S. and Swiss governments have concluded their negotiations over expanding the sharing of tax information to root out tax dodgers, and now plan to sign a protocol in the next few months.

• Senate Considers Cap-and-Trade Taxes

  June 18, 2009

  The Senate Finance Committee held hearings to learn more about the tax implications of climate change legislation, including whether companies should be taxed for carbon emission allowances.

• Court Ruling Could Ease R&D Tax Credit Claims

  June 12, 2009

  A new appeals court ruling could make it easier for companies to claim research and development tax credits from the IRS by allowing them to rely on oral testimony instead of a project expense-tracking system.

• Senate Proposes Boosting Homebuyer Tax Credit

  June 11, 2009

  Sen. Johnny Isakson, R-Ga., has introduced a bill that would increase the maximum amount of the first-time homebuyer tax credit from $8,000 to $15,000.

• Minorities Fared Worse with New Markets Tax Credits

  June 1, 2009

  Minority-owned businesses were less successful in obtaining awards from the Treasury Department’s New Markets Tax Credits program than non-minority entities in recent years, according to a new government report.

• Financial Execs Oppose Changing Tax Deferral Laws

  May 22, 2009

  An influential group of financial executives is urging Congress to oppose the Obama administration’s proposals for reforming the corporate tax system, especially the rules used by multinational companies to defer paying taxes on foreign earnings.

• Congress Tries Again to Ban Tax Strategy Patents

  May 22, 2009

  The House has introduced a bill to ban patents on tax-planning methods and strategies after previous versions of the legislation died in the last congressional session.

• Aiding S Corps

  May 20, 2009

  As money is drawn out and more losses are likely, tax planning for S corporations becomes crucial.

• Senate Explores Ways to Fund Health Care Reform

  May 19, 2009

  The Senate Finance Committee released a set of policy options for financing health care reform, including modifying the current tax treatment of health-related expenses.

• Tax Strategy: Making the Making Work Pay Credit work

  May 18, 2009

• Proposed carried interest measure may cast wider net

  May 18, 2009

• Editor's Desk: Fee parties

  May 18, 2009

  Although I reside in one of the most overtaxed and inarguably free-spending states in the union, I did not attend any of the many 'Tea Parties' held last month, fittingly, on April 15.

• IRS Tries to Fix Withholding Problems

  May 14, 2009

  The IRS is providing a new withholding adjustment option for pension plans as a way to get around some of the glitches that have developed with the new Making Work Pay tax credit.

• Senate Mulls Health Insurance Taxes

  May 13, 2009

  The Senate Finance Committee held hearings to determine how to pay for health insurance reform, including through new taxes and tax credits.

• Jonathan Medows

  May 12, 2009

  New York City CPA Jonathan Medows specializes in helping small business owners and freelancers cope with the economic crisis.

• Massachusetts Tax Auditors Foiled in IDG Ruling

  May 8, 2009

  A recent decision by the Massachusetts Appellate Tax Board related to inter-company pricing may put state tax auditors on notice not to overreach when assessing the value of services and products provided between companies and their out-of-state affiliates.

• Experts divided on Obama tax policies

  May 4, 2009

  Congressional leaders wrestling with President Obama's plan to make the Bush administration's tax cuts permanent for middle-class families earning under $250,000 a year are hearing a sharply divided response from top economic experts.

• Congress Approves $3.4 Trillion Budget Outline

  April 29, 2009

  Both the House and Senate approved President Barack Obama’s $3.4 trillion spending plan on his 100th day in office, but largely along party lines.

• Yet Another Obama Hundred-Day Piece

  April 29, 2009

  It seems almost obligatory to write a story about the 100th day of the Obama administration, but when you’re in the news business, you ignore these kinds of artificial milestones at your peril.

• CFOs Plan to Use Bonus Depreciation

  April 28, 2009

  A large majority of CFOs and senior controllers intend to take advantage of the bonus depreciation provision included in the economic stimulus bill, according to a survey by Grant Thornton.

• TIGTA: IRS Needs to Crack Down on Non-Filing Charities

  April 20, 2009

  The Treasury Department's Inspector General for Tax Administration is urging the IRS to ensure better compliance by tax-exempt organizations that don't file their tax returns.

• Economy, legislation threaten to impact S corps

  April 19, 2009

• IRS issues guidance for Ponzi victims

  April 19, 2009

  In the wake of several high-profile Ponzi schemes - most notably, the $65 billion fraud perpetrated by the now-jailed Bernard Madoff - the Internal Revenue Service has issued new guidance for victims of these types of schemes and their tax preparers.

• In brief

  April 19, 2009

• Tax strategy: Ponzi scheme guidance: More details

  April 19, 2009

  The Bernard Madoff situation is just the most notorious of dozens of Ponzi schemes that have surfaced since the current recession made it more difficult for the operators of those schemes to keep covering payouts and redemptions with money from new investors.

• Shooting for the stars

  April 19, 2009

  The Internal Revenue Service now has a new interest in sports and entertainment - and not just as a spectator.

• IRS Makes Some Card Fees Deductible

  April 9, 2009

  The Internal Revenue Service said that it would make some credit and debit card convenience fees tax-deductible, but only under certain circumstances.

• States Hike Sales Tax Rates to New Records

  April 9, 2009

  The economic crisis is forcing many states and cities to increase their sales tax rates to the highest average level ever, according to a new report.

• IRS Offers New Free Way to File for Extensions

  April 8, 2009

  This year, the Internal Revenue Service is offering a new way to file an extension request for free.

• Grassley Praises IRS for Hiring Veterans

  April 8, 2009

  Sen. Charles Grassley, R-Iowa, has commended the Internal Revenue Service for hiring more than 1,000 veterans last year.

• Buddy Systems Created By Youth

  April 7, 2009

  Like many good ideas, Weiser's Buddy System started over drinks.

• IRS Takes Slow Train to Security Fixes

  April 7, 2009

  The Internal Revenue Service has made slow progress in implementing federally required security settings on nearly 100,000 desktop and laptop computers, said a newly released audit.

• BDO Partner Charged with Tax Crimes

  April 7, 2009

  A federal grand jury has returned an indictment charging a BDO Seidman partner with tax charges for attempting to help one of his clients evade income taxes.

• CPAs and Tax Preparers Charged in Methane Scam

  April 7, 2009

  The Justice Department has filed suit against four CPAs, 27 tax preparers and another individual, accusing them of promoting a tax scam that claimed bogus income tax credits for sham sales of methane from landfills.

• Estate Tax Planning for 2009 and Beyond

  April 7, 2009

  With the repeal of the federal estate tax set for 2010 and its reinstatement scheduled just one year later, estate tax planning has become more complicated than ever.

• U.S. and Swiss to Share More Tax Information

  April 7, 2009

  The U.S. Treasury Department said that it plans to begin negotiating a protocol with the government of Switzerland to exchange more tax information, opening a window on formerly secret Swiss bank accounts.

• Practitioner Suspended for Bilking Taxpayers

  April 7, 2009

  The Internal Revenue Service has suspended an enrolled agent from practicing before the agency after his clients complained that he did little to help them settle their tax disputes.

• Buddy Systems Created By Youth

  March 31, 2009

  Like many good ideas, Weiser's Buddy System started over drinks.

• Off to a running start

  April 5, 2009

  An early-season surge in tax filing - attributed by most observers to the declining economy - has thus far characterized this year's filing season.

• IRS nixes private collection

  April 5, 2009

• Lawmakers petition IRS for greater leniency

  April 5, 2009

  Washington, D.C.-With millions of Americans needing help to survive the recession, job losses and home foreclosure, Congress is urging the Internal Revenue Service to cut some slack for taxpayers who are "struggling to stay afloat while their debts increase."

• Madoff investors: Tax victims, too?

  April 5, 2009

  Many are surprised to learn that while it sometimes appears that the Internal Revenue Code reaches into every aspect of our lives, it lacks focus in addressing the complex tax consequences that face the unfortunate victims of Ponzi schemes.

• In brief

  April 5, 2009

• Tax strategy: Maximizing small-biz incentives in the Recovery Act

  April 5, 2009

  he $787 billion American Recovery and Reinvestment Act of 2009 (P.L. 111-5, Feb. 17, 2009) provides almost $300 billion in tax relief. As a stimulus package, the bill makes available over $280 billion in tax relief in the short term in 2009 and 2010.

• IRS Copes with Challenging Tax Season

  April 6, 2009

  Despite all the tax changes in the past year to stimulate the economy, the Internal Revenue Service appears to be weathering the tax season well so far.

• Video: Joe the Plumber Takes on the IRS

  April 6, 2009

  Joe the Plumber has made his next mission the abolition of the Internal Revenue Service.

• Companies Foresee More Tax Audits

  April 6, 2009

  As governments desperately seek all kinds of additional revenue, senior business professionals see the increased possibility of an audit by taxing authorities as the most significant tax risk facing their organizations today, according to a new survey.

• IRS to Assess Risks of Tax Software

  April 3, 2009

  The Internal Revenue Service should determine whether using tax software creates any security and compliance risks, recommended the Government Accountability Office in a new report.

• Former KPMG Execs Sentenced in Tax Case

  April 3, 2009

  Two former KPMG managers received prison terms and multimillion-dollar fines in a long-running tax shelter case.

• IRS Grants Relief to Flood Victims

  April 3, 2009

  Victims of severe flooding in Minnesota and North Dakota have an extra 30 days, until May 15, to file their 2008 individual tax returns and pay any taxes due.

• Congress Passes Budget Plan

  April 3, 2009

  Both the House and Senate approved the Democrats' version of a $3.5 trillion budget plan for fiscal year 2010, but without a single Republican vote.

• Practical Accountant Ranks Top Regional Accounting Firms

  April 3, 2009

  Practical Accountant magazine has released its 16th annual survey of the top regional accounting firms across the U.S.

• Accountant Arrested for UBS Tax Shelters

  April 3, 2009

  The first U.S. client of Swiss bank UBS has been arrested on tax evasion charges by federal authorities, and he's an accountant.

• Congress to IRS: Go Easy on Small Biz

  April 2, 2009

  Lawmakers at a congressional hearing Wednesday pressed Internal Revenue Service Commissioner Douglas Shulman to ease up on audits of small businesses.

• CCH Revamps Tax Research Service

  April 2, 2009

  CCH has introduced IntelliConnect, the next generation of its widely used online information service, Tax Research NetWork.

• U.S. Signs Tax Deal with Gibraltar

  April 2, 2009

  Just in time for the G20 economic summit in London, the U.S. Treasury Department has signed a tax information exchange agreement with the government of Gibraltar.

• Tax Tips for Individuals and Businesses

  April 2, 2009

  As the tax deadline looms in two weeks, the Association of Chartered Certified Accountants has some advice for businesses and individual taxpayers.

• Beware the Taxman (or Student)

  April 2, 2009

  Tax evaders beware. Pittsburg State University students are coming to get you.

• Tax & Financial Planning News

  March 31, 2009

• Tax Research Comes in Many Flavors

  March 31, 2009

  Accountants gain an appetite for Google-like search.

• Tax Season Essentials

  March 31, 2009

• Tax Briefs

  March 31, 2009

• New Budget, New Tax Scene

  March 31, 2009

• Tech Bulletin Briefs

  March 31, 2009

• Recovery Act Moves

  March 31, 2009

• IRS Announces Tax Break on New Car Purchases

  April 1, 2009

  The Internal Revenue Service has begun spreading the word about a special incentive for taxpayers to buy a new car this year: a hefty deduction next year.

• HHS Nominee Pays $7,040 in Back Taxes

  April 1, 2009

  Secretary of Health and Human Services nominee Kathleen Sebelius became the latest prospective Cabinet member to run afoul of the Tax Code after she admitted to recently paying $7,040 in back taxes and $878 in interest.

• Treasury Launches Financial Stability Site

  April 1, 2009

  The Treasury Department has opened its ballyhooed Web site that will allow ordinary citizens to keep an eye on efforts to stabilize the financial system.

• Thomson Reuters Updates Tax Planning App to Include Stimulus

  March 31, 2009

  In order to include provisions in the recently enacted American Recovery and Reinvestment Act of 2009, the Tax & Accounting business of Thomson Reuters has updated its Planner CS program.

• Bonus Tax Bills May Be Unconstitutional

  March 31, 2009

  The Congressional Research Service has found that both the Senate and House bills that seek to tax bonuses paid to employees of entities receiving assistance from the federal government under the Economic Stabilization Act of 2008 may have constitutional problems.

• Obama Nominates Tax Policy Head

  March 31, 2009

  President Barack Obama has nominated a California professor, Helen Elizabeth Garrett, as his Assistant Treasury Secretary for Tax Policy.

• IRS Employee Stole Taxpayer Identities

  March 31, 2009

  An Internal Revenue Service employee has been charged with illegally accessing IRS computers to obtain information on taxpayers and filing false tax returns in their names.

• Baucus Introduces Middle-Income Relief Legislation

  March 30, 2009

  Senate Finance Committee Chairman Max Baucus, D-Mont., has announced legislation that would make existing tax breaks permanent for working families and individuals.

• IRS to Offer Leniency to Offshore Evaders

  March 30, 2009

  As part of its plan to generate intelligence on accountants, bankers and lawyers who help clients evade U.S. taxes by hiding money in offshore accounts, the Internal Revenue Service will grant leniency to those who volunteer to pay taxes on overseas accounts in exchange for information on who aided them in hiding the money.

• Prosecutors Ask for the Max for Tax Shelter Execs

  March 27, 2009

  Prosecutors maintain that two former executives of Big Four firm KPMG should be sentenced as much as 24 years in prison for their part in marketing illegal tax shelters.

• Volcker to Lead Tax Reform Effort

  March 26, 2009

  The Obama administration will ask the Economic Recovery Advisory Board, led by former Federal Reserve Chairman Paul Volcker, to form a task force to recommend an overhaul of the tax code, according to reports.

• IRS Recruiting for TAP Panel Members

  March 25, 2009

  The Internal Revenue Service is looking for civic-minded volunteers to serve on the Taxpayer Advocacy Panel, which listens to taxpayers, identifies key issues and makes recommendations for improving IRS service.

• IRS Employees Abuse Phone Cards

  March 24, 2009

  Employees at the Internal Revenue Service are running up millions of dollars in charges on agency-issued telephone calling cards with little control over their spending.

• CCH Adds More Audit Guidance to ARM

  March 24, 2009

  CCH has expanded the audit modules in its Accounting Research Manager database with expert guidance on topics such as construction and not-for-profit accounting.

• New York CPAs Name Hall of Fame Members

  March 24, 2009

  The New York State Society of CPAs has named William Donaldson and Sidney Kess to its Hall of Fame.

• IRS Audit Rates for Millionaires Plummet

  March 23, 2009

  Audits by the Internal Revenue Service of the tax returns of millionaires nosedived in the just-ended fiscal year, according to a new report.

• Judge Dismisses Suit Against Tax Software Vendors

  March 20, 2009

  A federal judge has for the second time rejected a class action lawsuit against the Free File Alliance, the group of tax software vendors who provide free software and electronic filing to low-income taxpayers.

• Tax Season Essentials: IRS Intros Employment Tax Adjustment Forms

  March 20, 2009

  The Internal Revenue Service has added three new forms for correcting errors on employment tax returns.

• PayCycle Adds Stimulus Payroll Tax Deductions

  March 19, 2009

  PayCyle said that it has implemented the payroll tax reduction included in the recently passed economic stimulus bill.

• IRS to Offer Free Tax Prep on Saturday

  March 19, 2009

  The Internal Revenue Service and a group of community partners plan to open their doors on Sat., March 21, to help people who need free tax preparation services, a question answered or a payment schedule arranged.

• House Votes to Tax AIG Bonuses

  March 19, 2009

  In response to public outrage over the $165 million in bonuses awarded to AIG executives, the House voted 328 to 93 to levy a 90 percent tax on the money.

• IRS Will Accelerate NOL Refunds Under New Provision

  March 18, 2009

  The Internal Revenue Service says that small businesses with deductions exceeding their income in 2008 can use a new net operating loss tax provision to get a refund of taxes paid in prior years. The IRS says it will work to issue refunds within 45 days or less "to the degree possible."

• Taxing Health Care Benefits Won't Be Easy

  March 18, 2009

  The question of how to pay for universal health care could lead to a troubling answer: taxing health benefits.

• Tax Talk Today to Go Silent (For Now)

  March 18, 2009

  The Internal Revenue Service plans to discontinue live programming of its Tax Talk Today webcasts on May 12, leaving accountants worried about their continuing professional education credits.

• Former BDO Partner Pleads Guilty in Tax Shelter Scam

  March 18, 2009

  A chartered accountant from the U.K. who served as a former board member and vice chairman at global audit firm BDO Seidman has pleaded guilty to conspiracy with tax shelter promoters while claiming roughly $1 billion in fraudulent losses.

• Testing your tax-time temps

  March 15, 2009

  Despite the current economic slowdown, the busy season is well underway as firms across the country are preparing the onslaught of returns that roll in during the weeks and months prior to April 15. The increased workloads during this period create the need for more workers to assist with the rush, and temporary employees are an effective resource during these times.

• Tax strategy: Finding the silver lining to capital losses

  March 15, 2009

  2008 was a tough year for investors and 2009 so far is shaping up to be more of the same. Nevertheless, investors should not lose sight of the value of capital losses for tax purposes.

• Man Indicted for Posing as Enrolled Agent

  March 16, 2009

  A federal grand jury has indicted a California tax preparer for claiming he was an enrolled agent with the Internal Revenue Service.

• HBK Acquires Stikelether

  March 16, 2009

  CPA firm Hill, Barth & King has acquired Stikelether & Associates of Fort Pierce, Fla., expanding the firm's presence on the state's "Treasure Coast."

• Treasury Tries to Jumpstart Small-Business Lending

  March 16, 2009

  President Barack Obama and Treasury Secretary Timothy Geithner unveiled a new effort aimed at unlocking the tight credit market for small businesses.

• Swiss to Relax Bank Secrecy Laws

  March 16, 2009

  Switzerland's longstanding banking secrecy laws are about to become as holey as Swiss cheese after authorities caved in to pressure from international tax authorities.

Related Articles

• Senate Extends Homebuyer Tax Credit

• Lee Zoeller

• Sneak preview: Tax tools for 2010

• Putting losses into the right baskets

• TAX NEWS

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