Roger Russell

In the past few months there has been a significant increase in the frequency of wire transfer scam attacks against accounting firms, according to Rickard Jorgensen, president of Jorgensen & Company, with more than a dozen CPA firms successfully targeted.

With the advent of the holiday season, now may be just the time to market yourself and your staff to potential clients, according to Chuck McCabe, president and chief executive of Peoples Income Tax and The Income Tax School.

While the traditional end-of-year tax tip checklist contains such tried and true suggestions as defer income and accelerate deductions, there are a number of other steps Tom Wheelwright takes in advising his small business clients.

If the lame duck session of Congress fails to address the tax extenders, it will fall to incoming House Ways and Means Committee chairman Paul Ryan, R-Wis., to see that they get passed early in the next session of Congress.

For the tax preparation office that relies on seasonal hires, this is the make or break time of year.

One of the efforts states are making to increase their revenue stream is to tighten up their enforcement of worker misclassification.

2014 Buyer's Guide to Malpractice Insurance.

Last tax season evidenced a disturbing development for professional tax preparers, but industry observers are hoping that other factors will mitigate the trend toward do-it-yourself preparation next year.

The Internal Revenue Service has decided not to appeal a district court case which ruled that the agency doesn’t have the authority to regulate return preparers’ contingent fee arrangements for refund claims.

The Tax Court recently upheld a ruling that patent holders must give up control of a transferred patent to treat royalty income from it as capital gains.

The Affordable Care Act and how it will affect the upcoming tax season seems to be clearer, according to Chuck McCabe.

The IRS could improve the way it picks problematic paid preparers for further enforcement actions, according to a recent report.

Jersey Shore’s Michael “The Situation” Sorrentino and his brother Marc are due in court to face an indictment alleging they failed to pay taxes on $8.9 million in income that Michael received from promotional activities, according to U.S. Attorney Paul J. Fishman.

The Fifth Circuit rejected both the Internal Revenue Service and the Tax Court’s valuation of art contained in an estate, finding an estate’s valuation to be supported by the evidence.

CPAs typically collect and store information about their clients which may open them up to liability if any of the information is compromised, according to Rickard Jorgensen, president of Jorgensen & Company.

Six years ago this week, investment bank Lehman Brothers filed for bankruptcy, observed Attorney General Eric Holder at New York University Law School during a speech Wednesday. This marked “the culmination of a period of deregulation, excessive risk-taking, questionable lending practices, and defective underwriting that heralded the worst financial crisis since the Great Depression,” he said.

Sometimes a grandfather knows best, even when the disagreement involves the Internal Revenue Service.

The Eighth Circuit Court of Appeals has affirmed a Tax Court decision disallowing deductions related to a farmhouse.

As we approach the November elections, the end of the year and the beginning of a new tax season, we’re not much clearer on the fate of the provisions that expired at the end of 2013, aka the extenders, that haven’t yet been renewed.

The profession speaks out in favor of cash accounting