Practice management

The digital edition of the December 2013 issue of Accounting Today is now available.

More than 122 million returns were e-filed during this year in what the IRS calls a “milestone” for e-filing.

The Internal Revenue Service has taken steps to improve its management controls for technology that will help it implement the Foreign Account Tax Compliance Act, or FATCA, to improve U.S. tax compliance involving foreign financial assets and offshore accounts, according to a new report, but more work needs to be done.

The increasing globalization of the economy is resulting in more small and medium-size businesses seeking to expand internationally. While companies are extending their products and services across borders, many don’t consider the compliance and planning issues that come with doing so.

The IRS needs to improve its procedures to enable taxpayers to access their tax account information and identities online in a secure way, according to a new report.

The reasons to begin conversations with both current and potential clients with an emphasis on report writers are more compelling than ever, particularly as this technology has become more available and easier for small businesses to use and deploy.

Ed Mendlowitz, a partner at WithumSmith+Brown, discusses how small CPA firms can benefit from conferences like Accounting Today's recent Growth & Profitability Summit in Orlando, in an interview with managing editor Tamika Cody.

The Supreme Court held that the 40 percent gross valuation misstatement penalty applies to overstated basis where partnerships were shams, so no partner could legitimately claim a basis in the partnership interest greater than zero.

Top 100 CPA firm Grassi & Co. has officially launched Grassi Technology Consultants, a new subsidiary that moves the firm further towards technology consulting and potentially larger clients, but away from reselling.

The Senate Finance Committee has scheduled a hearing next Tuesday to consider the nomination of John Koskinen as the next Internal Revenue Service commissioner as the agency seeks to emerge from a series of recent scandals that have prompted the departures of a number of high-ranking officials.

Big data and bad data are proving to be a big challenge for tax departments at major corporations, according to a new survey that found them spending a disproportionate amount of time consolidating and gathering information, reconciling it, and detecting and correcting errors.

On top of the other problems associated with the troubled rollout of the federal government’s online health insurance exchange, the Internal Revenue Service is now being urged to strengthen the security and anti-fraud protections for the tax credits it will be providing to help taxpayers afford the cost of the insurance premiums.

Is reality what something actually is or what people perceive it to be? Jack Welch of GE fame once said that reality is “seeing the world as it is rather than as you wish it were.”

The U.S. Supreme Court stayed out of the multibillion-dollar fight over Internet sales taxes, leaving intact a New York law that forces Amazon.com Inc. to collect money from customers in that state.

The Internal Revenue Service has released the final regulations for the 0.9 percent Additional Medicare Tax that was imposed as part of the Affordable Care Act.

Software partner veteran Terry Petrzelka, now a valued advisor and consultant to vendors and resellers discusses some of the trickier issues related to vendor/partner relationships, particularly when it comes to ending them as well as how to deal with discontinued product development.

The Internal Revenue Service has made progress in its ability to correctly assess penalties on U.S. taxpayers who are late in filing information returns on their involvement in foreign corporations, but it often abated the penalties when it didn’t need to, according to a new government report.

The U.S. Treasury Department has signed intergovernmental agreements with the Cayman Islands and Costa Rica in an effort to combat offshore tax evasion as part of the implementation of the Foreign Account Tax Compliance Act.

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