Practice management

The first round of congressional hearings on the Internal Revenue Service’s scrutiny of small-government groups didn’t reveal the people who started that practice or provide clearer answers on why they did it.

A pair of lawmakers have introduced legislation to end a tax break that favors foreign-controlled insurers over U.S. insurers.

Understanding the detailed requirements of the health care reform law, and the potential penalties of noncompliance presents, challenges to accountants who are trying to advise their business clients about the Affordable Care Act.

The largest single variable in housing tax credit pricing is a function of the Community Reinvestment Act’s investment test value of a given property’s location, according to a new report.

Lois Lerner, the mid-level Internal Revenue Service official at the center of a controversy over the agency’s scrutiny of small-government groups, will invoke her constitutional right not to testify before Congress, according to a letter from her lawyer.

A group of CPAs headed to Capitol Hill yesterday in what has become an annual ritual as they pressed lawmakers to deal with the many issues that accountants and their clients are forced to wrestle with on a daily basis, including taxes and regulations.

Douglas Shulman, the former commissioner of the Internal Revenue Service, said he was “dismayed” and “saddened” to learn that IRS employees had singled out small-government groups for tougher scrutiny.

Following the massive tornado in Oklahoma, the IRS has provided tax relief to individuals and businesses affected by this and other severe storms occurring in parts of that state.

The Supreme Court, in a unanimous decision, has held that a one-time U.K. windfall tax paid by the subsidiary of a U.S. corporation is creditable against U.S. income tax.

Updated statistics from the IRS show continued growth in e-filing of returns.

Adaptive Planning has secured $45 million in venture capital funding with the goal of growing its direct and channel sales force in North America, expanding into international markets and enhancing its product offerings.

Audit and risk management product maker ACL had released ACL Analytics version 10 - formerly known as ACL Desktop – with enhancements to allow risk, compliance, audit, IT and financial control professionals to uncover business risk in organizational data and an integration with a forthcoming governance, risk and compliance management product.

A trio of lawmakers in Congress have introduced a bill in the House that would modify the definition of fiduciary under the Employee Retirement Income Security Act of 1974 to make clear that appraisers of employee stock ownership plans are not fiduciaries under ERISA.

Apple Inc. Chief Executive Officer Tim Cook will face off against U.S. senators leveling accusations the iPhone maker has created a web of offshore entities to avoid paying billions of dollars in U.S. taxes.

Industry specialization can help CPAs establish a marketing platform to amplify their firm’s reputation, reach and revenue.

The Internal Revenue Service’s Large Business & International division and its Wage and Investment division have teamed up to create a discovery tool for taxpayers with international filing requirements.

The Internal Revenue Service said it would refund fees collected for registered tax return preparer tests that were canceled due to a court injunction.

Workday vice president Mark Nittler explains why so-called "bolt-on" business intelligence offerings are soon to be replaced by embedded analytics.

Steven Miller, who is being forced out as acting commissioner of the Internal Revenue Service, said the agency has learned from its mistakes while denying that it had targeted nonprofit groups for review because of their political views.

The advocacy group Citizens for Responsibility and Ethics in Washington is continuing to press ahead with a lawsuit against the Internal Revenue Service to force it to reject tax exemptions from political groups, despite a high-profile scandal over improper screening of Tea Party and other conservative groups.