Practice management

The U.S. Treasury Department and the Internal Revenue Service said Wednesday that the governments of the U.S. and Denmark have reached a bilateral agreement to implement the Foreign Account Tax Compliance Act to improve international tax compliance.

A Bronx tax preparer has been charged with 46 counts for filing tax returns with the Internal Revenue Service and New York State that contained more than $7 million in fraudulent tax deductions and credits, resulting in over $2.5 million in fraudulent tax refunds.

A New Jersey woman who owned a tax preparation business was sentenced to 18 months in prison for filing false tax returns on behalf of her clients and herself, resulting in a tax loss of nearly $200,000.

Grant Thornton is offer some year-end tax planning tips for both individuals and businesses, and their accountants, facing the expiration of the Bush tax cuts.

BDO USA CEO Wayne Berson talks with Accounting Today editor-in-chief Daniel Hood about the firm's two recent mergers with Argy, Wiltse & Robinson and Asher & Co., and the firm's future plans for expansion.

The Internal Revenue Service has raised the standard mileage rates by 1 cent per mile for next year when calculating the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

InOrder ERP software developer Morse Data Corp. has published a new white paper designed to give readers an in-depth overview of how to successfully manage a months- or year-long ERP software implementation.

The IRS has released preliminary information regarding further changes to the repair regulations.

South Carolina Governor Nikki Haley released a report from a security company on a data breach at the South Carolina Department of Revenue that exposed the tax information of millions of taxpayers in the state to foreign computer hackers, while asking the IRS to take further steps to encrypt taxpayer information.

The IRS has extended until December 7 the diesel fuel penalty waiver for New Jersey and parts of New York.

Preparers unsure of how to adjust their fees before next season can find a number of guides around the Internet, from current discussions by other preparers to fee guides from associations and recent reports on fees by the big chains.

The American Institute of CPAs has developed a new online practice aid that provides customizable sample letters and expert commentary to guide accounting professionals as they lay out terms and objectives for clients.

The Internal Revenue Service Oversight Board has sent a letter to the leaders of Congress’s two tax-writing committees urging them to act swiftly to patch the Alternative Minimum Tax to keep it from spreading to millions more taxpayers.

The BDO network of accounting firms said Tuesday that annual revenue grew 6.11 percent worldwide for its member firms compared to last year.

Individual income tax return statistics by selected descending and ascending cumulative percentiles for Tax Years 2001 to 2010 are now available from the IRS.

CCH has introduced new mobile apps providing access to several of its journals and newsletters from the Apple iPad, along with a new app aimed at tax students.

Rothstein Kass has released its updated financial statement manual for alternative investment funds such as hedge funds and hybrid funds.

Nearly 80 percent of business executives said they would be willing to accept the repeal of certain tax incentives in exchange for a lower overall corporate tax rate, according to a new report by KPMG.

CPA and tax preparer Jeffrey B. Travis has pleaded guilty to bank fraud involving a scheme to defraud US Bankcorp and five of his clients of more than $1.8 million.