Practice management

Senate Democrats, who are united in support of higher income tax rates for millionaires and billionaires, are paralyzed by disagreements on how to tax the estates of the wealthiest Americans.

With an eye toward wins in the November elections, House Republicans introduced legislation Tuesday that aims to streamline the procedures for enacting tax reforms next year.

The Internal Revenue Service closes an unusually high percentage of audits of S corporation tax returns with no recommended adjustments, suggesting that many of the audits are unnecessary and unproductive, according to a new government report.

Missing and incomplete documentation for the Adoption Tax Credit prompted the Internal Revenue Service to delay processing 43,295 claims for the credit and approve more than $11 million in erroneous claims, according to a new report.

The House Judiciary Committee held a hearing Tuesday on legislation to force online retailers to charge sales taxes to customers, even as industry groups banded together to oppose the bill and others like it.

Democrats on the House Ways and Means Committee introduced legislation Tuesday to extend the Earned Income Tax Credit, the Child Tax Credit and the American Opportunity Tax Credit for tuition and related expenses.

House Republicans introduced legislation Tuesday to prevent the Bush tax cuts from expiring.

Cloud accounting software provider Wave Accounting has launched new tools to connect accountants and bookkeepers with Wave's nearly 300,000 small business customers, in an effort to help the accounting community grow their business, as well as that of the company.

An increasing number of business entities, including investment funds like the Carlyle Group, along with private hedge funds, private equity firms and venture capital funds, largely escape Internal Revenue Service audits due to the way they are organized, according to a new report.

I have a confession to make: I love business cards. Let me explain.

New estimates from Congress’s Joint Committee on Taxation indicate that millionaires would benefit a disproportionate amount from extending the tax cuts for income at all levels.

Mike Braun, online marketing manager at BizActions, discusses how to make effective videos to attract business.

A new study estimates that at least $21 trillion and up to $32 trillion of unreported private financial wealth has been hidden by wealthy individuals in secret tax havens at the end of 2010, a sum equivalent to the size of the U.S. and Japanese economies combined.

Senators Jack Reed, D-R.I., and Chuck Grassley, R-Iowa, have introduced bipartisan legislation to strengthen the Securities and Exchange Commission’s ability to crack down on securities law violations.

The people who make a living advising public accounting firms on how to grow and prosper agree on one thing: This is no time for complacency or traditional thinking.

Orlando-based CPA firm Berman Hopkins Wright and LaHam CPAs has partnered with Direct Retirement Solutions to establish Berman Hopkins Retirement Solutions LLC, a retirement planning, consulting and advisory services company for businesses throughout the Southeast.

It’s not just the presence of taxes, it’s the anticipation of the future tax landscape that plays a decisive role in decisions made by small businesses.

Faced with possible dissent in their party, U.S. Senate Democrats are dropping estate tax language backed by President Barack Obama from their proposal to extend most George W. Bush-era tax cuts through 2013.

Democrats on the House Ways and Means Committee have introduced a bill to provide tax credits to businesses that brings jobs and business operations back to the U.S. from abroad.

The Internal Revenue Service is sending out warning letters to paid tax preparers who fail to submit Form 8867 checklists with tax returns that claim the Earned Income Tax Credit.