Practice management

A former Internal Revenue Service agent turned tax preparer has been accused of ordering the killings of two witnesses against him who were scheduled to testify against him for preparing bogus tax returns and stealing clients’ tax refunds.

IMGCAP(1)]If you have clients whose company customer concentration as a percentage of sales looks anything like the 80/20 rule—that is, 80 percent of revenue comes from 20 percent of customers—their company’s value could be in the tank.

The Internal Revenue Service’s Criminal Investigation division needs to strengthen its controls over the undercover operations used to detect and probe criminal tax activities, according to a new government report.

The U.S. Internal Revenue Service's new software system for handling electronic tax returns has experienced problems during the tax filing season, angering some taxpayers whose refunds have been delayed.

The Internal Revenue Service’s National Tax Forums are now open for registration.

The Internal Revenue Service is providing an update on the status of the tax refund delays that plagued the agency this season.

The Internal Revenue Service is warning senior citizens, working families, church members and other potential victims to beware of an emerging tax scam that tempts them into filing fraudulent tax returns claiming bogus refunds.

The Internal Revenue Service is facing renewed pressure over its reluctance to grant tax-exempt status to political fundraising and advocacy organizations, particularly Tea Party-affiliated groups.

On April 1, the tax rate for U.S. corporations will go from second highest to the highest tax rate in the world. That’s when Japan will lower its rate by five points from its current 39.5 percent.

A self-employed New Mexico tax preparer has been sentenced to six months in prison and six months of home confinement for failing to file tax returns for four years in a row.

Senator Carl Levin, D-Mich., has proposed closing a tax loophole that would give Facebook an estimated $3 billion tax break on stock options for CEO Mark Zuckerberg.

With all the talk about personal and company branding, a wider problem can get lost in the shuffle - that of the accounting profession's brand. This was a central gripe during the first Innovation & Collaboration Opportunities event hosted by local firm New Vision CPA Group and its CEO Jody Padar in Schaumburg, Ill., which corralled thought leaders, influencers and prolific tweeters for a day of brainstorming the profession's direction.

In this Generational Viewpoints article, we asked members of Casey Peterson & associates ltd. (www.caseypeterson.com), a rapid City, s.d.-based accounting firm with two offices and approximately 50 employees, to share their perspectives regarding social media. Generation X senior-incharge Kayce Gerlach, born in 1979, and Baby Boomer president Casey Peterson, born in 1953, replied to the following question:

First things first: Is your firm ready to be found online?

Central to any functional succession plan is a focus on the clients, and seamlessly transitioning those relationships from one partner to the next.

The release of tax returns of presidential candidates has again brought popular media coverage of the issue of what is reasonable compensation for S corporation shareholders.

For most major accounting firms, the Enron era set profitability back decades when they were forced to abandon their highly lucrative consulting arms in an effort to shed even the vague appearance of a conflict of interest.

Establishing a brand as a CPA firm is something that can take a lifetime.

"We've got to have a Facebook page!" That's the exclamation of most CPA and accounting firms. and then, while many pages go live, they sit almost lifeless, as one of an infinite number of silent trees in a dense forest.