Practice management

The Senate has passed a two-month extension of the payroll tax cut and unemployment benefits, but House Republican leaders and some Democrats balked at the short-term extension.

The Internal Revenue Service has published a Candidate Information Bulletin to help those preparing to take the Registered Tax Return Preparer Test know what to expect on test day.

The Internal Revenue Service has given tax-exempt organizations with January and February filing due dates a temporary reprieve until March 30, 2012 to file their annual returns.

Congressional leaders in both parties signaled they were working on a deal to extend the payroll tax cut and unemployment benefits for at least two months, while also agreeing on a spending bill that would avert a government shutdown.

Just when you think you know all you need to know about FBAR (Foreign Bank Account Reporting), a product of the Bank Secrecy Act of 1970, the impending FATCA (Foreign Account Tax Compliance Act) requirements loom.

The Internal Revenue Service reminded tax preparers to renew their Preparer Tax Identification Numbers before they expire at the end of the year.

IMGCAP(1)]As the SEC’s limited liability provisions on Extensible Business Reporting Language data begin to expire, public companies find themselves looking for answers about how current and future legislation will affect their filings.

A new survey finds that 77 percent of business owners say they started their companies to provide for their families, yet less than half of them feel confident with their current financial situation.

The International Federation of Accountants’ Small and Medium Practices Committee has released a new edition of its Guide to Practice Management for Small- and Medium-Sized Practices, with guidance on new topics, including cloud computing.

The Internal Revenue Service plans to release a new information reporting form that taxpayers will need to use next tax season to report on certain types of foreign financial assets for tax year 2011.

New information released Wednesday on the holdings of U.S.-based multinational corporations is adding fresh ammunition to the dispute over whether companies should be given a tax holiday on repatriated foreign profits.

The tax plan advanced by Republican presidential candidate Newt Gingrich would have the effect of adding over $1 trillion to the federal deficit in a single year and give the overwhelming share of tax benefits to those at the upper end of the income scale.

House Republicans have passed an extension of the payroll tax cut for another year, but Senate Democrats have vowed to defeat the bill when it comes up for a vote Wednesday.

A new study has cast doubt on claims from legislators and lobbyists that a tax holiday for multinational corporations on their repatriated foreign earnings would spark an economic revival in the U.S.

IMGCAP(1)]Building and running a technology practice inside a CPA firm requires an understanding of the differences in priorities, skill sets, cultures, personalities, and goals of the traditional CPA practice and the professional services technology firm.

A bipartisan group of lawmakers are seeking to make sure an extension of the deduction for state and local sales tax payments is included in the tax extenders package that is expected to come before Congress early next year.

The Internal Revenue Service has provided information to clarify the tax responsibilities of U.S. citizens and dual citizens living abroad in response to concerns from Canadians and expatriates from other countries about penalties that might be levied on their unpaid taxes and undeclared bank accounts.

KPMG International said Monday that its member firms around the world achieved a total of $22.7 billion for the fiscal year ending Sept. 30, 2011.

McGladrey Technology Solutions, the technology services arm of the major CPA firm, has partnered with the American Institute of CPAs’ marketing arm, CPA2Biz, to identify and build integrated, add-on applications for CPA2Biz’s Web-based outsourced finance and accounting services technology.

The Internal Revenue Service released on Friday the optional standard mileage rates that business taxpayers can use in 2012 to figure the deductible costs of operating a vehicle for business, charitable, medical or moving purposes, and for the most part they have not changed a great deal.