Practice management

Three Democratic senators have introduced a bill that would end tax subsidies for the five largest oil companies.

The Federal Deposit Insurance Corp. has proposed a $2 million fine against Republic Bank & Trust Co. after the bank tried to coach tax preparers using its refund anticipation loan products on how to respond in case the FDIC visited them.

An interactive, Web-based tool is helping Internal Revenue Service employees to provide customer-specific tax law responses efficiently and accurately, according to a new government report.

PricewaterhouseCoopers has joined the Cloud Security Alliance as a corporate member.

A majority of multinational company tax executives predict that a broadened international regulatory focus on increased transparency will be the most significant change their company can expect in international taxation over the next year, according to a survey by KPMG LLP.

The American Institute of CPAs has written to the Internal Revenue Service asking the IRS to let small businesses electronically file the form used to elect S Corporation status.

IMGCAP(1)]I meet with a lot of accountants, and I'm starting to hear a consistent concern. Who is going to lead our firm once we retire? And why is this younger generation not rising to the opportunity to grow with our firm?

Deloitte said Monday it has purchased substantially all of the assets of Oco Inc., a developer of Software as a Service business analytics systems.

The Internal Revenue Service is investigating financial improprieties at the tax-exempt Kabbalah Centre.

CCH has partnered with Comtax to offer the Comtex System international taxation software in the U.S.

Accounting Today and iLumen have introduced WebCPA Client Connection, an online analytical system that connects public accountants with their small and midsized business clients.

The Internal Revenue Service’s Office of Professional Responsibility has prevailed in a Texas attorney’s appeal of an order for disbarment to practice before the IRS for willfully failing to file his federal tax returns.

Rep. Tim Bishop, D-N.Y., has introduced an energy bill that would eliminate some of the tax breaks enjoyed by the major oil producers.

The American Institute of CPAs told a congressional subcommittee that it should urge the U.S. Small Business Administration to increase its small business size standards for small business accounting firms to $25.5 million from the current $8.5 million.

Republicans in the House and Senate introduced a bill Thursday that could drastically change the way states distribute unemployment insurance benefits.

IMGCAP(1)]Whether we like it or not, the accounting industry has not typically been on the cutting edge of technology.

A bipartisan group of Midwestern state senators introduced legislation Wednesday to update ethanol tax credit policies, but not repeal the tax credit.

James Capel, a former aide to Congressman Charles Rangel, D-N.Y., has pleaded guilty to failing to file tax returns for three years.

The International Federation of Accountants’ Professional Accountants in Business Committee has issued proposed guidance on how accountants can help businesses and their own firms do better forward-looking analysis.

Intuit teamed up Wednesday with the National Association of Tax Professionals on a series of tax prep training programs designed for Intuit customers.