Practice management

The tax-related talk in Washington lately has shifted from overall tax reform to specific fixes like eliminating about $4 billion in tax breaks for major oil companies.

A bipartisan group of senators has renewed the effort to repeal tax credits for ethanol, introducing a bill Tuesday that would fully eliminate the Volumetric Ethanol Excise Tax Credit.

The Treasury Department and the Internal Revenue Service have asked for public comment on issues related to provisions of the health care reform law requiring employers to help pay for the cost of providing government-run health insurance to their employees.

Payroll and benefits outsourcing provider Paychex has acquired online 401(k) administrator ePlan Services.

A new analysis by Congress’s nonpartisan Joint Committee on Taxation found that 51 percent of U.S. households did not pay any federal income tax in 2009.

A U.S. Postal Service worker has been found guilty of participating in a scheme to steal millions of dollars in federal tax refund checks from the U.S. mail.

President Obama repeated his demand for Congress to eliminate an estimated $4 billion in tax breaks for the major oil and gas companies.

The Internal Revenue Service said Monday it is accepting applications for the Internal Revenue Service Advisory Council, which provides a public forum for IRS officials and representatives of the public to discuss relevant issues regarding federal tax administration.

The Internal Revenue Service received an award for the written clarity of its official notices, while insurance provider CareFirst Blue Cross Blue Shield of Maryland received an award for the most confusing language.

An Ohio CPA has pleaded guilty to charges that he helped clients file false tax returns claiming investments in gas wells.

A number of years ago, a gaming and hospitality analyst whom I'd interviewed a number of times was fired after he told The Wall Street Journal that a certain casino in Atlantic City was basically a house of cards and would not survive.

Marketing professionals are fond of telling clients to look to the logo and beyond when it comes to branding. But for many CPA firms, the economic downturn had managing partners' eyes trained on only one line - and it wasn't underlining a focus-group-tested font.

The Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011, which passed Congress on April 5, 2011, eliminates two recently enacted 1099 reporting requirements that were to take effect in 2012. Still on the books, however, are a couple of new 1099 reporting requirements effective for 2011.

Many CPA and accounting firms have taken the leap into the world of Web site marketing through search engine optimization. Though the mechanics of the optimization process have been well-documented across several print and online publications, there has been little discussion about the business-development process for Web site-generated leads, which do differ from the more standard lead.

SHULMAN PROPOSES TAX TECHNOLOGY OVERHAUL

As trusted advisors, accountants and auditors guide clients regarding various financial reporting, tax and management matters. A currently contemplated tax policy change may provide an ideal opportunity for advising clients.

The Texas Society of CPAs has issued an analysis of the Obama administration’s call for eliminating special tax breaks for domestic oil and gas production and come out firmly against any repeal.

The Internal Revenue Service has selected Prometric Inc. as the vendor to administer a new competency examination and fingerprinting program for certain paid tax return preparers.

Treasury Secretary Timothy Geithner blamed a “broken” tax system as one of the chief causes of the U.S. budget deficit.

It’s good that tax reform is high on the political agenda these days.