Practice management

Technology glitches with new software at the Internal Revenue Service caused it to initially reject nearly a quarter of the 127,105 tax returns it processed during its first three weeks of operation in February.

YOUNG'S GEN X VIEWPOINT

Succession planning to determine thefuture of a firm remains a challenge for many accounting practices - particularly when family is involved.

IRS LEAVES HSA RATES IN PLACE

Washington, D.C.

In spite of the growth and popularity of limited liability companies taxed as partnerships, S corporations remain a very popular option for doing business. Internal Revenue Service records show that S corporations remain the most popular way for a business to file tax returns.

I admit that sometimes I live in a fantasy world. I actually think that I'm getting a buzz from lite beer. I sometimes believe that John Edward can really talk to the dead. Or that John Edwards' marriage isn't dead. Or is it the other way around?

REPORT: IRS SOFT ON TAX LIENS

With California unemployment hovering at 13 percent and the national unemployment rate still above 9.5 percent, long-term unemployment is clearly one of the biggest challenges for the U.S. economy.

The Senate Finance Committee held hearings last week to consider the effects of the soon-to-expire “Bush” tax cuts, and those problems could be magnified for tax practitioners and their clients.

The Internal Revenue Service’s Criminal Investigation division has stepped up its prosecutions of tax preparers in Southern California.

Goldman Sachs will pay a record penalty of $550 million and reform its business practices to settle SEC charges that the bank misled its investors in marketing a subprime mortgage product just as the U.S. housing market was starting to collapse.

Senators Charles Schumer, D-N.Y., has proposed extending the HIRE Act tax credit for employers who hire out-of-work employees.

The Senate passed a sweeping financial regulatory reform bill on Thursday by a 60-39 margin after three Republicans joined all but one Democrat in supporting the Wall Street overhaul.

The Tax & Accounting business of Thomson Reuters plans to introduce iPhone and iPad apps that will provide a front-end to the company’s Checkpoint Learning software.

The Internal Revenue Service's current method of sending notices and letters is costing taxpayers millions of dollars because it results in a large amount of undeliverable mail, according to a new government report.

IMGCAP(1)]Hiring a marketing agency for your firm doesn’t have to be overly complicated or expensive.

Senate Majority Leader Harry Reid plans to hold a procedural vote on extending unemployment benefits next Tuesday and a vote on the financial reform bill this Thursday.

The Senate Finance Committee held a hearing Wednesday to discuss the soon-to-expire 2001 and 2003 tax cuts and how to extend any of them without increasing the budget deficit or hurting economic growth.

The Internal Revenue Service gave the following tips for job seekers on how they can deduct some of their job search expenses on their tax returns.