Practice management

Accounting firm Macias Gini & O’Connell has rebranded itself as simply MGO and adopted the slogan, “Proud to Be Boring Accountants.”

Senate Majority Leader Harry Reid, D-Nev., has introduced an amendment to the tax extenders bill that would extend the transaction closing date for the First-Time Homebuyer Credit from June 30 to Sept. 30.

IMGCAP(1)]Telecommunication expenses are one of the top five expense items for most organizations. However, it is also a category of spending that is poorly understood and often mismanaged. Now more than ever, it is vital that accountants and tax professionals gain more visibility into telecom spending to help organizations save money and improve business processes.

The Internal Revenue Service basically dismissed over $1.4 billion in delinquent taxes between 2002 and 2008 without filing tax liens to collect them, according to a new report.

IMGCAP(1)]Whether you work within the confines of a large accounting firm with a valuation arm, or are running your own small appraisal business, the recent financial obstacles facing valuation professionals appear fairly consistent across the board.

Court-Innocent-Spouses-Still-Have-Only-Two-Years

The G-20 group of finance ministers decided last weekend against levying a global bank tax amid fierce opposition from some countries, but that doesn’t mean the idea of taxing banks to pay for future bailouts is gone completely.

Senate-Modifies-Carried-Interest-Tax-Provision

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An IRS agent has been charged withsoliciting and accepting a $9,700 bribe from two business owners in exchangefor lowering the amount of taxes they owed.

The Internal Revenue Service will hosta webinar on tax preparer registration this Wednesday, June 9, at 2 p.m. EST.

Following earlier announcements foretelling their arrival, the Internal Revenue Service, with Announcement 2010-30 on April 19, 2010, released a draft schedule, Form UTP, and instructions for reporting uncertain tax positions. The IRS hopes to finalize the schedule and instructions for the 2010 tax year after comments are evaluated on the proposals. Comments were due by June 1, 2010.

I've lived in the same neighborhood outside of Philadelphia for over 10 years now, and it's time to pay homage to two penny-pinchers that really get it: Jim and Rich.

The Internal Revenue Service has provided guidance on how tax-free health insurance coverage should now be provided for employees' children who are under 27 years of age under the recently passed health care reform law.

An estimated 1.2 million tax returns filed in 2007 reported wages earned by taxpayers who used another taxpayer's Social Security number, according to a new government report.

The first set of proposed regulations on preparer registration requirements has generated a host of comments from several of the major tax professional organizations.

U.S. TO PURSUE MORE OFFSHORE TAX EVADERS

The State of California, struggling with a $19 billion budget deficit, is considering legalizing and taxing marijuana in a referendum on the November ballot.

CPAs are increasingly being asked to solve the information technology problems of their clients and prospective clients, according to a new survey by the American Institute of CPAs.

The Swiss Parliament’s upper house voted Thursday in favor of Switzerland’s deal with the U.S. government to share the identities of 4,450 U.S. clients of UBS with numbered bank accounts.