Practice management

The House approved the Small Business Jobs Tax Relief Act of 2010 on Tuesday by a bipartisan majority of 247-170.

The lower house of the Swiss Parliament voted Tuesday to approve a deal signed by the Swiss and U.S. tax authorities last year to disclose the identities of up to 4,450 U.S.-based taxpayers who have secret bank accounts at UBS.

The Association of Accounting Marketing plans to restructure its committees and subcommittees starting in July.

A married couple was convicted of running an elaborate tax shelter scheme for over a decade in which they marketed tax trusts to clients, filed lawsuits against IRS employees, and prepared a $108 million tax lien against former Treasury Secretary John Snow.

A new report finds that the majority of financial institutions and companies that received funds from the Troubled Asset Relief Program have resolved the unpaid federal taxes they had owed.

Nonprofit organizations need to maintain adequate reserves to safeguard their financial stability, according to a new paper by Grant Thornton.

The Internal Revenue Service has issued regulations outlining how the 10 percent excise tax on indoor tanning services in the health care reform bill should be administered.

The Internal Revenue Service is not processing taxpayer checks quickly enough, causing the government to lose money on interest payments, according to a new report.

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.

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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.