Practice management

The Senate Finance Committee held hearings to determine how to pay for health insurance reform, including through new taxes and tax credits.

Financial professionals gathered at a recent life insurance conference expressed relief about two revenue rulings issued by the IRS this month.

The IRS has found that a nonprofit foundation that gathered a group of pastors in 2006 for a series of public conferences in advance of a Texas gubernatorial campaign did not violate the tax laws governing nonprofits.

Most of the major banks passed the financial stress tests with flying colors last week, in no small part thanks to some key concessions by the Federal Reserve.

New York City CPA Jonathan Medows specializes in helping small business owners and freelancers cope with the economic crisis.

Two current and two former Ernst & Young partners were found guilty of tax fraud and conspiracy charges related to tax shelters.

The “greenbook” released by the Obama administration on Monday includes a number of proposals of special interest to tax preparers.

The Obama administration released detailed plans to cut $800 billion in taxes on small businesses and middle-class families over the next 10 years, while raising $122.5 billion in corporate taxes

A recent decision by the Massachusetts Appellate Tax Board related to inter-company pricing may put state tax auditors on notice not to overreach when assessing the value of services and products provided between companies and their out-of-state affiliates.

The Internal Revenue Service is asking small tax-exempt organizations to remember to file their annual electronic informational return by the May 15 deadline.

Internal Revenue Service agents raided a local tax practice in Central Florida known as Taxes by Mr. Bill and accused the firm of stealing its clients’ tax refunds.

A county tax commissioner in New Jersey has been replaced after he was indicted last week for conspiring to embezzle $278,650 from his Elks Lodge to gamble in Atlantic City.

In a year that is projected to record a high number of CPA firm mergers, a pair of managing partners told attendees at the AICPA Practitioners Symposium here that both parties should be prepared to navigate through changes in culture and processes that often complicate the consolidation process.

The former director of finance for packaging-machine maker Winpak Lane’s California office has pled guilty to tax and embezzlement charges.

1. Between 2002 and mid 2008, CPA firms enjoyed one of the biggest booms in the profession’s history. Business was so good that most firms stopped proactive marketing because they couldn’t handle any more business.

MAY

Business must act quickly, but cautiously, in assessing whether to take advantage of the temporary relaxation of cancellation-of-debt-income (CODI) rules and applicable high-yield discount obligation (AHYDO) restrictions that are now operative, thanks to the 2009 Recovery Act.

CCH is offering free CPE sessions to tax and accounting professions to introduce them to its new IntelliConnect online tax research service.

President Barack Obama and Treasury Secretary Timothy Geithner outlined a series of moves aimed at closing corporate tax loopholes that encourage U.S. companies to shift income and jobs to other countries.

A 23-year-old Russian has been arrested for stealing about $105,000 in tax refunds after he set up a set of fraudulent Web sites that claimed to prepare taxes for free.