Practice management

President-elect Barack Obama reportedly plans to modify several of the tax break proposals that his transition team has been planning for the economic stimulus package after encountering resistance from key lawmakers.

Financial Executives International's Committee on Taxation has written to congressional leaders encouraging them to include more tax relief provisions for businesses in the economic stimulus package.

The IRS could start taxing virtual environments like Second Life and World of Warcraft to get a cut of the real dollars that are spent on potions, armor and weapons in the online gaming world.

A new report by the Government Accountability Office on last tax-filing season suggests the Internal Revenue Service beef up its enforcement efforts while it processes returns.

A survey of over 1,000 U.S. adults found that most of them could not answer basic tax questions.

CCH has introduced an online service that promises to offer tax professionals a way to get faster access to client documents from the Internal Revenue Service.

In these tough economic times, as in others, there are many news items on companies declaring bankruptcies and announcing substantial staff cuts. What is different this time is that I am also reading about a number of cost-cutting strategies that are gaining in popularity and aimed at reducing expenses without disrupting business operations or laying off staff.

An internal revenue agent has sued the IRS for firing her after she insisted on wearing a ceremonial knife on the job.

Walter C. King Associates is offering tax recovery and forensic accounting services to investors who fell victim to Bernard Madoff's Ponzi scheme.

Graf Repetti & Co. has merged with Marx, Lange, Gutterman, effective Jan. 1, augmenting Graf Repetti's presence in New York.

The latest economic stimulus plan advanced by the incoming administration may approach $1 trillion, with $300 billion in tax cuts or refunds.

Payroll processor SurePayroll is offering free payroll-processing services to accounting firms for up to one year.

The mausoleum set up by Roland Burris, the former Illinois attorney general named to succeed Barack Obama in the U.S. Senate by disgraced governor Rod Blagojevich, includes on a list of accomplishments the fact that he was the first non-CPA to be on the board of the Illinois CPA Society.

There’s nothing like a good clear financial statement. And in a time when lenders are very stingy, those basic reports are more valuable than ever. In fact, this is one of those times that good accounting and advisory services are more valuable than ever.

They’re back and ready to dole out hundreds of billions of dollars in new tax cuts and spending, but will it be enough to restart the limping economy?

National Taxpayer Advocate Nina Olson said in her annual report to Congress that taxpayers affected by the recession should be treated more compassionately by the IRS.

President-elect Barack Obama and his transition team reportedly plan to propose approximately $300 billion in tax cuts as part of an overall economic stimulus package.

The Internal Revenue Service has added four new tax experts to its IRS Advisory Council who will provide the agency with outside input on tax administration issues.

The Internal Revenue Service has issued new regulations on cost-sharing arrangements for multinational companies that provide some extra flexibility in transfer pricing schemes.

Kahn, Litwin, Renza & Co., has merged in Sullivan Shuman & Freedberg, allowing KLR to build its presence in the Greater Boston area.