Practice management

A man who operated several tax preparation businesses has been sentenced to 11 years in federal prison after he was convicted of defrauding clients and the Internal Revenue Service.

S corporations are the nation's most common corporate tax designations.

Mary Schapiro, President-elect Barack Obama's choice as chairman of the Securities and Exchange Commission, signaled that she could delay the planned transition to International Financial Reporting Standards.

The Internal Revenue Service plans to open its electronic filing season on Friday, Jan. 16, and debut a new service that allows taxpayers to simply fill out forms on-screen and file their taxes for free.

Raoul Weil, the former head of Swiss bank UBS's cross-border private banking operations, was declared a fugitive by a Fort Lauderdale judge as U.S. prosecutors upped the ante in their battle against Swiss bank accounts used to shelter assets from taxation.

Gocial Gerstein LLC has merged with Gold, Meltzer, Plasky and Wise to form Gold Gocial Gerstein LLC.

The Internal Revenue Service has issued final regulations related to postponement of certain tax-related deadlines due to either service in a combat zone or a federally declared disaster.

The House Appropriations Committee has proposed an economic stimulus bill containing $275 billion in tax cuts and $550 billion worth of spending on renewable energy, infrastructure, education and other projects.

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.