Practice management

Accounting firm Plante & Moran has transplanted its Grand Rapids offices into a larger and “greener” space.

Accounting firm Citrin Cooperman has added a “Growth & Protection Team” to provide business consulting services to small and midsized businesses.

There are possible tax strategies that are particularly suited to the times that we are in. Here are two that I keep seeing, with the latest in a press release from a major tax publisher. According to analysts with the Tax & Accounting business of Thomson Reuters, C corporations may secure a refund of overpaid estimated taxes, or use projected current-year NOL to offset taxes owed for the previous year.

The Internal Revenue Service is changing its lockbox payment addresses in five states for individual taxpayers and 23 states for business taxpayers in the New Year.

The Internal Revenue Service has issued proposed regulations that provide rules for assessing penalties against tax advisors who fail to file a true and complete tax return on a timely basis.

President-elect Barack Obama has named venture capitalist Karen Mills to lead the Small Business Administration, drawing fire from one small business group.

A Florida man has been convicted of hiring a hit man to murder an Internal Revenue Service employee who was auditing his taxes.

President-elect Barack Obama has named Mary Schapiro as the next chairman of the Securities and Exchange Commission, replacing Christopher Cox.

CBIZ is acquiring Tofias in a deal estimated at $55 million as the accounting provider expands its reach across the Northeast to the New England area.

KPMG saw its member firms' combined revenues around the world grow by 14.5 percent to $22.69 billion in the fiscal year ending Sept. 30, 2008.

Marcum & Kliegman has created a task force to advise investors who may have been defrauded by Bernard Madoff and his investment management business.

The Internal Revenue Service plans to make it easier for financially troubled homeowners to avoid federal tax liens that block them from selling their homes or refinancing their mortgages.

Worldwide revenue for the BDO International network, which includes U.S. member firm BDO Seidman, grew to $5.145 billion in the fiscal year ending Sept. 30, a 9 percent increase from last year.

The Internal Revenue Service has issued new guidance on implementing the recently amended tax return preparer penalty, which punishes tax preparers for taking "unreasonable positions" on tax liabilities.

Leaders of the House Ways and Means Committee wrote to President-elect Barack Obama asking him to end the Internal Revenue Service's private debt collection service.

It’s one thing to be a leader within your firm, however, it’s quite another to also be a leader within your community.

If you haven’t already, you might shortly be asked, “What are the tax implications of riding a bicycle to work?” And your answer will be for taxable years beginning after December 31, 2008, under Section 132(f)(5)(F)(i) a ”qualified bicycle commuting reimbursement fringe benefit” will be considered a qualified transportation fringe benefit.

In a review of Internal Revenue Service efforts to determine whether charitable and non-profit organizations are being used to divert funds to support terrorist activities, the Treasury Inspector General for Tax Administration suggested a number of steps the Criminal Investigation Division could take to improve counterterrorism efforts.

CCH SFS BUYS INTELLITAX

Firms today are facing succession-planning issues at an unheard-of pace. Blame it on the Baby Boomers and the overall demographics of the accounting profession and the population in general.Over the past year I have worked with several managing partners in helping them transition from one set of leaders to another. The question I often get is, "When is the time right?" Managing partners decide to pass the baton to the next generation at different times. Some decide it's time when they are in their early or mid-50s, since they want to do other things in life. Others will hold on until the last possible moment. Some never make a transition.