Practice management

Learn what practitioners should be focusing on in their upcoming year-end and general tax planning with both individual and corporate clients in this free webcast.

The Internal Revenue Service distributed roughly $1.6 billion in refunds to taxpayers who filed falsified tax returns in 2006 and 2007, despite efforts to stop them, according to a new report from the Treasury Department's inspector general.

The Internal Revenue Service plans to increase the fee for obtaining an exact copy of a previously filed and processed tax return with all the attachments.

The Treasury Department and the Internal Revenue Service have issued guidance on indirect ownership of preferred stock in mortgage lenders Fannie Mae and Freddie Mac.

Optimism among CFOs about the U.S. economy and their own companies fell precipitously in the third quarter, according to a new survey.

The House Committee on Small Business held a hearing on creating opportunities for small businesses in an economic recovery.

An advisory committee on tax information reporting has recommended a number of changes for the Internal Revenue Service to make to improve taxpayer identity protection, disaster reporting and other matters.

The Tax Foundation has selected three videos as winners of a contest that aims to draw attention to the high rate of business taxes in the U.S.

House Financial Services Committee Chairman Barney Frank, D-Mass., said he did not plan to have Congress suspend fair value accounting rules.

Accounting firm J.H. Cohn has formed a Client Economic Recovery Team to advise financial institutions and public companies affected by the financial crisis.

Accounting firms plan to continue growing through client specialization, joining networks and other strategies, according to a new survey.

Accounting firm Eide Bailly has expanded by combining with three other practices: Gordon, Hughes & Banks; Keller, Young & Grover; and Magee, Rausch & Shelton.

It might seem strange, pairing the phrase “love fest” with the AICPA Fall Council meeting, but I tell you, the lovely and heartfelt moments were flowing as freely as the wine and margaritas at the opening reception.

“An emperor of a prosperous city who cares more about clothes than military pursuits or entertainment hires two swindlers who promise him the finest suit of clothes from the most beautiful cloth. This cloth, they tell him, is invisible to anyone who was either stupid or unfit for his position. The Emperor cannot see the (non-existent) cloth, but pretends that he can for fear of appearing stupid; his ministers do the same. When the swindlers report that the suit is finished, they dress him in mime. (acting out a story through body motions, without use of speech—Ed.) The emperor then goes on a procession through the capital showing off his new ‘clothes.’ During the course of the procession, a small child cries out, ‘But he has nothing on!’ The crowd realizes the child is telling the truth. The Emperor, however, holds his head high and continues the procession.”

The Internal Revenue Service has withdrawn a tentative assessment of more than $319 million in tax penalties against FedEx.

An attorney for New York Governor David Paterson's chief of staff has attributed his client's neglect in filing tax returns between 2001 and 2005 to "failure-to-file syndrome."

The Internal Revenue Service said that more than 279,000 economic stimulus checks, totaling about $163 million, and over 104,000 regular refund checks, totaling about $103 million, have been returned by the U.S. Postal Service due to mailing address errors.

A recent study of unpublished Internal Revenue Service data has found that wealthier people are hiding their income at greater rates than those in lower income brackets.

The dispute between the American Bankers Association and the Financial Accounting Standards Board heated up as ABA president Edward Yingling called for a new accounting oversight board that would hold sway over FASB.

The Internal Revenue Service reported that it has seen a strong response to its settlement offer for two types of tax shelters, with companies agreeing to pay back taxes totaling billions of dollars.