Practice management

The Internal Revenue Service allowed over $27.2 million in potentially wrong tax refunds or tax credits to 1,938 taxpayers who made so-called “frivolous tax arguments,” according to a new report.

Facebook Inc. is carrying on its fight with the U.S. Internal Revenue Service over taxes relating to its transfer of global operations to Ireland in 2010.

The IRS is sending due diligence letters to paid preparers who may be noncompliant in meeting their Earned Income Tax Credit due-diligence requirements.

Hillary Clinton’s proposed tax increases on people with high incomes and on businesses would constrain economic growth, according to a policy group’s analysis.

“Why should I give free advice?” That’s a question we sometimes hear when we advise clients to blog, answer questions in public forums and generally offer professional insight to their audiences.

Highlights of some of our favorite tax-related blogs from the past week.

The Internal Revenue Service is giving victims of Hurricane Matthew in North Carolina extra time to file their tax returns and make tax payments.

Every year Accounting Today publishes the results of their survey that identifies the “Best Firms to Work For.” Since I have been out of the daily management of an accounting firm for a few years, I was curious to learn what new and innovative policies the leading firms today are embracing that puts them in the rankings as a great place to work.

President Obama has signed legislation exempting Olympic and Paralympic athletes from taxes on their medals and winnings.

Democratic presidential nominee Hillary Clinton is proposing to revamp and expand the child tax credit to provide more benefits for low-income families and for eligible families with children age 4 and under.

Warren Buffett just fact checked Donald Trump.

A new IRS test program doubles the dollar limit for people to more easily set up payment plans for their tax debt.

A roundup of our favorite recent tax fraud cases.

Joel Sinkin of Transition Advisors explains in this video why valuations of accounting firms that are being bought and sold are on the decline.

Imagine a partner announces their retirement and your firm buys out the equity stake. Five years later, the partner is still working with and controlling the same client relationships as always. Worse yet, the “retired” partner is getting more and more difficult to work with every day but has been fully paid. What do you do?

The American Institute of CPAs sent a letter Friday to the Internal Revenue Service with 40 recommendations that it wants the IRS to consider when drafting guidance on a new regime for auditing large, complex partnerships.

The Internal Revenue Service added new data elements last tax season to its computer system filters to catch suspected cases of identity theft-related tax fraud totaling $4.1 billion, according to a new report, but it posted information about the secret data elements on its public website IRS.gov before removing it.

Police in India have raided nine call centers in Mumbai and arrested 70 people who were calling phone numbers in the United States pretending to be Internal Revenue Service demanding payment for taxes.

A new question surrounding Republican presidential nominee Donald Trump’s business empire emerged recently, thanks to the publication of a 1995 New York state tax document: How could he have had a $916 million personal loss from troubled ventures that burned his creditors?

The Internal Revenue Service has issued final regulations on whether software that has been developed by companies for their own internal use can qualify for the research and development tax credit.