Practice management

Tax pros shares the different ways they relax after April 18 — and how many of them get right back to work

The Internal Revenue Service plans to make changes in its procedures and computer systems to better identify a taxpayer’s outstanding tax debts and subtract them from the tax refunds they receive, particularly for owners of small businesses.

Jim Boomer will succeed his father L. Gary Boomer as CEO of Boomer Consulting, Inc., as part of a long-term succession plan that has been underway for the last seven years and includes several other big moves at the prominent accounting firm consultancy.

Chevron Corp. used a shell company in a tax haven to escape hundreds of millions of dollars in Australian taxes, according to a 2015 court ruling. The subsidiary, which allowed Chevron to eliminate Australian taxes on $1.7 billion in profit earned there, wasn’t secreted away on a remote tropical island—it was set up in the very mundane locale where corporate secrecy was born: Delaware.

TaxAct plans to launch a new sweepstakes next week for tax professionals to celebrate the end of tax season.

Texas storm victims, including those in the Houston area, have until September 1 to file their returns and pay any taxes due, the IRS said.

Market segmentation and why your firm should be doing it

REDW LLC, one of the Southwest’s 10 largest accounting firms, has elected Steve Cogan as managing principal, succeeding Ron Rivera, who has served as firm-wide managing principal for the past 15 years.

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

As a general rule, the cost of commercial real estate improvements is recovered over a painfully long period of 39 years via straight line depreciation only.

Rebecca Newton-Clarke, a senior editor/author at Thomson Reuters’ Checkpoint, discusses some of the sales tax issues that are relevant to e-commerce, including nexus, in this video.

Global shipping and international trade have been reserved historically for big companies with the resources required to manage the disparate steps involved in moving shipments worldwide. After managing “big trade” for some of the largest companies in the world, I believe the real global trade opportunity is with small and midsize businesses. But SMBs are likely flying blind (and under your radar); they need your help.

Sen. Ron Wyden, D-Ore., has proposed to simplify the complicated capital depreciation rules for businesses.

A Georgia couple have pleaded guilty to participating in a identity theft-related tax fraud scheme in which they used the Internal Revenue Service’s online ‘Get Transcript’ application to steal other taxpayers’ refunds.

With the April 2016 tax filing season behind us, it is time to start focusing clients on new tax issues they will be facing for the current tax year.

Ever-evolving regulatory complexity, coupled with an increasingly competitive marketplace, globalization and the rise of part-time and casual employees make it more difficult than ever for growing businesses to keep up with the numerous changes in the law, risking costly noncompliance.

The state tax arena is filled with variation, complexity, confusion and ambiguity, which has major implications for U.S. corporations, according to findings from Bloomberg BNA’s 2016 Survey of State Tax Departments, conducted for the 16th consecutive year.

The New York State Society of CPAs will be holding its first ever Sustainability Investment Leadership Conference on May 6. This is a new area that could result in substantial involvement by CPAs.

The Internal Revenue Service has released final regulations providing guidance to private foundations on program-related investments.

A pair of Senate Democrats, Chuck Schumer, D-N.Y., and Maria Cantwell, D-Wash., are urging their colleagues to increase the Low-Income Housing Tax Credit by 50 percent.