Practice management

The Internal Revenue Service’s oversight of the Low-Income Housing Tax Credit program has been “minimal,” according to a new report by the Government Accountability Office.

An estimated 24,237 taxpayers may have been adversely affected because the Internal Revenue Service did not follow requirements to notify the taxpayers’ representatives of the taxpayers’ rights related to notices of federal tax liens, according to a new report.

The IRS is seeking to limit private-equity executives’ practice of reducing their tax bills by reclassifying how their management fees are taxed.

The IRS needs stronger ways to prevent nonprofit groups from facing audits because of employees’ biases, the Government Accountability Office found in a report being issued Thursday.

Working with accounting professionals, a common challenge we often encounter is a CPA’s inability to secure an engagement and their frustration of not understanding why this happens. Analyzing these situations has led us to uncover that one of the main reasons for not securing an engagement is a fear of climbing!

The union representing Internal Revenue Service employees is denouncing a provision in the pending highway funding bill that would require the Treasury Secretary to contract with private collection agencies as an offset for some of the costs of extending funding for the Highway Trust Fund.

Returns stats, ACA results and more from the 2015 filing season

Sen. Rand Paul, R-Ken., who is one of the Republican candidates running for President, demonstrated his tax reform chops by releasing a campaign video showing him destroying the 70,000-page U.S. Tax Code with a chainsaw, fire, and a wood chipper.

The Senate Finance Committee passed a tax extenders bill Tuesday with a bipartisan vote of 23 to 3 that extends over 50 tax breaks for two years.

Marc Rosenberg of Rosenberg Associates has published a new how-to guide for facilitating accounting firm partner retreats.

The Internal Revenue Service plans to make changes in its determination letter program for retirement plans in an effort to save money.

Tax assessments from the Internal Revenue Service’s Automated Underreporter Program have increased 85 percent in recent years, although the accuracy-related penalties were not always applied, according to a new report.

Four out of five family-owned businesses in the United States are not ready for succession, according to a new study by the accounting firm Baker Tilly.

BDO USA saw a whopping 26 percent spike in annual revenue for the fiscal year ended June 30, 2015, growing to $1.05 billion from $833 million last year.

Approximately 710,000 taxpayers who received the Advanced Premium Tax Credit for buying health insurance last year have not filed their tax returns or filed for an extension.

House Democrats introduced two bills to shore up the Highway Trust Fund with money from corporate taxes.

Many bosses hold back their subordinates without realizing they hold themselves back even more.

Former New York congressman and FBI agent Michael Grimm is heading to prison for scamming the government out of taxes in his operation of a Manhattan health food restaurant.

Some of our favorite recent tax fraud cases.

Given the remarkably rapid rise of Internet commerce, it’s no surprise that cash-strapped states are looking for ways to tap into (i.e., tax) the bountiful stream of revenue.