Practice management

Beyond the expected calls for tax fairness and middle-class relief, the President’s State of the Union address touched on a number of other significant topics.

Key challenges facing small- and medium-sized practices in the accounting industry worldwide have been identified as attracting new clients and complying with regulations and standards, according to a new survey by the International Federation of Accountants.

Treasury Secretary Jack Lew said Wednesday that congressional Republicans and the Obama administration are too far apart on individual tax reform but could reach an agreement on business tax reform.

With the top income tax rate at 39.6 percent, advisors need to be savvy about the tax-saving strategies they utilize for their high net-worth clients.

The pervasive IRS impersonation phone scam has claimed nearly 3,000 victims who have collectively paid over $14 million, according to a new warning from the Treasury Inspector General for Tax Administration.

Federal prosecutors have agreed to return nearly $447,000 to a small business whose assets had been seized by the Internal Revenue Service and Treasury Department agents as part of the controversial civil forfeiture program.

The latest attempt to make the biggest change to the U.S. tax code in 29 years isn’t just an exercise, the top Senate Republican tax-law writer said.

President Obama urged the Republican-dominated Congress to move ahead on tax reform to lower taxes on middle-class families during his State of the Union address on Tuesday evening.

Accountants who offer business valuation services can bring in new business for their practices, although perhaps not as frequently as they would get from more familiar bread-and-butter services.

Working together with a number of agencies, including Customs and Border Protection, the FBI, Interpol and local police departments, the IRS Criminal Investigation unit has helped bring to justice dozens of members of the Sinaloa Cartel.

The Internal Revenue Service began accepting electronically filed individual tax returns Tuesday, opening the tax season on time this year despite its latest budget crunch.

A couple weeks ago I wrote about QuickBooks and how we became the largest QB consultants in New Jersey along with receiving a few clients with very substantial fees. I’ve gotten some calls asking about them and what we did, so here is a description of three of them.

Three New York residents, including one former IRS employee, have been indicted in federal court for defrauding the U.S. government by filing false claims for millions in false refunds.

A group of Democratic lawmakers in the House and Senate have introduced legislation to discourage U.S. corporations from merging with overseas companies to lower their tax bills in a strategy known as inversion that changes the company’s tax domicile.

Grant Thornton reached record combined global revenues of US$4.7 billion, achieving 4.6 percent growth in U.S. dollars (or 4.9 percent in local currency terms) for the fiscal year ended Sept. 30, 2014.

Some of our favorite recent tax fraud cases.

President Barack Obama is proposing new taxes on the wealthiest Americans that would limit their profits from investments and make it harder for them to pass assets to heirs.

The Treasury Department and the IRS have released proposed regulations on the application of the research tax credit for internal use at companies in an effort to provide better clarity to businesses and tax professionals on the proper rules.

Ah! Creative accounting! No! Stop! There is only one way to account for activity and that is the right way.

The Internal Revenue Service is eliminating the extended weekday hours, Saturday and President’s Day availability of its e-help desk service due to budget cuts.