Practice management

U.S. life insurers take billions of dollars in undeserved tax deductions by shifting capital to states with looser reserve requirements and the practice should be halted by the Internal Revenue Service, a New York regulator said.

Some of our favorite recent tax fraud cases.

In the waning days of the congressional term, a lawmaker has introduced legislation that would offer a reduced tax rate of 8.75 percent on corporate profits repatriated from abroad and use the money to pay for infrastructure improvements.

The Internal Revenue Service released a revenue procedure Friday providing rules for the nationwide rollout of post-appeals mediation for both Offer in Compromise and Trust Fund Recovery Penalty cases.

If you intended to start a new health regimen after the first of the year, you would start planning for the change, right? Maybe you’d research gym memberships or look into the cost of joining a programmed diet. Perhaps you’d start reading motivational articles to psych yourself up for the new commitment. At a minimum, you’d stock your pantry with healthy food choices or begin making a list for the grocery store.

Capstone Marketing president Jean Marie Caragher offers advice to CPAs on how to plan and focus their marketing activities, in an interview with AccountingToday.com editor-in-chief Michael Cohn at Accounting Today's Growth & Profitability Summit in Boca Raton, Fla.

The surge in U.S. companies avoiding taxes by taking a foreign address has been condemned by President Barack Obama and stirred a policy debate in Congress. What’s often overlooked is that these “inversions” are typically a final step in a hopscotch of multinational tax dodging.

The U.S. House of Representatives rejected an $11 billion bill that would have provided tax incentives for charitable donations of food, money from retirement accounts and land-development rights.

Financial data provider Powerlytics has crunched the numbers and created a ranking of the most profitable states in which to operate an accounting practice.

The Internal Revenue Service used its legislative authority to hire employees at salaries higher than those typically given to senior executives in the federal government, according to a new government report that found the practice appropriate, even though Congress has now stepped in to change it.

With the advent of the holiday season, now may be just the time to market yourself and your staff to potential clients, according to Chuck McCabe, president and chief executive of Peoples Income Tax and The Income Tax School.

Outgoing House Ways and Means Committee chairman Dave Camp, R-Mich., officially introduced Thursday the comprehensive tax reform package he has been laboring over in recent years.

Sen. Tom Coburn, R-Okla., has released a report highlighting billions of dollars in tax breaks for “special interests.”

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

The Republican and Democratic leaders of the House Ways and Means Committee have introduced bipartisan legislation to protect taxpayers against the inappropriate use of civil asset forfeitures by the Internal Revenue Service.

As year-end approaches, it would be worthwhile for practitioners to consider whether corporate clients could benefit from the following “last minute” tax-saving moves, including adjustments to income to preserve favorable estimated tax rules for 2015, deferral of certain advance payments to next year, and fine-tuning bonuses to make the most of the Section 199 domestic production activities deduction.

The Internal Revenue Service has issued an announcement extending the “deemed compliant” status of countries that are treated as if they had an intergovernmental agreement with the U.S. Treasury Department in place for purposes of the Foreign Account Tax Compliance Act.

The Internal Revenue Service issued the 2015 optional standard mileage rates on Wednesday that are used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Lawmakers in Congress have included a fourth renewal on the ban on Internet access taxes as part of a spending deal to avert a government shutdown.

Congress has cut the Internal Revenue Service’s budget once again, reducing the tax agency’s fiscal year 2015 budget by 3 percent compared to this year’s funding level.