Practice management

Dozens of tax breaks that lapsed Dec. 31 would be revived in a plan to be presented soon by the new chairman of the U.S. Senate Finance Committee.

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

Almost everyone uses Facebook to connect with friends and family. And YouTube is the place for sharing and watching videos. Great for fun, but not for real work. Have you ever considered bringing people together “socially” like YouTube or Facebook—but for getting work done, instead of avoiding it?

The Internal Revenue Service is giving the Mega Millions jackpot some serious competition, with tax refunds totaling $760 million ready to be handed over to an estimated 918,600 taxpayers who did not file a federal income tax return for 2010.

A majority of public companies may be able to avoid the need to file their financial reports using Extensible Business Reporting Language, or XBRL, technology if a congressional bill gets signed into law.

An Internal Revenue Service employee took home a computer thumb drive containing unencrypted data on 20,000 fellow workers, the agency said in a statement.

CCH is warning participants in the NCAA college hoops March Madness brackets that any of their winnings in the office pool will be subject to taxes.

When your nonprofit clients understand the conditions that lead to fraud, they are better equipped to reduce risk.

New York State has been going after tax evaders under an aggressive new tax collection program, suspending the driver’s licenses of 8,900 New Yorkers who failed to pay their state taxes and collecting over $56 million, 34 percent more than had been projected.

A federal court may allow the convicted former chief of a telecommunications company to deduct more than $44 million from his taxes after he was forced to forfeit the amount of stock gains he realized from insider trading.

Consumer finance site WalletHub has released a report on the states with the highest and lowest taxes.

The American Institute of CPAs has released a list of 10 suggestions for individual taxpayers and their preparers filing tax returns this season.

The sales process of many professional advisors is flawed.

The Tax Court has ruled against an accountant who tried to deduct a portion of his gambling losses from his taxes.

Most U.S.-based multinational corporations paid lower U.S. taxes on their domestic profits than they paid to foreign governments on their foreign profits, according to a recent study.

Entrepreneurs are the brightest, most focused and determined people I know. But it is also lonely for many of them.

Transition Advisors president Joel Sinkin discusses his new book on how accounting firms can execute a successful merger or acquisition, in an interview with Accounting Today editor-in-chief Daniel Hood.

The House Financial Services Committee has overwhelmingly approved bipartisan legislation that would remove a requirement for smaller public companies with less than $250 million in annual revenue from filing their financial statements in Extensible Business Reporting Language, or XBRL, format for five years.

Accounting Today is looking for speakers for its upcoming annual Growth & Profitability Summit.

This season is turning dangerous for tax preparers, according to published reports.