Tax practice

Preparers unsure of how to adjust their fees before next season can find a number of guides around the Internet, from current discussions by other preparers to fee guides from associations and recent reports on fees by the big chains.

The Internal Revenue Service Oversight Board has sent a letter to the leaders of Congress’s two tax-writing committees urging them to act swiftly to patch the Alternative Minimum Tax to keep it from spreading to millions more taxpayers.

Individual income tax return statistics by selected descending and ascending cumulative percentiles for Tax Years 2001 to 2010 are now available from the IRS.

CCH has introduced new mobile apps providing access to several of its journals and newsletters from the Apple iPad, along with a new app aimed at tax students.

Nearly 80 percent of business executives said they would be willing to accept the repeal of certain tax incentives in exchange for a lower overall corporate tax rate, according to a new report by KPMG.

CPA and tax preparer Jeffrey B. Travis has pleaded guilty to bank fraud involving a scheme to defraud US Bankcorp and five of his clients of more than $1.8 million.

Postcards can be an effective marketing tool during tax season if targeted precisely to existing clients and used to build brand recognition.

The Internal Revenue Service is allowing 401(k) and similar employer-sponsored retirement plans to make loans and hardship distributions to victims of Hurricane Sandy and members of their families, as part of the Obama administration’s efforts to bring all available resources to bear to support state and local partners affected by Hurricane Sandy.

President Obama met with congressional leaders at the White House on Friday to negotiate over the expiration of the Bush tax cuts and the looming problem of the so-called “fiscal cliff,” with the leaders agreeing that the meeting had been constructive.

Despite negative market sentiment due to concerns over the looming "fiscal cliff," many investors are unprepared for it, according to a recent survey by Nationwide Financial.

Bank of America Corp.’s commercial customers are already reacting to the “fiscal cliff” looming over the U.S. budget by putting off purchases, chief executive officer Brian T. Moynihan said.

The American Institute of CPAs has submitted comments to the Internal Revenue Service in support of its proposed regulations for clarifying the treatment of shareholder debt of S corporations.

The IRS is seeking public comment regarding guidance for entities that discharge indebtedness and may be required to furnish 1099-C returns.

Many military may be overpaying their state taxes, according to analysis done by The Tax Institute at H&R Block.

While tax experts are divided on the immediate future of tax rates as we approach the fiscal cliff (the combination of scheduled tax rate increases and spending cuts by the government), the consensus is that rates will indeed rise precipitously.

The IRS has launched a series of videos to help preparers register for Preparer Tax Identification Numbers and prepare for the Registered Tax Return Preparer test.

There were 62 percent more indirect tax changes worldwide in the third quarter of this year than during the same period last year, according to a new report.

A new report from one of the Internal Revenue Service’s main advisory panels says the IRS needs to expand its efforts to fight identity theft-related tax fraud, among other recommendations.

The option of allowing taxpayers to split up their tax refunds into different accounts has increased the risk of fraud, perhaps even among IRS employees, according to a new government report.

The Securities and Exchange Commission and the Department of Justice have released A Resource Guide to the U.S. Foreign Corrupt Practices Act, a 120-page guide providing a detailed analysis of the U.S. Foreign Corrupt Practices Act, including the accounting provisions, and closely examining the SEC and DOJ approach to FCPA enforcement.