Practice Management

Nearly half the members of the U.S. Senate have signed a letter expressing concern about a tax reform proposal to require the use of accrual accounting and are urging the leaders of the Senate Finance Committee to preserve the option of the cash method of accounting for tax purposes.

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

President Barack Obama put the blame on accountants for the wave of companies doing tax inversions.

The owner of a New Jersey business has been sentenced to a year and a half in prison for willfully preparing false tax returns for clients.

In addition to overseeing the daily operation of their business, small business owners rely on accountants to provide guidance on how to comply with changing rules, regulations and laws on the state and federal level.

Nearly 80 percent of Americans feel vulnerable to tax scams, according to a new survey, but nearly 60 percent of the respondents said they do not know how to prevent or protect themselves from falling victim.

Walgreen Co., the biggest U.S. drugstore chain, said it plans to pay about $15.3 billion for the part of Alliance Boots it doesn’t already own, and won’t use the deal to move its tax address abroad. The shares fell.

President Barack Obama says U.S. corporations that adopt foreign addresses to avoid taxes are unpatriotic. His own administration helped one $20 billion American company do just that.

Some of our favorite recent tax fraud cases.

The U.S. Treasury Department is examining whether it has the authority to bypass Congress and curb corporate inversions, reversing the administration’s prior insistence that it lacked power to act.