Practice Management

Stephen Mankowski CPA of Hatboro, and Edward Caine of Bryn Mawr, Penn., agreed to merge their practices after becoming friends through their respective leadership positions in the National Conference of CPA Practitioners.

Early on my boss took me to a client that I was to work on. He started to explain what needed to be done and what the client did, but then he said, “I hate this client—everything is always messed up and nothing ever makes sense.”

Six former Internal Revenue Service employees have pleaded guilty to receiving unemployment benefits while they worked at the agency.

KPMG LLP and Rothstein Kass, a leading professional services firm in the hedge fund industry, have entered into an agreement to merge. Terms of the deal are undisclosed and it is expected to wrap up in a few weeks.

For tax preparers who were somewhat dismayed by the recent IRS statistics indicating a slight drop-off in the number of taxpayers who were using a professional to prepare their taxes as opposed to do-it-yourself tax software, take heart.

The push for a corporate tax holiday to encourage repatriation of an estimated $2.1 trillion in foreign profits seems to have gained traction again, thanks to a recent proposal from former President Bill Clinton, but such an idea could provide multinational companies with the incentive for earnings manipulation, according to a new study.

The IRS has issued a pair of one-page electronic publications containing information for individuals and families about the Affordable Care Act.

(Bloomberg) The U.S. House Ways and Means Committee voted to let companies write off more than half the cost of some investments immediately, providing a $287 billion tax cut to capital-intensive industries.

A federal jury found an 87-year-old Florida man owes the U.S. government civil penalties amounting to 150 percent of the value of his Swiss bank account, the biggest such penalty by percentage on record, his lawyers said.

Employers owed the Internal Revenue Service approximately $14.1 billion in delinquent Social Security, Medicare and individual federal income taxes that they had withheld from employee paychecks as of June 30, 2012, and the Internal Revenue Service is being urged to do more to assess penalties against them.