Practice Management

The Third Circuit Court of Appeals has affirmed the Tax Court on an appeal arising out of nine consolidated cases regarding the tax implications of an S Corporation’s election to treat its subsidiary as a qualified subchapter S subsidiary, or Qsub, under Section 1361 of the Tax Code.

Thomson Reuters has released a tax act overview and monthly client marketing newsletter focused on the Affordable Care Act that tax, accounting and employee benefits firms can provide to clients, prospects and other contacts.

Democrats in the House and Senate introduced legislation Tuesday to tighten the restrictions on corporate tax inversions, limiting the ability of U.S.-based companies to avoid U.S. taxes by combining with a smaller foreign business and moving their tax domicile overseas.

Clark Schaefer Hackett has added the Columbus-based firm Schoonover Boyer + Associates to its firm. The new addition gives CSH’s Columbus office 87 associates, which brings the total staff to 394.

The Internal Revenue Service needs to better adhere to requirements to justify and document noncompetitive contract awards, according to a new report.

The International Ethics Standards Board for Accountants has released for public comment an exposure draft on proposed changes to certain provisions of the ethics code related to non-assurance services for audit clients.

Credit Suisse AG agreed to pay $2.6 billion in penalties and pleaded guilty to helping Americans cheat on their taxes, making it the first global bank in a decade to admit to a crime in a U.S. courtroom.

The formula for profitability has been established for ages. Every business owner, CEO, freelancer and entrepreneur knows it. It is even supported—scratch that, mandated—by GAAP, which is enforced by the SEC in the United States.

The Association for Accounting Marketing and Hinge Research Institute have released a study that examines overall marketing spending at accounting firms, including compensation for marketing staff, the top five spending categories, and detailed budget breakdowns by firm size and market location.

Grant Thornton has expanded its presence in the United Kingdom, Australia, Canada, Cyprus and the Isle of Man.