Practice Management

Americans who have been evading taxes through Swiss bank accounts are being advised by tax lawyers to come forward before the Justice Department steps up its own pursuit in response to Senate critics.

(Bloomberg) Ernst & Young LLP was accused by the U.S. of failing to comply with an Internal Revenue Service request for documents in an investigation of the tax liability of the billionaire chairman of industrial-bearing maker Schaeffler AG.

Quite often in a CPA firm, the term “manager” gets lost in the shuffle of accountability.

The IRS has unveiled new depreciation deduction limitations for passenger automobiles (including trucks and vans) first placed in service during 2014.

House Ways and Means Committee chairman Dave Camp, R-Mich., has released his long-awaited draft legislation on tax reform, to mixed reviews.

Credit Suisse Group AG helped American customers hide as much as $10 billion in assets from the Internal Revenue Service, more than double the amount previously known, according to a U.S. Senate committee report.

A whistleblower’s $6.8 million in awards must be taxed as ordinary income, a U.S. Tax Court judge ruled, rejecting arguments that the money should be recognized as capital gains and subject to a lower rate.

How many times have you heard someone say, “Mind your own business?” For accountants, especially in these economic times, that just may be sage advice.

Grant Thornton has released a set of tax season tips for both individuals and businesses.

About 52 percent of Americans intend to spend their annual tax refund on necessary expenses such as loans, credit cards and other household expenses, while another 30 percent plan to put the money into savings and only 8 percent plan to invest the tax refund money, according to a new survey.