Practice Management

The Internal Revenue Service was unable to keep up with demand for telephone and correspondence services last tax season despite efficiency gains from processing more tax returns electronically, adding Web services, and shifting resources away from enforcement, according to a new government report.

The U.S. has signed six more intergovernmental agreements with a half dozen jurisdictions, including several traditional offshore tax havens, to implement the Foreign Account Tax Compliance Act, or FATCA.

Last tax season marked an increasing level of noncompliance by tax preparers with the Internal Revenue Service’s due diligence reporting requirements for the Earned Income Tax Credit, according to a new report reviewing the IRS’s performance during the delayed tax season.

CCH, a part of Wolters Kluwer, has released the 2014 edition of its U.S. Master Tax Guide.

Chattanooga-based Top 100 Firm Decosimo has merged with Larry Hyatt & Associates boosting its state and local tax expertise.

The Internal Revenue Service announced today that the 2013 tax season will start on January 31, and encouraged taxpayers to e-file or use the Free File service to get their refunds more quickly.

Although federal law prohibits agencies from contracting with businesses that have unpaid federal tax liabilities, more than 1,100 vendors doing business with the IRS owe a combined $589 million in federal tax debt.

When it comes to next tax season, tax preparers’ biggest concerns all revolve around lateness.

KPMG will acquire the analytical applications company Link Analytics LLC, with the intent of expanding the U.S. audit, tax and advisory firm’s data and analytics capabilities.

Mark Twain once said, “The report of my death was an exaggeration,” upon learning that a newspaper carried his obituary. Talk about a bad way to start your day!