Practice Management

The Internal Revenue Service expanded nationwide on Wednesday the rollout of its streamlined Fast Track Settlement program, which aims to help small businesses under audit settle their differences with the IRS over their tax debts more quickly.

A bipartisan bill has been introduced in the Senate with the goal of simplifying income tax collections for taxpayers who work in multiple states.

A pair of senators have introduced bipartisan legislation that would rescind tax write-offs for illegal corporate behavior in an effort to hold corporate wrongdoers accountable.

Rep. Dave Camp, R-Mich., chairman of the tax-writing House Ways and Means Committee, has written a letter to Internal Revenue Service acting commissioner Danny Werfel urging the IRS to disclose all the information it has available to date on the eligibility determinations it has made for individuals who have applied for premium tax credits in the health insurance exchanges that went online last month under the Affordable Care Act.

The Internal Revenue Service does not always identify potentially mistaken claims for General Business Credits when processing tax returns, according to a new government report that found unsupported claims for the credits totaling $1.3 billion for 2011.

McGladrey LLP has signed a definitive agreement to acquire substantially all the assets of Houston-based Margolis, Phipps & Wright PC.

Hanna McGlone & Co. has agreed to join Smart Devine.

Angie Grissom, president of The Rainmaker Companies, talks about how accounting firms can be more like successful rock bands, in an interview with managing editor Tamika Cody during Accounting Today's Growth & Profitability Summit in Orlando.

Beck & Co. LLC has agreed to merge with Berdon LLP.

CBIZ Inc. has acquired the non-attest assets of Denver, Co-based Knight Field Fabry LLP.