Practice Management

In a new ruling, the Tax Court has held that accounts receivable constituted related party debt under Code section 965(b)(3), and therefore part of the deduction claimed by the taxpayer, BMC Software, Inc., was disallowed.

In response to a recent government report, the IRS will be improving its procedure for determining and enforcing penalties on paid tax preparers.

A former Commerzbank AG and Societe Generale SA banker admitted in a U.S. court to aiding Olympus Corp.’s $1.7 billion accounting fraud.

The Internal Revenue Service has completed work on 91 of 132 applications for tax-exempt status from politically oriented groups and approved 70 of them, the agency’s acting commissioner said.

A married couple from Iowa and a Nevada accountant have been charged with conspiring to defraud the IRS of over $700,000 through a scheme in which they allegedly used nominee corporations and nominee bank accounts to hide their income and other assets.

The IRS Chief Counsel plans to take steps to minimize the risk of outside influence by tax practitioners on its letter rulings, according to a new report from the Treasury Inspector General for Tax Administration.

Republican leaders of the House Judiciary Committee released a set of principles Wednesday for taxing Internet sales, offering the first tentative move toward compromising on legislation passed by the Senate earlier this year that has not yet advanced in the House.

Microsoft Dynamics Master VAR SBS Group has added Dynamics ERP and CRM reseller EHTC Technology Group to its growing partner network.

Kat Morgan will check a “married” box on her federal tax return next year for the first time since her 2009 wedding, now that the Internal Revenue Service will recognize same-sex marriages no matter where couples live.

Many accounting firms tout their “excellent customer service” as what sets them apart from competitors, but if everyone is bragging about the same thing, are they truly unique?