Practice Management

Taxpayers will receive some tax relief next year, thanks to the Internal Revenue Service’s inflation-adjusted indexing provided under the Tax Code, according to estimates from CCH.

The Internal Revenue Service has issued new guidance and streamlined procedures for spouses who are seeking equitable relief from joint income tax liability.

The Internal Revenue Service said Tuesday that its Office of Professional Responsibility has prevailed in seeking the disbarment of David O. Christensen after he was convicted of theft for misappropriating funds as the conservator of his daughter’s trust account. Christensen’s CPA licenses in Washington and Oregon had been revoked previously as a result of his conviction.

Tax enforcement revenue collected by the Internal Revenue Service has declined for the second straight year, according to a new report publicly released Tuesday by the Treasury Inspector General for Tax Administration.

The IRS is providing tax relief to individual and business taxpayers impacted by severe storms, flooding, landslides and mudslides in Colorado.

The IRS issued the final Tangible Property Repair Regulations for Sections 162(a) and 263(a) last Friday, modifying and superseding the temporary regulations that were issued on Dec. 23, 2011.

The Internal Revenue Service’s estimate of the so-called “Tax Gap,” the difference between taxes owed and taxes paid voluntarily and on time, needs to be more accurate, reliable, comprehensive and timely, according to a new government report released to the public Monday by the Treasury Inspector General for Tax Administration.

Thomson Reuters has released the FATCA Essentials library as part of its Checkpoint online research service, providing information on the Foreign Account Tax Compliance Act.

Sikich LLP has agreed to merge with the St. Louis-based firm O’Donnell, Bonebrake & Co.

The Internal Revenue Service is providing guidance on the application of the market reform provisions of the Affordable Care Act to health care arrangements such as health reimbursement arrangements, employer payment plans and flexible spending accounts.