Practice Management

Captive insurance companies, once the exotic plaything of large corporations, are now open and advantageous to much smaller companies. But most accountants don’t know enough about captive insurance companies to advise their business clients on the advantages of starting their own, according to Brian McCormick and Jerry Messick of Elevate Captives LLC.

For some companies that got a temporary reprieve from the IRS in the height of the recession, the payback isn’t going to be as bad as they expected.

The Internal Revenue Service’s inspector general told Congress he’s “disturbed” that he didn’t receive until this month a July 2010 document that mentioned scrutiny of “progressive” nonprofit groups.

CCH said it has been selected for the ninth straight year by the Internal Revenue Service to deliver sales tax rate and taxability tables to help millions of Americans prepare their tax returns.

Everyone is talking about moving to the cloud as though you can just snap your fingers and suddenly change everything from software to workflow to paperless systems. But the reality is that getting completely to the cloud, no matter how compelling, will take a while.

Intuit has purchased Australian-based online accounting practice management software maker Fifo for an undisclosed sum.

A California businessman has pleaded guilty to concealing a foreign bank account at an Israeli bank on his 2007 tax return.

Acumatica has launched a campaign to add new reseller partners by mailing out a pair of “flip flop” sandals complete with a URL to the registration site for the company’s upcoming partner conference.

A former Internal Revenue Service employee was sentenced in a Manhattan federal court to three years of probation for violating a criminal conflict of interest law and to illegally disclosing confidential audit information during the time he was an IRS employee.

The Taxpayer Protection Program that the Internal Revenue Service implemented in an effort to curb the problem of identity theft-related tax fraud is improving the IRS’s efforts at detecting identity theft, but the case-processing controls need to be strengthened to reduce the burden on taxpayers victimized by identity theft, according to a new government report.