Practice Management

The Taxpayer Advocate says the problem isn't what you think

List & Reamy and Colton & Williams, of Vero Beach, Fla., have agreed to merge.

I don’t know about you, but there’s nothing like blistering 90-degree days with high humidity and quick-forming violent afternoon thunderstorms to get your adrenaline going. Or going in the wrong direction.

Self-described conservative and Tea Party groups seeking tax-exempt status were asked more questions by the Internal Revenue Service and had longer delays than progressive organizations, according to an analysis by the House Ways and Means Committee.

Liechtensteinische Landesbank AG, a bank based in Vaduz, Liechtenstein, has agreed to pay more than $23.8 million to the United States and entered into a non-prosecution agreement with the U.S. Attorney’s Office for the Southern District of New York under which it produced account files of more than 200 noncompliant U.S. taxpayers.

Top 10 Firm BDO USA LLP announced that its revenue for the fiscal year ended June 30 was $683 million, an increase of 10.5 percent over the previous year’s revenue of $618 million.

These days you’re not likely to pick up an accounting publication or surf the blogosphere without coming across an article on portals, or more specifically, client portals for file sharing.

President Barack Obama, prodding Congress to consider fresh economic proposals after two years of gridlock, called for restructuring business taxes so long as the initial revenue generated goes toward job creation.

Even IRS agents can make simple mistakes in business, such as violating the old adage to “put it in writing.” Even so, the Tax Court in a recent case believed the IRS agent’s testimony regarding an oral contract she had with her mother-in-law.

The leaders of Congress’s two main tax committees continued their tax reform road show tour with a stop at a New Jersey small business that makes kitchen appliances.