Practice Management

The Internal Revenue Service issued a reminder Thursday to U.S. citizens and resident aliens, in addition to dual citizens, that their tax-filing deadline is approaching.

The first round of congressional hearings on the Internal Revenue Service’s scrutiny of small-government groups didn’t reveal the people who started that practice or provide clearer answers on why they did it.

A pair of lawmakers have introduced legislation to end a tax break that favors foreign-controlled insurers over U.S. insurers.

A post-implementation review of the Financial Accounting Standards Board’s business combinations standard found lingering questions in the minds of some investors, particularly about fair value, despite improvements in the usefulness of the information.

Understanding the detailed requirements of the health care reform law, and the potential penalties of noncompliance presents, challenges to accountants who are trying to advise their business clients about the Affordable Care Act.

The largest single variable in housing tax credit pricing is a function of the Community Reinvestment Act’s investment test value of a given property’s location, according to a new report.

Lois Lerner, the mid-level Internal Revenue Service official at the center of a controversy over the agency’s scrutiny of small-government groups, will invoke her constitutional right not to testify before Congress, according to a letter from her lawyer.

A group of CPAs headed to Capitol Hill yesterday in what has become an annual ritual as they pressed lawmakers to deal with the many issues that accountants and their clients are forced to wrestle with on a daily basis, including taxes and regulations.

Douglas Shulman, the former commissioner of the Internal Revenue Service, said he was “dismayed” and “saddened” to learn that IRS employees had singled out small-government groups for tougher scrutiny.

Following the massive tornado in Oklahoma, the IRS has provided tax relief to individuals and businesses affected by this and other severe storms occurring in parts of that state.