Practice Management

During the recent Microsoft Convergence 2013 user and partner event we caught up with Jim Bowman, president and chief executive of SBS Group and inquired about their status as a top reseller, Master VAR and the state of the reseller partner profession in general.

The Internal Revenue Service has stepped up its examinations in the past year of taxpayers with high adjusted gross incomes, according to newly released IRS figures.

Decosimo has acquired the Huntsville, Ala.-based cost accounting and federal compliance solutions group Solvability.

BlumShapiro has partnered with corporate performance management(CPM) software provider Tagetik to make CPM support services available to their client base across the United States.

The U.S. has asked Liechtenstein to hand over data on foundations that may have been used to hide untaxed American money from the Internal Revenue Service, a step that may threaten Swiss banks.

Back in 1925, a taxpayer won the first case in the Board of Tax Appeals involving the deduction for horse-breeding activity expenses. Deducting expenses related to the “sport of kings” was so attractive that the estate of Cornelius Vanderbilt tried, and lost, two years later. In the intervening 88 years, about 200 taxpayers have litigated the issue, most with unattractive results. The IRS and the courts have essentially told taxpayers to “stop horsing around.”

The Senate narrowly passed a budget for the first time in four years on a mostly party line vote, calling for $975 billion in additional tax revenue over the next 10 years along with state sales tax collections on online sales.

Bowing to pressure from Congress and media outlets, the Internal Revenue Service has released a pair of campy parody videos of Star Trek and Gilligan’s Island, while admitting that the $60,000 spent to produce the videos could have been better spent.

The House Ways and Means Select Revenue Measures Subcommittee held a hearing this week to discuss possible tax reforms on financial products such as derivatives.

Large companies frequently cannot achieve their cost reduction targets because they keep focusing on the same business areas every year even if they don’t deliver the savings they once did, according to a new report from Deloitte.