Practice Management

Ten multinational U.S.-based corporations, including Apple, Merck, Microsoft and Pfizer, each increased their foreign profits by $5 billion or more last year, continuing a trend in which U.S. corporations held more of their money in low-tax countries.

House Republicans and Senate Democrats are introducing competing budget plans with starkly different tax proposals.

The chairman of the tax-writing House Ways and Means Committee, Dave Camp R-Mich., released a set of proposals Tuesday discussion draft aimed at reforming the tax laws for small businesses.

The Internal Revenue Service has programs that are supposed to improve its ability to identify taxpayers who represent a potential danger to IRS employees, but many IRS employees are unaware that such protections even exist, according to a new government report.

A federal court has denied for a second time H&R Block’s attempt to prevent Intuit from airing two TV commercials for TurboTax that poke fun at part-time tax preparers who work for retail tax chains like Block.

The IRS recently made it clear that even if taxpayers engage a third party to perform a cost segregation analysis, they cannot avoid penalties for aggressive positions taken in the cost segregation report.

The former manager of an H&R Block outlet pleaded guilty Monday to charges that he used the identities of his former tax prep clients to file false tax returns seeking fraudulent tax refunds.

The Internal Revenue Service is reminding tax practitioners that they cannot electronically file Form 8839, Qualified Adoption Expenses, this year, but instead must mail the forms to the IRS.

DiBenedetto & Company PA combines its practice with the Hampstead, N.H.-based Olbricht Storniolo Group LLC, CPA’s and Business Advisors.

A law firm representing a trio of independent tax preparers has filed a strongly worded response to the Internal Revenue Service’s motion for a stay on a judge’s ruling that invalidated the IRS’s testing and continuing education requirements for tax preparers.