Practice Management

Google Inc. avoided about $2 billion in worldwide income taxes in 2011 by shifting $9.8 billion in revenues into a Bermuda shell company, almost double the total from three years before, filings show.

Walthall, Drake & Wallace LLP added Frank, Seringer & Chaney Inc., of Amherst and Wooster, Ohio, to its practice.

Microsoft Dynamics Master VAR SBS Group has added technology consultant and Dynamics GP, AX, and CRM reseller Enterprise Resources Technology (ERT Group) to its Partner Network.

CCH has issued a new tax briefing explaining the Internal Revenue Service’s proposed regulations on the Additional Medicare Tax and Net Investment Income Tax that will take effect in January as a result of the health care reform law.

As Democrats demand tax concessions from Republicans to avert a collision over the federal budget, Senate Democratic leaders are signaling that they may be willing to trade an entitlement spending overhaul to secure a deficit- reduction deal.

The Internal Revenue Service and the Treasury Department have issued a set of proposed regulations on the 3.8 percent Net Investment Income Tax that takes effect next year as a result of the health care reform law, along with a FAQ page with questions and answers.

The American Institute of CPAs has written a letter to the Internal Revenue Service and the Treasury Department asking for changes in proposed regulations for tax practitioners.

It looks like U.S. dealmakers may have their hands full with M&A transactions next year.

Failure by Congress to act on the alternative minimum tax by year’s end will lead to “significant” delays in tax filing and a strain on taxpayers, said Steven Miller, the Internal Revenue Service’s acting commissioner.

President Barack Obama again warned lawmakers that the U.S. economy will suffer unless there’s an agreement on a way to prevent more than $600 billion in automatic spending cuts and tax increases from taking effect.