Practice Management

The Internal Revenue Service and the Treasury Department have released their 2012-2013 priority guidance plan outlining 317 projects that they plan to prioritize from July 2012 to June 2013 in providing guidance and regulations to tax practitioners.

Eide Bailly LLP has acquired the Littleton, Colo.-based boutique tax firm Clark & Srsich LLC. The firm’s newest addition will provide services from the firm’s Golden, Colo., office.

The National Society of Accountants has called on the IRS to immediately revise the Circular 230 provision that states that tax preparers may not give tax advice that is not directly related to prepared tax returns.

Congressional Republicans dug in to fight President Barack Obama’s plan to skirt the fiscal cliff, rejecting his tax-and-spending proposal as the president heads out today to sell it to the American public.

What to do when your clients receive one of the IRS’s four new business income under-reporting letters

The IRS has updated procedures to strengthen the Individual Taxpayer Identification Number program requirements.

The Income Tax School has launched a Web site of more than 70 tax courses and products, plus many free resources for tax professionals. ITS said the move was in response to the new IRS regulations for tax preparers and the corresponding growing demand for tax education.

Two lucky winners in Arizona and Missouri will be able to claim the record-shattering $580 million Powerball jackpot after Wednesday night’s drawing, but they will also face taxes and need financial advice.

Last week I moderated an Accounting Today Web Seminar on Tax Office Workflow.

President Barack Obama urged middle-class families who are in danger of seeing their taxes go up next year to begin using Twitter and other forms of communication to urge lawmakers to extend tax cuts for the middle class.