Practice Management

Highlights of firm mergers & acquisitions from the previous month

Accounting firms shouldn't think that there isn't a cost to a merger that doesn't happen

Many tax practitioners focus on improving their efficiency during tax season, but there are plenty of things they can do in advance to ensure success from January to April, according to 2020 Group chairman and CEO Chris Frederiksen.

The Internal Revenue Service has released its annual update identifying the circumstances under which the disclosure on a taxpayer's income tax return with respect to an item or a position is adequate for the purposes of reducing the understatement of income tax and avoiding the tax return preparer penalty.

With the alternative minimum tax still unpatched for this year and estimated to spread to an additional 28 million households next tax season unless Congress acts to avert the fiscal cliff, newly released statistics from the Internal Revenue Service reveal that even the patched AMT hit millions more households in 2010 than in 2009.

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