Practice Management

The Internal Revenue Service has made progress in deploying its Modernized e-File system, according to a pair of new government reports, but unresolved performance issues are hampering the retirement of its older legacy systems for processing tax returns.

With tax cuts galore expiring at the end of the year, and steep cuts in both defense spending and discretionary spending on the horizon, Democrats and Republicans in Washington are doing a complicated dance at the edge of the so-called fiscal cliff.

The head of the Internal Revenue Service told lawmakers that if Congress fails to extend the traditional patch for the Alternative Minimum Tax, approximately 60 million Americans could be affected and about 33 million taxpayers could pay the AMT for tax year 2012.

Business intelligence service provider iLumen has hired former American Express vice president of digital partnerships Rob Ganjon to be its new chief executive officer.

Employers are picking up the pace on implementing the provisions of the Patient Protection and Affordable Care Act after a long delay, according to a new survey by accounting and consulting firm CliftonLarsonAllen.

White House officials have quietly lobbied Wall Street and the business community over the last several months to support President Barack Obama’s plan to impose higher taxes on the wealthy to cut the deficit and avert going over the fiscal cliff.

A Thomson Reuters tax analyst is offering end-of-year tax-planning tips for U.S. corporations, detailing various options based on possible legislative actions in Congress.

Now that the October 15 tax deadline has passed, many CPAs are turning their attention to the major changes put in place under the IRS’s new “repair vs. capitalization regulations.”

PwC US has acquired the IT and program management consulting firm, Ray Group International LLC, for an undisclosed sum. The deal closed on Nov. 6, 2012.

BCG Systems director of networking services Ken Klicka explains why if you aren't prepared to address the cloud computing wave with your clients, you'll soon be left behind.