Practice Management

The IRS has issued procedures in Revenue Procedure 2012-43 concerning under what circumstances a frivolous tax submission penalty would be reduced. The procedure also details how a taxpayer may request a reduction in the penalty, which is assessed under Code Sec. 6702(a) or Code Sec. 6702(b), and the eligibility requirements for reduction.

The IRS is now sending letters to preparers who are suspected of filing inaccurate EITC claims.

The Internal Revenue Service needs to improve its efforts in investigating whether its own employees are inappropriately accessing taxpayer data, according to a new government report.

Jina Etienne, director of taxation at the American Institute of CPAs, talks with Accounting Today managing editor Tamika Cody about what firms can do to stay competitive and grow in today's economy.

Jackson Hewitt Tax Service wants preparers and their clients to be aware of key disaster-related tax considerations in the wake of Superstorm Sandy.

John Wiley & Sons has acquired Efficient Learning Systems, an e-learning system provider that specializes in professional finance and accounting, for $24 million.

The Internal Revenue Service is taking issue with a new report from the Treasury Inspector General for Tax Administration that faults the IRS for taking longer than expected to upgrade its computer systems to allow the use of SmartID cards for improved security.

Transition Advisors president Joel Sinkin discusses succession planning for accounting firms and how they can prepare for mergers.

Federal, state and local authorities have issued various forms of tax relief for those affected by Hurricane Sandy last week.

The H&R Block blog offers several tips for tax preparers to help clients recover from the devastation of Hurricane Sandy.