Practice Management

Farmers and ranchers who have been forced to sell livestock as a result of the drought currently affecting much of the nation now have an extended period of time in which to replace the livestock and defer tax on any gains from the forced sales, the Internal Revenue Service said Tuesday.

For tax professionals and paid preparers in particular, an item that should be of growing concern over the past few years has been preparer penalties.

Tax practices make some fundamental mistakes in their marketing -- but they can correct them, according to Chuck McCabe, CEO of The Income Tax School Inc.

Three defendants involved in a stolen identity refund fraud scheme have been sentenced in the Middle District of Alabama, according to the Department of Justice.

A bill requiring federal agencies to place new controls on government charge cards and enforce more stringent penalties for violations by federal employees is on its way to President Obama for his signature, following final passage by Congress over the weekend.

PricewaterhouseCoopers has completed the acquisition of substantially all of the assets of Ant’s Eye View, a social media strategy development and consulting firm.

The Internal Revenue Service would be able to save more than $111 million in real estate rental costs over the next five years by requiring employees to share their work space if they often work remotely, according to a new government report.

Kentucky’s largest CPA firm, Mountjoy Chilton Medley, is planning to combine with McCauley Nicolas, the largest Southern Indiana accounting firm in the Louisville metropolitan area.

I speak with many executives who, when asked about whether or not they have an anti-fraud hotline in place, respond, “We don’t need an anti-fraud hotline; I know what goes on in my company.”

Accounting and professional services firm Kolb+Co. has recently launched a new blog, The Kolb+Co Element.