Practice Management

The Internal Revenue Service is warning tax professionals that starting October 1, it will no longer accept paper-based applications to become electronic filing providers.

A new report from a Treasury watchdog revealed that federal agencies owe approximately $14 million in unpaid taxes.

Preparers’ reactions range from annoyance over spam to concern over online privacy as they’ve learned that the IRS is publicly releasing some of the information it collects as part of its Preparer Tax Identification Number registration.

Taxpayers can generally deduct ordinary and necessary expenses for conducting a trade or business or for the production of income.

Tax services firm Ryan has signed an agreement to acquire the Thomson Reuters Property Tax Services business.

The Internal Revenue Service Statistics of Income Division has released its 2012 Summer SOI Bulletin, with a number of articles based on the most recent data available from various returns filed by U.S. taxpayers.

The Treasury Inspector General for Tax Administration, in an audit to assess the IRS management of the Electronic Federal Tax Payment System, found that business taxpayers were effectively transitioned to electronic payments, but were not always timely contacted when payments were missed.

CPACA Leadership Study Says Communication Key, Integrity Essential

The top personal income tax area of concern for technology executives that CPA Bill Melton of the Silicon Valley accounting firm Abbott, Stringham & Lynch sees in his client base is equity compensation.

The N.J. firm expands its offerings into a new niche with the acquisition of McGonigle & Co.