Practice Management

An Internal Revenue Service employee who owned a Sears Hometown Store on the side has pleaded guilty to concealing records in a U.S. Department of Labor investigation of his retail employees’ wages and hours.

The House passed Republican-sponsored legislation Thursday to streamline congressional procedures and pass comprehensive tax reform next year.

The Senate Finance Committee approved legislation Thursday extending dozens of tax cuts known as tax extenders, including the alternative minimum tax patch, which have either expired or are scheduled to expire at the end of the year, while paring back approximately 25 percent of the traditional tax breaks in the name of tax reform.

There were nearly four times the number of changes in indirect taxes such as sales and use taxes and value-added taxes around the world in the second quarter of this year, compared to the same period last year, according to a new report.

Identity theft is having a much larger impact on tax administration than the amount the Internal Revenue Service detects and prevents, according to a new report.

When a business owner searches for an accountant, the choice is not so simple. Financial services—despite what some of your tax-only clients may believe—is far from a commodity. And in many cases, location and even price are immaterial. What, then, is the best way to acquire clients and improve client retention?

Senator Marco Rubio, R-Fla., has introduced legislation to exempt U.S. Olympic medal winners from paying taxes on the medals that they win.

The House voted Wednesday to approve a Republican-sponsored bill to extend the current tax rates for all income levels for an additional year, rejecting the Democratic alternative passed by the Senate last week that would have only extended the tax cuts for household incomes under $250,000 a year.

A Senate committee held a hearing Wednesday to discuss legislation requiring Internet retailers to charge their out-of-state customers sales taxes.

An Arizona accountant who pleaded guilty to preparing a false tax return was sentenced to three years’ probation.