Practice Management

The House voted to repeal the 2.3 percent excise tax on medical devices and another provision from the health care reform law that prevents holders of health savings accounts from buying over-the-counter medicine without a prescription.

Compliance professionals around the world say they are not ready to handle the demanding requirements of the Foreign Account Tax Compliance Act, according to a new survey.

Here are the areas where a CPA firm could be most useful to retail companies:

A pair of Republican senators have introduced a bill aimed at providing a long-term fix for the expected hike in student loan interest rates.

Rep. Sander Levin, D-Mich., said Wednesday that he plans to introduce a bill to provide tax breaks for small businesses that hire new employees or increase wages as a substitute for a bill being pushed by House Republicans to repeal the medical device tax in the health care law.

With the expiration of the current tax rates approaching at the end of the year, and a deep round of spending cuts looming, a new report sheds light on what effect that would have on the economy and the nation’s debt levels.

The Internal Revenue Service is encouraging tax preparers to take a new competency exam as soon as possible.

A judge has thrown out the convictions of former BDO Seidman chairman and CEO Denis Field and two attorneys who were convicted last year of tax fraud, calling one of the jurors a pathological liar who had falsified her background and tainted the trial.

In an effort to "jumpstart" the U.S. economy and create more jobs, both the House and the Senate passed the Jumpstart Our Business Start-ups (or JOBS) Act, and President Obama signed the JOBS Act into law.

Ginny Hopkins, a waitress who has worked for nearly two decades at a Cleveland restaurant, received a tax refund check for $434,712 in the mail from the Internal Revenue Service instead of the $754 she had been expecting.