Practice Management

Steve Erickson of Steve Erickson LLC and Philip Whitman, CPA, of Whitman Business Advisors LLC have combined forces to form Erickson Whitman LLC, a consulting company exclusively serving CPA firms nationwide.

A representative of the American Institute of CPAs told the Internal Revenue Service that the temporary proposed regulations governing the deduction and capitalization of tangible property expenditures are too complex for many taxpayers.

The Internal Revenue Service’s Whistleblower Program Office has still not addressed several problems that were brought to its attention several years ago, according to a new government report.

IMGCAP(1)]The subprime mortgage crash of 2008 created a landslide of foreclosures and short sales which could persist for many years. A whole new industry in short sales has sprung up. All this has left taxpayers and their advisors scrambling for answers on the correct tax consequences.

Baerson Witonski Berkowitz & Rubin LLC is merging its practice into Mowery Schoenfeld, LLC, headquartered in Lincolnshire, Ill.

The Internal Revenue Service is helping law enforcement authorities crack down on drug dealers in the Southern California area.

Banking executives are predicting that the majority of banks will miss the deadlines for complying with new requirements under the Foreign Account Tax Compliance Act for reporting on foreign bank accounts and assets held by U.S. taxpayers.

A pair of Democratic lawmakers have introduced a bill aimed at reducing taxes for businesses that move jobs back to the U.S.

Edvard Munch, the painter of “The Scream,” was no big fan of the Norwegian tax authorities.

A bipartisan group of lawmakers have introduced legislation that would increase the penalties on tax preparers who defraud taxpayers and the Internal Revenue Service by altering tax returns for personal benefit without their clients’ knowledge.