Practice Management

As companies continue to experience an increase in the frequency of tax-related audits, due to sales and use tax complexity, new levels of enforcement and other factors, they are experiencing a corresponding impact on the efficiency of their tax departments.

The Tax & Accounting business of Thomson Reuters has acquired BizActions, expanding the company’s marketing services.

A bill advertised as creating jobs at small businesses and increasing their access to capital from the public markets would also knock down many of the auditing controls protecting investors.

The Internal Revenue Service is staffing up with high-powered talent to crack down on companies shifting profits from country to country to lower their tax bills, a hot strategy the agency has targeted before with only limited success.

House Budget Committee chairman Paul Ryan, R-Wisc., has introduced a Republican-backed alternative to the Obama administration’s fiscal 2013 budget, including a proposal to consolidating the current six individual income tax brackets into just two brackets of 10 and 25 percent.

Tax resolution chain TaxMasters has filed for Chapter 11 bankruptcy protection.

A former Internal Revenue Service revenue agent has been sentenced to nearly three years in prison for his involvement with a scam that bilked investors out of more than $8 million by persuading them to buy unregistered securities in various Internet companies.

The Internal Revenue Service has proposed regulations that would require taxpayers with Employer Identification Numbers to periodically provide the IRS with up-to-date information.

Only 16 percent of tax and finance departments are actively involved in corporate sustainability efforts, according to a new survey by Ernst & Young.

The Internal Revenue Service needs to do a better job of documenting whether it completed all of the necessary pre-screening steps before hiring new employees, according to a new government report.