Practice Management

The Internal Revenue Service released its annual list Thursday of the “Dirty Dozen” tax scams that taxpayers should be aware of this year, particularly during tax season.

Open-source accounting and enterprise resource planning software developer Open Systems Inc. has acquired its longtime reseller InterMicro, effectively retaining all of its staff and two offices in Greenville, S.C., and Edmond, Okla.

IRS Commissioner Doug Shulman warned tax executives that they face substantial tax risks from uncertain tax positions, international enforcement efforts, and impermanent tax credits that expire every year or two.

Presidential candidate Rick Santorum released four years’ worth of his joint income tax returns with his wife Karen, showing the former senator had adjusted gross income of nearly $1 million in 2010.

Lawmakers negotiating over the payroll tax cut extension said they have agreed on a deal to extend the 2 percentage point cut in Social Security and Medicare withholding taxes through the rest of the year, along with unemployment benefits and the “doc fix” to prevent Medicare reimbursements to physicians from being cut.

The Internal Revenue Service has updated its rules for how its Office of Appeals is allowed to communicate with other parts of the IRS when a taxpayer or the taxpayer’s representative is not present.

The Internal Revenue Service offered advice Wednesday to unemployed taxpayers on how they and their tax preparers should report unemployment benefits on their tax returns.

U.S. lawmakers reached a tentative deal on Tuesday on legislation aimed at boosting the economy by extending a payroll tax cut for 160 million workers through this year and continuing long-term jobless benefits, congressional aides said.

CCH has introduced CCH Integrator, which combines the company’s tax research products with other tax compliance products for multinational corporations.

Treasury Secretary Tim Geithner told a Senate panel that the Obama administration plans to introduce a series of proposals to reform the corporate tax laws.