Practice Management

The Senate Permanent Subcommittee on Investigations held a hearing Thursday to explore decisions by the Internal Revenue Service that have increased commodity speculation by allowing some mutual funds to use offshore shell corporations and complex financial instruments to circumvent longstanding Tax Code limits on mutual fund trading in commodities.

The Walmart Foundation has teamed up with the United Way and other nonprofits to offer free tax filing services, along with education on eligibility for the Earned Income Tax Credit and government nutritional assistance programs.

A pair of Massachusetts accounting firms, Walter & Shuffain, P.C., and Cooper & Company, P.C., have merged, effective January 1.

Tax executives are uncertain about the potential impact on their businesses of the “repair regulations” recently issued by the Internal Revenue Service, according to a new survey by KPMG.

Sage North America partner SWK Technologies Inc. has acquired the Sage accounts of Southern California-based Sage MAS 90, 200 and 500 reseller IncorTech, effectively adding nearly 150 clients and increasing its West Coast presence.

Tax software developer Greatland Corporation is offering some tips to businesses to help them manage W-2 and 1099 reporting.

IMGCAP(1)]The impact of the financial crisis and resultant recession, even if now officially ended, continues to be felt.

Gray, Gray & Gray LLP of Westwood, Mass., has merged in O’Toole & Company of Boston, effective Jan. 1.

Bank of America has begun offering financing to CPA firms to help them fund mergers and acquisitions, expand their facilities, buy equipment and software, and other purposes.

Southern accounting firm Carr, Riggs & Ingram LLC has expanded its footprint in Southern Georgia by merging in the local firm BowenPhillips LLP.