Practice Management

A White House-appointed group of business, academic and labor leaders recommended corporate tax reforms and other measures to increase jobs and improve the economy.

Republican Presidential candidate Mitt Romney reversed course and, under pressure from rival candidates, said that he would release his tax returns, probably around April 15.

The Internal Revenue Service’s newest version of the Offshore Voluntary Disclosure Program is designed to give some reassurance to taxpayers who have been hesitating to come forward and disclose their foreign bank accounts, but the increasing complexities of U.S. tax law are leading more people to renounce their citizenship.

The American Institute of CPAs has partnered with the Fox Financial Planning Network, a financial services consulting firm in San Diego, to help CPAs add financial planning to their practices.

While the Internal Revenue Service is making gains in its processing capabilities due to increased electronic filing, the agency still needs to offer taxpayers more self-service tools, according to a new report.

The Internal Revenue Service said Tuesday that its Modernized e-File, or MeF system successfully opened this morning at 9:00 am Eastern Time and is now operational for individual tax returns and extensions.

Smolin Lupin & Co. of Fairfield, N.J., has merged with McKinley White & Co., LLP of Paramus, N.J., expanding the firm’s services in the not-for-profit, education and transportation sectors.

The Government Accountability Office has provided Congress with a guide for screening and assessing proposals to disclose confidential tax information to specific parties for certain purposes.

The Internal Revenue Service has issued a notice that provides transitional relief from information reporting requirements for issuers of stock with respect to organizational actions that affect the basis of the stock.

President Obama proposed Friday to consolidate six major federal departments and agencies that oversee various aspects of business in the U.S., including the Commerce Department and the Small Business Administration.