Practice Management

The 280 most profitable U.S. corporations are sheltering half their profits from federal income taxes, and 30 of them paid less than zero in the last three years, according to a new study.

IMGCAP(1)]Accounting firms typically have multiple partners, some of whom may want to retire or move on in the near future, and others who want to stay longer.

Greatland, a provider of W-2 and 1099 tax information reporting software, has issued a guide to help tax preparers navigate the tax changes enacted into law this past year.

The Internal Revenue Service needs to do a better job of managing the credit cards used by employees in the IRS’s Small Business/Self-Employed Division when they are visiting gas stations to enforce fuel excise tax laws.

CPA and business advisory firm Henry & Horne has acquired the Phoenix-based practice of Mazza, Spero, Hougham & Schultz, effective November 1.

CPA wealth management firm Glass Jacobson merged in OneSource Financial Services of Montgomery Village, Md., on Tuesday.

The Internal Revenue Service has provided special transitional relief to banks and other payment settlement entities required under a 2008 law to begin withholding 28 percent of payments if they are unable to verify a taxpayer identification number for a retailer.

The Internal Revenue Service increased the number of fraudulent tax refund claims it detected and stopped during the 2011 tax-filing season by 171 percent over the previous year.

A federal judge has ruled against H&R Block to prevent the tax prep giant from moving forward with its $287.5 million acquisition of 2SS Holdings, whose 2nd Story Software unit develops TaxAct software, after the Justice Department objected to the deal.

BDO USA has added the six partners and more than 60 staff members of the San Antonio-based accounting firm Carneiro, Chumney & Co., effectively merging in the firm and expanding BDO’s presence in Texas.