Practice Management

New information made public by the U.S. Federal Election Commission reveals that members of the accounting profession are opening their checkbooks early and often in an effort to help candidates in the 2012 Presidential elections.

An analysis of tax liens across the U.S. found that New York City, with some of the wealthiest neighborhoods in the nation, was the country’s leading area to be on the receiving end of federal tax liens.

Dallas-area CPA Calvin Brown, founder of CD Brown and Associates, a CPA and business advisory firm, has launched Small Biz Champ, an accounting franchise concept.

Across the U.S., there were 97 increases in state sales and use taxes, 96 new taxes and nine decreases in the third quarter of the year, according to a new report.

The IRS doesn’t make the laws, it just enforces them.

The Internal Revenue Service said Thursday that tax preparers can start renewing their Preparer Tax Identification Numbers for the 2012 tax-filing season.

The Internal Revenue Service may have paid $3.2 billion in erroneous American Opportunity Tax Credits during the first five months of 2010 to 2.1 million taxpayers, according to a new government report.

The Internal Revenue Service said Thursday that many tax benefits for tax year 2012 will increase due to inflation adjustments, including personal exemptions and standard deductions, with tax brackets also widening next year.

The Internal Revenue Service has increased the maximum pre-tax contribution limit for 401(k) and 403(b) retirement plans, most 457 plans, and the federal government’s Thrift Savings Plan by $500, from $16,500 to $17,000, as a result of cost-of-living adjustments.

A former Bronx tax preparer has been sentenced to three years in prison for preparing false tax returns.