Practice Management

A federal grand jury has indicted 55 individuals for participating in a massive income tax fraud scheme based in Southern California that illegally sought over $250 million in tax refunds.

With the exception of Spain, Luxembourg, Ireland, and a few other countries, most nations did not increase their top personal income tax rate this past year despite revenue pressures, according to a new report from KPMG.

It's no secret that today mergers and acquisitions are an extremely active part of the accounting profession. These combinations are due to numerous reasons, with retirement, leadership and growth at the top of the list. As owners reach retirement age, they are looking for an exit strategy. At the same time, growing firms are looking for merger candidates to gain clients, to gain access to needed staff skills, or to establish a presence in a desired market location. With a marketplace like this of buyers and sellers, it's no wonder there is plenty of activity!

Practitioners tend to view tax season with mixed feelings. On the downside, there's getting clients to send you the data you need to construct their return, and determining how much of what they give you is actually germane to the return.

The Internal Revenue Service has posted the instructions for the estate tax form for people who died in 2010, the year that the estate tax was not in effect for many taxpayers.

The Internal Revenue Service has released guidance aimed at clarifying the tax treatment of mobile phones provided by employers to their employees.

As tax year 2011 starts heading toward the exit, the annual expectation arises that year-end tax planning can somehow help lower tax liability before it becomes fixed for the year, as well as helping to identify and maximize certain tax opportunities that may end with the New Year.

PHOENIX

The concept of quality governance practices within nonprofit organizations is not revolutionary. Historically, however, the role of those charged with the governance of nonprofit organizations - the board of directors - has not always been clearly defined.

Price Kong & Co. is a firm on the move - but not literally.