Practice Management

The Senate approved a patent reform bill on Thursday containing provisions that eliminate patents on tax strategies.

Amazon.com has reportedly clinched a tentative deal with legislative leaders in California to begin collecting sales taxes in September 2012 in exchange for dropping a voter referendum drive aimed at repealing a recently passed law that would require online retailers to collect sales taxes.

A Bronx tax preparer has been sentenced to 63 months in prison for preparing false tax returns using the identities of dead children, while another preparer in Southern California faces prison time for claiming up to 20 non-existent children as dependents.

A bipartisan trio of senators has introduced legislation that would foster the growth of S corporations owned by Employee Stock Ownership Plans, or S-ESOPs.

Advisors Trusted Advisor has introduced new audio and video services to help financial advisors and wealth managers reach prospects and clients.

The Foreign Account Tax Compliance Act is creating problems for not only wealthy taxpayers trying to stash their money in secret Swiss bank accounts, but also for Americans living abroad.

Republican presidential candidate Mitt Romney introduced a 160-page plan for generating jobs and economic growth, including reductions in the corporate tax rate, along with the elimination of taxes on capital gains, interest and dividends.

A fraud referral from an IRS revenue agent led to a criminal investigation and conviction for tax fraud.

The Internal Revenue Service released the specifications on Tuesday for the competency test that individuals must pass to become a Registered Tax Return Preparer.