Practice Management

The Internal Revenue Service has extended the due date until Sept. 9, 2011, for taxpayers with undisclosed foreign bank accounts to participate in its latest offshore voluntary disclosure initiative.

The IRS said its summer 2011 issue of the Statistics of Income Bulletin is now available.

Kansas accounting firm Summers Spencer & Co. has absorbed Overland Park, Kan.-based accounting firm James F. Gillespie CPA through a merger, reported the Kansas City Business Journal.

IMGCAP(1)]As accountants and tax attorneys, we often find ourselves in conversation with our peers about the constitutionality of state taxation.

Financial services conglomerate Bloomberg and tax publisher BNA have entered into an agreement for Bloomberg to acquire all outstanding shares of BNA in a deal worth roughly $990 million, it was announced Thursday.

A new report from the Treasury Inspector General for Tax Administration concludes that the IRS needs to improve the timeliness and accuracy of its response to taxpayer complaints about math error adjustments.

IMGCAP(1)]Limited capital is a reality of business.

McGladrey & Pullen announced Tuesday that its board of directors has reached an agreement with H&R Block to purchase back RSM McGladrey Inc. for $610 million, reuniting the assurance, tax and consulting practices under an integrated McGladrey & Pullen partnership structure.

Former chairman and chief executive of American Express Harvey Golub took to the opinion pages of Monday’s Wall Street Journal in response to billionaire Warren Buffett’s “Stop Coddling the Super-Rich” New York Times op-ed.

Private equity firm Bain Capital has signed a deal to purchase Australian accounting software company MYOB for about $1.3 billion, beating out offers from UK’s Sage Group and private equity giant Kohlberg Kravis Roberts & Co.