Practice Management

Congress’s two tax-writing committees convened a rare joint hearing Wednesday to consider whether the Tax Code is providing too many incentives for accumulating debt as opposed to equity.

The Internal Revenue Service is urging taxpayers to guard against being misled by unscrupulous individuals trying to persuade them to file false claims for tax credits or rebates.

Sen. Carl Levin, D-Mich., and several other senators have introduced a bill to close offshore tax loopholes and strengthen offshore tax enforcement.

Protected Tomorrows Inc. has introduced a new program to help financial professionals such as CPAs deal with families who have a loved one with special needs such as autism, bipolar disorder or Alzheimer’s disease.

Amazon.com is trying to get a referendum on the California ballot to get the recently enacted online sales tax law reversed.

Washington, D.C.-based CPA firm Martin & Wall has joined with Milwaukee-based Chortek & Gottschalk, becoming a division of C&G.

The Internal Revenue Service plans to send letters to approximately 100,000 tax return preparers who it said Tuesday failed to follow its new registration requirements.

Congressman John Tierney, D-Mass., has introduced a bill that would eliminate about 27 different tax expenditures, including tax breaks for energy companies.

A federal requirement that the tax returns of large corporations be filed and processed electronically has resulted in cost savings to the corporations and the government, according to a new government report.

President Obama challenged Republicans on Monday to offer him their tax reform proposals for resolving the debt ceiling dilemma as he pushed for a deal that the two parties could agree to before the August 2 deadline on raising the debt limit.