Practice Management

The Internal Revenue provided an additional extension Thursday on the requirements for filing a form disclosing a foreign bank account until Nov. 1, 2011, for those who had signature authority over, but no financial interest in, the account in 2009 or earlier calendar years.

Smolin Lupin’s accountants and consultants plan to host a free symposium for business owners next Thursday on how to avoid business problems.

The IRS’s Electronic Tax Administration Advisory Committee released its 2011 Annual Report to Congress during a public meeting Wednesday, with recommendations in areas ranging from security to tax simplification and greater collaboration with e-filers.

New statistics released by the Internal Revenue Service showed that the number and percentage of taxpayers earning over $200,000 a year who owed no U.S. income taxes nearly doubled from 2007 to 2008.

House Ways and Means Committee Chairman Dave Camp, R-Mich., has released a public letter he sent to the Internal Revenue Service demanding information about its recent investigation into donations to politically active tax-exempt organizations and the agency’s apparent drive to impose gift taxes on these monies.

A bipartisan group of lawmakers in Washington is co-sponsoring legislation and demanding an independent probe to stop the government and a trustee from suing innocent victims who invested in Bernard Madoff’s Ponzi scheme.

The Senate vote Tuesday on repealing the Volumetric Ethanol Excise Tax Credit failed, but it could be a sign of things to come as the tax reform debate heats up in the midst of talks to raise the debt limit.

Knowing and communicating the value of you and your firm to both existing and prospective clients can often be the critical elements that help not only strengthen client relationships and win new business, but differentiate your practice from the competition.

Seattle accounting firm Lockitch Clements & Rice PS said Tuesday it will join with Minneapolis-based LarsonAllen LLP, effective Aug. 1, 2011.

The Bonadio Group, a Top 100 accounting firm, has acquired ParenteBeard’s branch office in Syracuse, N.Y.