Practice Management

The American Institute of CPAs is urging Congress to repeal a 3 percent tax withholding rule facing government contractors and individuals such as farmers and medical professionals.

A revenue agent with the Internal Revenue Service has been sentenced to 36 months in federal prison for filing fraudulent tax returns for himself and innocent relatives that claimed, among other things, bogus deductions for alimony and mortgage payments.

IMGCAP(1)]Social networking sites come and go.

Early tax collection data for the first quarter of the year indicates that tax collections have grown for the fifth straight quarter, according to a new study.

In the aftermath of the devastating tornado Sunday in the Joplin, Mo., area, the Internal Revenue Service is giving victims additional time to meet their tax obligations.

IMGCAP(1)]I once watched a long-distance golf drive competition and was amazed at the distance that some people are able to hit a golf ball.

Jackson Hewitt Tax Service filed for Chapter 11 bankruptcy, but said it has reached a definitive agreement with its secured lenders on a restructuring plan.

A coalition of Republican and Democratic lawmakers has introduced a trio of bills aimed at protecting access to medical marijuana under tax and banking laws, and changing the existing laws to reflect the medical efficacy of marijuana.

House Republicans introduced a 10-page document outlining their “Plan for America’s Job Creators Agenda,” including lowering the top tax rate for businesses and individuals from 35 to 25 percent and reforming the Tax Code to encourage U.S.-based businesses to repatriate their overseas profits.

Denis Field, the former chairman and CEO of accounting firm BDO Seidman, was convicted along with two attorneys from the law firm Jenkens & Gilchrist and a Deutsche Bank broker, of participating in a $7 billion tax shelter scheme that lasted a decade.