Practice Management

A group of nearly 30 congressional Democrats has written to the leaders of the Labor Department, the Securities and Exchange Commission, and the U.S. Commodity Futures Trading Commission expressing concern over a recent proposed rule redefining the meaning of the term “fiduciary,” saying it would have a negative impact on people with Individual Retirement Accounts and other retirement and savings plans.

The Senate Finance Committee held a hearing Thursday on tax breaks for oil companies, bringing together top executives from the largest oil companies to defend their tax credits.

The IRS Oversight Board said in its annual report to Congress on Thursday that despite a successful 2010 tax filing season the agency has been challenged in the past few years to implement and administer many new tax provisions intended to bring relief to taxpayers feeling the effects of troubled economic conditions.

A group of lawmakers has introduced a bill that would temporarily lower tax barriers to encourage American companies with earnings overseas to bring those dollars back to the U.S. for investment.

IMGCAP(1)]When your vehicle’s gas tank is nearing empty, you generally have a multitude of gas stations from which to choose.

Moss Adams, the 11th largest accounting and consulting firm in the U.S., has refreshed its brand with new colors, a new tagline, and a redesigned Web site with a new look and feel.

IRS employees continue to refer to some people who refuse to pay taxes to the federal government as “illegal tax protesters,” despite a 1998 law prohibiting use of the term.

Three Democratic senators have introduced a bill that would end tax subsidies for the five largest oil companies.

Friedman LLP said Tuesday that the former partners of Tracey Heun Brennan & Company of Linwood and Toms River, N.J. have joined its practice, effective May 1, adding four practice leaders and two new office locations to the firm.

The Federal Deposit Insurance Corp. has proposed a $2 million fine against Republic Bank & Trust Co. after the bank tried to coach tax preparers using its refund anticipation loan products on how to respond in case the FDIC visited them.