Practice Management

A Mississippi woman has pleaded guilty to paying $2,000 in cash to an IRS employee in an attempt to get her federal tax liability reduced.

A Southern California tax preparer was sentenced to 66 months in federal prison after pleading guilty to charges that he helped clients claim more than $3.6 million in fraudulent refunds.

The Internal Revenue Service has published final regulations on how to treat the sale or exchange of a musical composition or of the copyright in a musical work.

After prodding by a group of senators and an embarrassing report by the Treasury Inspector General for Tax Administration, the Internal Revenue Service has signed an agreement with the Bureau of Prisons to end fraudulent tax returns filed by prisoners.

The new cost basis reporting rules won’t affect this year’s returns, but they are already in effect.

The American Institute of CPAs is providing a checklist developed by leading CPA financial planners to help accountants identify financial planning opportunities during tax season.

President Obama urged businesses to make their buildings more energy efficient and called on Congress to provide tax incentives to help.

The Senate Judiciary Committee unanimously voted Thursday to approve bipartisan patent reform legislation, including provisions banning tax strategy patents.

Approximately $33 million in credits for plug-in electric and alternative-fueled vehicles were erroneously claimed by at least 12,920 taxpayers through July 24, 2010, according to a new government report that also found nearly $50,000 worth of the credits going to prisoners.

The outlook for small business expansion remained bleak for most of 2010 as fewer and fewer business owners sought to access credit; a trend that has continued since 2009, according to a new report.