Practice Management

IMGCAP(1)]Credit scores have become a major factor for consumers and businesses that seek financing ranging from mortgages, car and student loans to business credit lines and bank loans.

The Senate approved an amendment Wednesday to repeal the expanded 1099 information reporting requirements in the health care reform law.

A coalition of 15 national organizations urged the Senate Judiciary Committee to keep a provision in S. 23, The Patent Reform Act of 2011, which would stop tax strategy patents. The bill goes to mark-up on Feb. 3.

The Internal Revenue Service warned small businesses and their tax preparers Wednesday that a group of tax return forms should not be filed until it is ready to start processing them.

Accounting and advisory firm Baker Tilly has joined the NetSuite Solution Provider program and will use the Web-based service as part of its own cloud computing consulting practice.

The Internal Revenue Service’s efforts to do more oversight of paid tax preparers will not be fully operational until 2014 and needs to happen sooner, according to a new government report.

Organizations are expected to invest more money to protect personal information in response to increased government regulation and enforcement and to stem the rising tide of risk, according to a new report released Wednesday by Ernst & Young.

With many indications showing that the Internal Revenue Service is behind in the number of tax returns filed so far this year compared to last year, Liberty Tax Service reported positive growth Wednesday in revenue, same-store sales and tax returns filed.

Sen. Mike Johanns, R-Neb., and Debbie Stabenow, D-Mich., have introduced similar but competing amendments to repeal the expanded 1099 information reporting requirements in the health care reform bill, intending to attach the amendments to a re-authorization bill for the Federal Aviation Administration.

Cherry Bekaert & Holland has acquired the CPA firm Burrus Paul & Turnbull, expanding the firm’s presence in Virginia.