Practice Management

The Internal Revenue Service has announced new filing thresholds for next year for tax-exempt organizations filing Form 990 series returns.

The 18-member commission appointed to recommend ways to cut the federal budget deficit and national debt was unable to reach the 14-member threshold required to approve a final report and send it to Congress.

The Internal Revenue Service has issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

The U.S. economy gained only about 39,000 jobs in November, far fewer than expected, sending the unemployment rate up two-tenths of a percentage point to 9.8 percent, and putting more pressure on Congress to pass an extension in federal unemployment benefits.

The former co-owner of a cement and masonry contracting business has been sentenced to two years in prison in a scheme to file false tax returns and illegally structure transactions.

Senate Finance Committee Chairman Max Baucus, D-Mont., has introduced a package of tax cuts for middle-class families after the House passed tax cut legislation Thursday extending the Bush-era tax rates.

Preparers looking for a wish list of provisions for the lame duck session of Congress to pass have a number of items to consider.

The House voted Thursday to censure former House Ways and Means Committee Chairman Charles Rangel, D-N.Y., for violations of ethical rules.

irs, tigta, prisoners, taxes, fraud, tax refunds

House Democrats passed a tax cut package on Thursday aimed at extending the Bush-era tax cuts for taxpayers who earn below $250,000, but the prospects for passage in the Senate will depend on the deal worked out by a bipartisan group of four lawmakers and two Obama administration officials.