Practice Management

The Internal Revenue Service’s ability to process the growing number of Health Coverage Tax Credit claims under the 2009 stimulus bill is doubtful, leading to questions about the agency’s ability to handle its new responsibilities under the new health care reform law.

The worldwide decline in top personal income tax rates over the past seven years has come to an end, as this year’s average rate increased 0.3 percent globally.

The Internal Revenue Service needs to improve its ability to identify tax preparers who submit improper Earned Income Tax Credit claims, according to a new government report.

BookKeeping Express has launched a contest to award $25,000 in bookkeeping and accounting services to small businesses suffering from a “financial-recording disaster.”

The Internal Revenue Service said it is delaying until further notice the renewal period for enrolled agents whose Social Security numbers or tax identification numbers end in 4, 5 or 6.

The Internal Revenue Service said that homeowners can deduct interest on up to $1.1 million in mortgage debt, $100,000 more than the previous limit of $1 million.

There may be some jobs tougher than beach master for the initial landing force at Omaha Beach during the Normandy invasion, or Commissioner of Internal Revenue, but off-hand I can’t think of any. Both positions are intense, all-consuming, and attract a great deal of incoming fire. And Mortimer Caplin has done both.

The Internal Revenue Service has issued over 50,000 Preparer Tax Identification Numbers since opening its online registration system less than a month ago, but the system has experienced a number of birth pains, the IRS reported.

Some of the $203 million in stimulus funds provided to the Internal Revenue Service through last year’s Recovery Act are at risk of being misspent due to continued problems with contract oversight, according to a new government report.

The financial firms that suffered the greatest stock-price declines during the economic crisis tended to be those with the highest proportion of independent directors, according to a new study.