Practice Management

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.

The Internal Revenue Service has added new lines to the Schedule M-3 for research and development costs and Section 118 exclusions.

Cohen, Doren, Addeo & Co. has joined Fazio, Mannuzza, Roche, Tankel, LaPilusa LLC, expanding Fazio Mannuzza’s presence in New Jersey to Jersey City.

The Internal Revenue Service has released a draft Form W-2 for 2011, which employers use to report wages and employee tax withholding.

The Internal Revenue Service has issued final regulations under a law change that will require reporting of basis and other information by stock brokers and mutual fund companies for most stock purchased in 2011 and all stock purchased in 2012 and later years, making it easier for investors to report their gains and losses next year on their tax returns.

The average U.S. state sales tax rate increased to a record average of 5.52 percent in the first nine months of 2010, the highest level since at least 1982, according to a new report.