Practice Management

Two New York City tax preparers are facing prison time and the payment of substantial sums of money in a pair of recent cases.

The American Institute of CPAs and 18 other groups have written a letter to congressional leaders encouraging them to ban tax strategy patents before adjourning.

Senate Finance Committee chairman Max Baucus, D-Mont., has sent a letter to IRS Commissioner Doug Shulman requesting him to investigate the use of tax-exempt groups for political advocacy.

The Internal Revenue Service has released guidance on the expanded adoption credit that is available for tax year 2010 as a result of the Affordable Care Act, along with a draft version of the form that taxpayers will use to claim it.

Super-regional CPA and business advisory firm BKD has launched www.financialreforminsights.com, an interactive portal to help guide financial institutions through the sweeping regulations under legislation such as the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Senate Republicans blocked a bill on Tuesday that would have denied tax breaks to companies that move jobs offshore and provide companies with a two-year holiday from their share of Social Security payroll tax withholding for each employee they hire to replace a worker at a foreign-based facility.

The Internal Revenue Service has issued final regulations requiring paid tax return preparers to register with the IRS to obtain a Preparer Tax Identification Number and made available a new online application system for getting a PTIN.

CPA and business advisory firm RubinBrown has formed a new client niche, Life Sciences Services Group, and appointed Felicia Malter, CPA, as partner-in-charge.

IMGCAP(1)]Cold calling is much like my golf game: unpredictable with unmet expectations.

The Senate debated a bill on Monday that would give companies a two-year holiday from their share of Social Security payroll withholding for each employee they hire to replace a worker at a foreign-based facility.