Practice Management

It’s been five years since former Senator Connie Mack, then chairman of the President’s Advisory Panel on Federal Tax Reform, said the panel would “take a fresh look at the existing Tax Code and will formulate options for making the tax system simple, fair and productive.”

The Treasury Department said it would launch a new pilot program next tax season for people without bank accounts, directly depositing their tax refunds in special accounts that they will be able to access with debit cards.

The IRS’s increased emphasis on enforcement, rising caseloads, the economy, and recent legislative changes are among the many challenges confronting the Taxpayer Advocate Service, according to a new report.

CCH has begun offering outsourced sales and use tax return preparation and filing services to corporate accounting and tax departments.

The Internal Revenue Service lost an estimated $90 million in revenue for tax year 2008 because of erroneously claimed foreign earned income tax exclusions, according to a new government report.

New York and Philadelphia have been provoking the ire of their residents lately by levying taxes on two formerly sacrosanct local products.

The Tax & Accounting business of Thomson Reuters has acquired Boskage Commerce Publications Ltd., a provider of international trade publications and training materials, WebCPA has learned.

IMGCAP(1)]Back in 1975 Paul Simon released his biggest-selling song to date: "50 Ways to Leave Your Lover." I am told his song became the anthem for many successful divorce attorneys as well.

Taxpayers will be able to receive their income tax refunds on a reloadable prepaid Western Union MoneyWise MasterCard next tax season as a result of a new agreement that CCH Small Firm Services has struck with Western Union.

President Barack Obama blasted Senate Republicans for obstructing his administration’s top legislative priority: a bill providing tax cuts and a $32 billion lending fund for small businesses to spur job growth.