Practice Management

The Treasury Department has released a new state-by-state report on the number of newly hired workers whose employers are eligible to claim tax credits under the HIRE Act, increasing the estimate from 4.5 million to 5.6 million workers.

CCH has introduced CCH TaxPlan, a new product on its IntelliConnect online research service that combines tax planning guidance with interactive practice tools to help practitioners with tax planning engagements.

Kentucky CPA firms Dean Dorton Ford and Cotton + Allen plan to merge by the end of the year.

Averett Warmus Durkee has merged its practice with Osburn, Henning and Co.

House Democrats blasted Republicans for blocking a bill with tax breaks for small businesses and the removal of a controversial 1099 information reporting requirement after the bill failed to garner the two-thirds margin needed for passage.

A new bill in Congress would provide a one-time $250 payment to senior citizens, veterans and the disabled in the event that no Social Security cost-of-living adjustment is payable in 2011.

Senate Republicans united in blocking a vote on legislation to provide tax breaks to small businesses along with a $30 billion lending fund.

Senior financial executives and tax directors say they lack formal policies and procedures to manage the IRS exam process effectively, despite reporting a noticeable increase in Internal Revenue Service corporate audit activity over 2008 levels, according to a recent survey by KPMG LLP.

The House ethics committee laid out a series of charges against Congressman Charles Rangel, D-N.Y., on Thursday, including his failure to pay taxes on rental income he earned from a vacation villa he owns in the Dominican Republic.

The House Committee on Financial Services voted to approve Internet gambling legislation, a critical step in making online gambling legal in the U.S.