Practice Management

The Internal Revenue Service has temporarily suspended the requirement to file a Report of Foreign Bank and Financial Accounts for the 2009 and earlier calendar years, for people who are not U.S. citizens, residents or domestic entities.

The Justice Department has asked a federal court to stop two Miami-based tax return preparers from improperly claiming the First-Time Home Buyer Credit.

Inmates at a county prison just outside Key West, Fla., received up to $100,000 from the IRS after filing for over $1 million in fraudulent tax refunds.

The Senate’s latest stimulus effort, a “jobs bill” named the Hiring Incentives to Restore Employment Act, passed this week with a 70 to 28 margin.

ConvergenceCoaching has brought on Jack G. Lee III as a new partner in the CPA firm leadership and marketing coaching group.

Schutte & Hilgendorf has expanded its audit practice to include governmental auditing and accounting services.

Liberty Tax Service has reported a 10.2 percent increase in the total number of tax returns filed as of Feb. 15, 2010, and a 28.1 percent increase in revenue generated, a marked contrast with rival H&R Block.

Accounting Today has announced its first annual Growth & Profitability Summit, to be held Nov. 17-18 at the Wynn Las Vegas Hotel in Las Vegas.

The Senate Finance Committee held a hearing to discuss trade and tax issues relating to small business job creation.

Sen. Ron Wyden, D-Ore., and Judd Gregg, R-N.H., have introduced legislation to eliminate many of the exemptions, deductions, credits and other tax breaks in the Tax Code.