Practice Management

The Internal Revenue Service is looking for taxpayers who are due to receive a combined $123.5 million from 107,831 refund checks that were returned to the IRS by the U.S. Postal Service due to mailing address errors.

At least 1,260 individuals appear to have erroneously claimed about $1.8 million in Health Coverage Tax Credits on their 2007 returns.

Congress has passed a bill on unemployment that would require electronic filing by all return preparers “except those who neither prepare nor reasonably expect to prepare ten or more individual income tax returns in a calendar year.” The measure is effective for returns prepared after Dec. 31, 2010.

IMGCAP(1)]In my travels around the country one of the objections I hear most often from managing partners about the effectiveness of marketing is, “How do I determine the return on investment on my marketing/sales expenditures?”

The Senate voted by a 98-0 margin to extend the First-Time Homebuyer Tax Credit while also expanding the credit to existing homeowners who want to move to another residence.

The House Financial Services Committee voted to exempt small and midsized public companies from Sarbanes-Oxley audit requirements.

An IRS employee has admitted to stealing money from the mail that had been sent to the facility where she worked.

The IRS’s plans to create a new unit to examine high-income taxpayers with complex offshore tax structures could prove to be a boon to both accounting firms and tax attorneys.

Two Minneapolis-area CPA firms, Carver Moquist & O’Connor and TK Advisors Ltd., have merged to form a larger advisory firm to service the Twin Cities.

Forty-three percent of taxpayer requests for copies of tax returns or transcripts were processed incorrectly or not in accordance with IRS guidelines, according to a new report.