Practice Management

The Internal Revenue Service has provided guidance for retirement plan administrators, plan participants and retirees on some recent changes from legislation affecting required minimum distributions.

The Justice Department has asked a federal court in Lincoln, Neb., to bar Donald Ondrak, a Lexington, Neb., CPA, from preparing tax returns.

North Dakota accounting firms Brady Martz & Associates PC and Reichert Fisher PC plan to merge, effective Oct. 1, expanding Brady Martz’s presence across the state.

IMGCAP(1)]Client retention is an essential ingredient of a solid marketing plan.

An outside audit has revealed that the Securities and Exchange Commission's record-keeping system of contracts with outside vendors is riddled with "significant risk areas" within the regulator's acquisitions office.

The Pentagon's Defense Contract Audit Agency - thefederal watchdog responsible for providing critical accounting and auditingoversight of military contractors - is riddled with audit quality problems thatinclude inadequate audit planning and supervision, as well as serious breachesof auditor independence, congressional investigators charged.

A New Jersey man has pleaded guilty to failing to report $6.1 million that he had hidden in secret Swiss bank accounts.

The Internal Revenue Service has agreed to extend until the end of the year a grace period for collecting penalties from small businesses accused of engaging in certain types of tax shelters.

Among the revenue proposals detailed in the administration’s fiscal 2010 budget are some provisions that might negatively affect small businesses and tax preparers. The American Institute of CPAs has weighed in on a number of these, including the codification of the economic substance doctrine, information reporting on payments to corporations, increasing the level of the information penalties, and expanding the requirement for electronic filing by return preparers.

The Internal Revenue Service has severed ties with ACORN, the controversial community-organizing group that was recently the subject of a series of hidden camera videos.