Practice Management

Accounting firm J.H. Cohn LLP has merged in Charles Brucia & Co., expanding its entertainment-related client base.

States get aggressive with sales and use tax to close gaps

IRS ADDS TO 'TRANSACTIONS OF INTEREST' LIST

As individuals try to reclaim some of the losses to their retirement portfolios, many tax advisors have become active participants in growing those accounts. With significant percentage gains and losses occurring from month to month, techniques to deal with this unfamiliar territory have become necessary. Some have already been tested by case law, while many others can be evaluated, at least for the time being, only through what's been said in private letter rulings or on the Internal Revenue Service's Web site in informal advice.

The American Institute of CPAs has written to the IRS asking the service to rely on the existing Circular 230 penalty structure for regulating CPA tax preparers rather than impose a new one.

Regional CPA and business advisory firm Weaver and Tidwell has launched a Transaction Advisory Services practice, an arm providing due diligence and business valuations to private equity companies as well as companies in transition.

IRS managers may start supervising tax audits more closely to help resolve disputes between taxpayers and tax examiners.

The Internal Revenue Service should check Form 1098 mortgage interest statements to catch tax dodgers, recommended a new report.

The American Institute of CPAs criticized overly broad and disproportionate tax penalties levied on both tax preparers and taxpayers in a report submitted to Congress’s tax-writing committees, the Treasury Department and the IRS.

A former IRS compliance officer in Las Vegas has pleaded guilty to accepting a bribe in exchange for preparing a false audit report for a taxpayer.