Practice Management

The Internal Revenue Service spent nearly two years and $19.5 million to develop its new Web portal, but canceled the project six months before its scheduled completion date, according to a new report.

Treasury Secretary Timothy Geithner told a House subcommittee that he intends to simplify the Tax Code and devote more money to IRS enforcement.

The IRS should be doing a better job of ensuring that the sensitive personal and financial information on taxpayers’ paper documents doesn’t fall into the wrong hands, according to a new report.

Marcum & Kliegman LLP is combining forces with Rachlin LLP, expanding the New York firm’s presence to Rachlin’s home base in Florida.

The Internal Revenue Service has increased its audit rates of the wealthiest individuals and corporations, according to testimony by IRS Commissioner Douglas Shulman.

A California congressman has introduced legislation that would require federal agencies to use interactive data-tagging technology to track the use of government bailout funds by companies.

Accounting firm Marks Paneth & Shron has assembled a team to help clients with holdings in Swiss bank accounts comply with the IRS’s stepped-up enforcement efforts.

The Senate Finance Committee released a set of policy options for financing health care reform, including modifying the current tax treatment of health-related expenses.

Super-regional CPA and business advisory firm J.H. Cohn LLP posted annual revenues of $246.4 million, an 11 percent rise over the year-ago period.

BKD is expanding its presence in Texas by combining with KBA Group, adding over 100 people to the accounting firm.