Practice Management

In my last article (March 16-April 5, 2009, page 19), I discussed the concept of accountability. In this article, I want to explain how to implement a culture of accountability and the barriers that can stop you from being successful.

Washington, D.C.-In the wake of several high-profile Ponzi schemes - most notably, the $65 billion fraud perpetrated by the now-jailed Bernard Madoff - the Internal Revenue Service has issued new guidance for victims of these types of schemes and their tax preparers.

The Justice Department has filed a “John Doe” summons with a federal court seeking the credit card records of U.S. merchants hiding money in offshore bank accounts.

President Barack Obama made a bid to promote his administration’s tax policies the day taxes were due to be filed.

Billions of dollars in tax credits are being provided toIndividual Taxpayer Identification Number filers without adequate verificationof eligibility, according to the Treasury Inspector General for TaxAdministration.

The Singing CPA, Steven Zelin, a singer-songwriter and practicing CPA, said he intends to perform for the fifth straight year outside New York City’s main post office after 10 pm on April 15 to entertain procrastinating taxpayers.

New York CPA and consulting firm Marks Paneth & Shronhas merged with Montalto CPA, a Tarrytown, N.Y.-based practice, effectiveimmediately. Terms of the merger were not disclosed.

Internal Revenue Service agents busted a tax prep office less than two days before the filing deadline.

The head of a yachting company became the second UBSclient in the U.S. to plead guilty to tax fraud charges in the midst of aninvestigation into the Swiss bank's tax shelters.

At least one Chicago-area CPA firm has won braggingrights after it received the highest rating possible on an independent peerreview of its financial statement audit and review services.