Practice Management

The Treasury Department’s Inspector General for Tax Administration is urging the IRS to ensure better compliance by tax-exempt organizations that don’t file their tax returns.

The U.S. Bankruptcy Court has given the go-ahead for Deloitte to acquire substantially all that remains of consulting firm BearingPoint’s North American public services practice for $350 million.

New York-Northeast super-regional CPA and business advisory firm J.H. Cohn has unveiled a new ad campaign with the tagline, "The Experience to Face the Unprecedented."The effort, which continues to use Major League Baseball manager Joe Torre as the firm's spokesman, will appear in outdoor, print and radio spots. Currently print ads are running in The Wall Street Journal and The New York Times. Radio spots are scheduled to begin in September.

IRS REFORMS CONTRACTING

The Bernard Madoff situation is just the most notorious of dozens of Ponzi schemes that have surfaced since the current recession made it more difficult for the operators of those schemes to keep covering payouts and redemptions with money from new investors.

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.