Practice Management

Victims of severe flooding in Minnesota and North Dakota have an extra 30 days, until May 15, to file their 2008 individual tax returns and pay any taxes due.

Both the House and Senate approved the Democrats’ version of a $3.5 trillion budget plan for fiscal year 2010, but without a single Republican vote.

The first U.S. client of Swiss bank UBS has been arrested on tax evasion charges by federal authorities, and he’s an accountant.

Lawmakers at a congressional hearing Wednesday pressed Internal Revenue Service Commissioner Douglas Shulman to ease up on audits of small businesses.

Just in time for the G20 economic summit in London, the U.S. Treasury Department has signed a tax information exchange agreement with the government of Gibraltar.

As the tax deadline looms in two weeks, the Association of Chartered Certified Accountants has some advice for businesses and individual taxpayers.

The Treasury Department has opened its ballyhooed Web site that will allow ordinary citizens to keep an eye on efforts to stabilize the financial system.

A new report suggests that companies adopting the Financial Accounting Standards Board’s recent proposals on modifying mark-to-market and fair value accounting standards should provide more extensive disclosures to help investors make sense of the impaired assets.

The Financial Accounting Standards Board has bowed to pressure from lawmakers and banking interests and put forward a proposal to relax fair value standards.

The Congressional Research Service has found that both the Senate and House bills that seek to tax bonuses paid to employees of entities receiving assistance from the federal government under the Economic Stabilization Act of 2008 may have constitutional problems.