Practice Management

GUIDANCE ISSUED ON TAX STATSWashington, D.C. - The Internal Revenue Service has issued interim guidance on the ability of a tax return preparer to use statistical compilations of anonymous tax return information to support their business.

Two New York City-based CPA and business advisory firms, Josephson Luxenberg & Kance CPAs PC, and Maybaum & Maybaum CPAs PC, have merged, effective immediately.

Regional accounting firm Schenck Business Solutions has created a Financial Crisis Response Team to help companies challenged by the recession.

The stimulus bill signed into law this week includes significant tax savings of up to $1,000 per year for workers who commute by mass transit.

Tax return examiners at the Internal Revenue Service often select the wrong prior or subsequent year’s tax return when looking for inconsistencies with the current tax return.

Here is some advice from the Internal Revenue Service about reporting gains and losses on tax returns:

Meyers Norris Penny, the 7th largest accounting and business advisory firm in Canada, has merged in Shiner Kideckel Zweig Inc., an insolvency specialist with eight offices in Ontario.

Southeastern regional CPA and business advisory firm Cherry Bekaert & Holland has expanded its penetration into the Florida market, merging with Miami-based McKean, Paul, Chrycy, Fletcher & Co., effective immediately.

Swiss bank UBS has worked out a deal with the Justice Department and the Securities and Exchange Commission to reveal the identities and account numbers of U.S. citizens who have been stashing their money in previously secret bank accounts.

When Timothy Geithner unveiled the Treasury Department’s latest financial rescue plan, he probably didn’t expect it to flop so quickly.