Practice Management

Many accounting firms and their clients are going to continue facing staffing shortages, so a great deal of attention will be paid on attracting and retaining talent. The focus so far has been primarily on entry-level and more senior staff with a few years’ experience. I believe that more firms and businesses will soon also be paying increased attention to retiring and soon-to be-retiring individuals.

The Internal Revenue Service has not always followed the proper procedures when resolving discrepancies in the money owed by taxpayers for the alternative minimum tax, according to a new report.

Morningstar plans to acquire Financial Computer Support Inc., a provider of practice management software for investment advisors.

Intuit has introduced a light-hearted online rock-and-roll jingle generator for small businesses, featuring an Austin Powers look-alike named Tommy Silk.

A tax practitioner has teamed up with a software engineer to create a new tax prep program aimed at preparers who service Spanish-speaking taxpayers, especially undocumented immigrants who are ready to begin filing tax returns.

New Jersey taxpayers are stuck with the heaviest burden in state and local taxes, while Alaska taxpayers pay the least, according to a new study.

The Internal Revenue Service has given companies 30 days to agree to a settlement to close their tax shelters.

Wolf, Weis & Horowitz has merged into Kutchins, Robbins & Diamond, combining two Chicago-area firms.

The National Small Business Association has debuted a Web site intended to educate small-business owners about what it calls "the myriad harmful proposals being promoted by the IRS and Congress to raise revenue."

Troubled housing lender Freddie Mac posted its fourth consecutive quarterly loss and performed even worse than expected by analysts.