Practice Management

“The problem is variously termed as silo thinking, silo vision, silo mentality, or the silo effect. This is evident when directors, departments, managers, teams or staff may be high performers individually, but fail to choreograph their activities to create peak performance for the organization.”

A memo from the Internal Revenue Service's Large and Mid-Sized Business Division introduces new LMSB Procedures for tax return preparer penalty cases.

iPro One has reached an agreement to purchase an ownership interest in HbK Sorce Financial, an investment advisory and wealth management firm with more than $1 billion in assets under management.

Amper Politziner & Mattia has merged with Goldenberg Rosenthal to create one of the largest regional firms in the Northeast.

Genworth Financial Investment Services has launched a new section of its Web site dedicated to practice management.

Three accounting firms based in Jackson, Miss., are combining with CPA firm BKD LLP.

With the current estate tax regime set to expire in 2010, it’s time to consider what comes next, say the nation’s tax experts.With that sunset date fast approaching, the Tax Division of the American Institute of CPAs has taken its comprehensive reform proposal and boiled it down to a top-seven priority list of suggested reforms that it urged Congress to pass prior to the expiration date.

IRS HAS $1.2B IN UNCLAIMED TAX REFUNDS FOR 2004Washington, D.C. — The Internal Revenue Service said that it had approximately $1.2 billion in unclaimed refunds waiting for 1.3 million people who did not file federal income tax returns for 2004, but they needed to file by April 15, 2008, to claim the money.

The Treasury Department said it has sent out 7.708 million economic stimulus payments, or tax rebates, in the first week, totaling $7.091 billion.

Amazon.com has sued New York State over a new law that requires Internet businesses that receive referrals from other Web sites in the state to begin taxing purchases by New York customers.