Practice Management

The Internal Revenue Service has launched a new Internet-based version of its popular Exempt Organizations Workshop covering tax compliance issues confronted by small and midsized tax-exempt organizations, including charities and churches.

More than a dozen senators have signed on to sponsor a bill that would stop the Internal Revenue Service from using private debt collectors to collect unpaid taxes.

With just about every politician in Washington in agreement that some permanent fix needs to be made to the alternative minimum tax, the Tax Policy Center has released a report outlining a number of possibilities.Created as a parallel tax structure in 1969 that was aimed at preventing the super-rich from using deductions and shelters to avoid paying taxes, inflation has turned the AMT into a different monster. The center’s report notes that fewer than 400,000 families were affected by the tax in 1985, this year, about 3.8 million households will see their tax bills rise by an average of $6,813.

My first experience with the minimum wage was in 1972 as a movie usher for the old Century Theater chain on Long Island.

The Internal Revenue Service has released a fact sheet explaining the 2006 alternative motor vehicle credit allowed for 44 automobiles certified as eligible.

On a voice vote, the Senate Finance Committee approved a bill that would curb one element -- deferred compensation -- of the sometimes exorbitant pay packages awarded to corporate executives.The committee agreed to change rules that allow some executives to collect millions of dollars in tax-deferred accounts. According to congressional estimates, limiting that perk would raise upwards of $800 million over the next decade.

RSM McGladrey’s Florida growth strategy took another step forward this month, as the firm announced that it has signed a letter of intent to acquire Tedder, James, Worden & Associates.

So, what makes a top-notch advisor? It looks as though MainStay Investments may have given us the answer.

Two firms in Kansas City, Mo., have announced a merger.TMPitman & Associates LLC bought Glen Burrington & Co. at the close of 2006 for an undisclosed amount, according to local newspapers. The deal closed on Dec. 29 and will give public accounting firm TMPitman its second location in the area.

When it comes to the foreign earned income exclusion, a federal appeals court has upheld a ruling that Antarctica does not qualify as a foreign country.The Seventh Circuit court affirmed a U.S. Tax Court decision that the 2001 earnings of a U.S. citizen living in Ross Island, Antarctica, are subject to federal taxes.