Practice Management

A federal court has barred a Jackson Hewitt franchise from preparing federal income tax returns claiming an improper federal income tax exemption for casino proceeds paid to Native Americans.

Professional services provider Jefferson Wells has acquired the Phoenix tax practice of Holt & Frank PLLC. Financial terms of the deal were not disclosed.

Changes to the Internal Revenue Service's Offer in Comprise Program went into effect July 16 -- with the most noticeable difference being that taxpayers who submit lump sum offers to the agency must now make a 20 percent nonrefundable, up-front payment to the IRS.

The Internal Revenue Service has ruled that employer incentives encouraging their employees to purchase environmentally friendly hybrid cars, are considered taxable compensation.

The Senate Finance Committee pushed hard for answers from a tax policy nominee on when the Treasury Department will supply recommendations on an overhaul of the tax system, and how best to meaningfully improve the nation's tax compliance.

National Taxpayer Advocate Nina E. Olson has delivered a report to Congress outlining the priority issues her office will tackle in the coming fiscal year.

The 40-year-old firm of Paul E. Daoust & Co. PC CPAs, based in Charlton, Mass., announced that it has acquired the Sturbridge, Mass.-based practice of CPA John M. Larson.

Prosecutors are looking into Deutsche Bank's role in providing a lesser-known questionably tax shelter sold through a Silicon Valley firm, according to published reports.

Three weeks into the clean-up effort following the massive flooding at its Washington headquarters, the Internal Revenue Service said that the office -- which houses some 2,700 workers -- won't reopen until early 2007.

During his administration's mid-year congressional review, President Bush said that high tax revenues were responsible for helping the government reduce the budget deficit faster than originally anticipated.