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President Bush said that he wouldn't allow the elimination of the mortgage interest deduction as part of suggested changes to the tax code.
February 22 -
Six-person accounting firm Abo & Co. LLC of New Jersey has merged with the office of Morrisville, Pa.-based CPA Earl Sigmund. Both firms will operate under the Abo & Co. name.
February 22 -
The Internal Revenue Service has simplified the process for business taxpayers to file for an extension.
February 17 -
The Management Summit conference, the oldest independently-owned symposium for accounting firm executives, was sold by Atlanta-based Hudson Sawyer to the Growth Partnership, of St. Louis.
February 16 -
Risk management and internal audit services provider Protiviti acquired Creative Options and Radius, both Waterloo, Ont.-based companies specializing in loss prevention and risk management services in the retail sector.
February 16 -
Internal Revenue Service officials announced that their latest estimates of the tax gap for the 2001 tax year comes to $345 billion.
February 15 -
Turns out in between the normal gossip, my friends and family had somehow neglected to spread a juicy bit of exciting Ocean State news with me -- I'm talking of course about the flat tax proposal that came out of the Rhode Island House of Representatives in early February.
February 15 -
It's fair to say that CPAs have "gotten the memo" when it comes to the importance and value of marketing. Telling their story to those who need to hear it - and are in a position to respond - is a concept many now understand and even embrace.But in today's demanding marketplace, it's not enough to market an offering; you've got to manage it - from incubation through birth, innovation and beyond. Sharply designed brochures, hard-hitting direct mail and interactive Web sites simply won't get you where you want to go.
February 13 -
IRS OPENS 2006 FILING SEASON: The Internal Revenue Service sent out 17.7 million 1040 tax packages during the first week of January to taxpayers who have previously filed paper returns. The number of paper tax booklets being mailed to Americans continues to decline as more people opt for electronic filing.The IRS expects to process about 135 million individual tax returns in 2006 and to see continued growth for its e-filing service. The agency passed a milestone last year as more than half the nation's taxpayers filed their tax returns electronically.
February 13 -
More than half of all professional liability claims against accountants are tax-related, according to insurance industry executives. As accountants plunge ahead into their busy season, they should take note of their increasing exposure.Although audit malpractice claims are the highest in terms of severity, the most frequent claims are those for tax services, said Joe Wolfe, assistant vice president for risk control at CNA, in an interview last fall. CNA is the underwriter for the American Institute of CPAs' professional liability insurance program.
February 13