Practice Management

Commerce Bancorp Inc., parent to some 375 Commerce Bank branches in the New York, Philadelphia and Southeast Florida markets, has acquired online wealth manager eMoney Advisor for $32 million.

Treasury Secretary John Snow predicted that Congress would probably extend a number of tax cuts when it returns in session, according to reports.

Bolstering its presence in the Philadelphia market, BMC, a CPA and business consulting firm formerly known as Beard Miller Co., has merged in Paoli, Pa.-based McDade Abbott.

Mueller & Co., a Chicago-area CPA and financial services firm, has merged with Aurora, Ill.-based Nickels, Beilman & Co. effective immediately.

The Treasury Department and the Internal Revenue Service have issued final regulations regarding Sections 401(k) and 401(m) related to designated Roth IRA contributions.

Lois G. Lerner has been named director of the Exempt Organizations Division of the Internal Revenue Service. In this position, she will be responsible for administering and enforcing the tax laws that apply to more than 1.8 million organizations recognized by the IRS as exempt from tax.

In a strategy to boost its presence in the Philadelphia market, RSM McGladrey is in the process of acquiring the non-attest services, of King of Prussia, Pa.-based CPA firm Mantas, Ohliger, McGary & Quinn, according to documents obtained by WebCPA.

Americans avoided paying taxes on a record $1 trillion in income in 2003, according to a new federal government report.

The Internal Revenue Service announced the release of the fall 2005 issue of the Statistics of Income Bulletin.

The Congressional Budget Office recently released its long-term budget outlook. The report doesn't offer specifics in terms of a solution to the country's increasing debt burdens, but does point out a number of reasons why the current system won't be able to solve itself.