Practice Management

The Internal Revenue Service will offer special relief to taxpayers in the disaster areas struck by Hurricane Katrina.

The 12th meeting of the President's Advisory Panel on Federal Tax Reform will be held on Sept. 15 in Washington.

Eyeing the niche school audit market, two small accounting firms in Georgia and Ohio recently announced their merger.

Completing a two-year project to shutter abusive transactions of 412(i) plans and other arrangements, the Treasury and the Internal Revenue Service have issued final regulations clarifying that any life insurance contract transferred from an employer or a tax-qualified plan to an employee must be taxed at full fair market value.

Minnesota's Department of Revenue will give residents who have used abusive tax shelters until Jan. 31 to amend their tax returns without facing new penalties passed during the 2005 special legislative session.

The 11th meeting of the President's Advisory Panel on Federal Tax Reform will be held on Sept. 8 in Washington.

The Defense Base Realignment and Closure Commission Defense voted to consolidate 26 defense finance and accounting service centers into five locations, two more than originally proposed by the Pentagon.

The U.S. Treasury Department and Internal Revenue Service announced proposed regulations that provide further guidance to Section 482, which determines taxable income in connection with cost-sharing arrangements affecting intellectual property.

A Council On State Taxation representative told the National Conference of State Legislatures they should expect a hearing before the Senate Finance Committee this fall.

A recent report from Government Accountability Office says that the Internal Revenue Service needs to establish a more "results-oriented approach" to reducing the tax gap -- the difference between taxes owed and taxes paid in the country.