Practice Management

Reminiscent of donor-advised funds, the Internal Revenue Service has ruled that contributions can qualify as charitable deductions for both income and gift tax purposes even if the donor retains the right to manage the investment for the charity.

The Internal Revenue Service has raised the standard business mileage rate for automobile expenses for 2005 by three cents -- the largest one-year rise ever.

Tax reform under a second Bush Administration will most likely take the form of piecemeal tax cuts, according to panel participants at a conference of the Council for Electronic Revenue Communication Advancement, a government-private industry trade association.

Three months after it announced that it planned to shed its Intuit Public Sector Solutions arm, tax and accounting software concern Intuit Inc. agreed to divest the nonprofit unit to San Diego-based Kintera in an $11 million cash deal.

The Internal Revenue Service scored high marks for processing returns and issuing refunds smoothly during the 2004 filing season, but didn't fare as well on accuracy in answering tax law questions, according to a Government Accountability Office report.

Top-ranked firm Crowe Chizek & Co. plans to expand its public sector services group with the addition Oak Brook, Ill.-based accounting and consulting firm PTW to its fold.

In an effort to bolster its payroll outsourcing services, Best Software acquired Dallas-based Federal Liaison Services Inc., a maker of software and services that automate payroll tax payments and filings, wage garnishments, and W-2/1099 processing for employers.

Regional CPA and business consulting firm Eide Bailly has expanded into the Boise, Idaho, market, adding the seven-partner group of Balukoff, Lindstrom & Co. under its umbrella.

Top-ranked firm Larson, Allen, Weishair & Co. LLP has merged Bullard, Blanchard, Johns PLLC into its fold, boosting its presence in Charlotte.

The Internal Revenue Service has selected three new members for its Electronic Tax Administration Advisory Committee, the body that serves as a public forum for discussion of electronic tax administration issues.