Practice Management

The Internal Revenue Service is sounding the alarm about a new scheme in which scammers send emails purporting to come from tax software companies, instead fooling tax preparers into clicking on a link that will load malware on their computers.

The Internal Revenue Service has closed an eight-year exam of about $300 million of tax-exempt bonds issued for The Villages, one of the world’s largest retirement communities, without imposing a penalty, according to a filing by the development districts that issued the debt.

The Internal Revenue Service is recommending tax professionals monitor their Preparer Tax Identification Numbers for signs of suspicious activity.

Grant Thornton’s new chief operating officer, Jim Brady, plans to execute the firm’s strategy and expand its presence in advisory services such as cybersecurity and strategic consulting.

The Tax Court held a husband and wife who supplied information to the Internal Revenue Service are entitled to a full 24 percent of the “collected proceeds,” which includes a criminal fine and civil forfeitures to the government, not just tax restitution.

How can a CPA firm differentiate itself?

The Internal Revenue Service has issued a revenue procedure saying a charitable remainder annuity trust that includes a sample provision in its governing agreement won’t be subject to a test that could disqualify it.

When Donald Trump first rolled out his tax plan last October, it contained a major boon for the middle-class—a near quadrupling of the standard income-tax deduction, to $25,000 for individuals and $50,000 for couples filing jointly.

Small-business and manufacturers’ groups praised a proposal by Republican presidential candidate Donald Trump to take the U.S. federal corporate tax from the highest to one of the lowest among developed nations.

Thomson Reuters has added content to its Checkpoint Catalyst tax and accounting research service on passive foreign investment companies and sales and use tax exemptions for manufacturers.