Practice Management

This may be the last time you see a reminder that the FBAR (Report of Foreign Bank and Financial Accounts) filing deadline of June 30 is fast approaching. That’s because, beginning in 2017, the annual FBAR filing will coincide with the April 15 income tax filing deadline.

Whenever I meet a new accountant, I always ask them, “Does your firm have a department specializing in Space Accounting?” It is surprising to me when they respond with expressions of confusion and bewilderment.

Publicly available data on e-filed 990s will now be available in a machine-readable format through Amazon Web Services, the IRS announced.

Sharing of information on business taxes by state tax authorities could improve business tax compliance, according to a new study.

Dan Loeb’s Third Point Reinsurance Ltd. said scrutiny of the industry’s offshore tax advantage has lessened after hedge fund manager John Paulson closed a venture that stood out as an “outlier” for its aggressive use of strategies that were criticized as abuses.

While Europe and global financial markets are consumed by the prospect of Brexit, business rolls on in Brussels.

Highlights of some of our favorite tax-related blogs from the past week.

Payments that a business makes are generally deductible if they are “ordinary and necessary” under Internal Revenue Service regulations unless, that is, they are specifically denied deductibility.

A House committee voted Wednesday to censure Internal Revenue Service Commissioner John Koskinen over Republican claims that he obstructed an investigation into whether his agency targeted conservative groups seeking tax-exempt status.

The cost of compliance with the ever-growing Tax Code costs U.S. taxpayers a total of 8.9 billion hours and $409 billion, according to new research.