Practice Management

With the April 2016 tax filing season behind us, it is time to start focusing clients on new tax issues they will be facing for the current tax year.

Ever-evolving regulatory complexity, coupled with an increasingly competitive marketplace, globalization and the rise of part-time and casual employees make it more difficult than ever for growing businesses to keep up with the numerous changes in the law, risking costly noncompliance.

The state tax arena is filled with variation, complexity, confusion and ambiguity, which has major implications for U.S. corporations, according to findings from Bloomberg BNA’s 2016 Survey of State Tax Departments, conducted for the 16th consecutive year.

The New York State Society of CPAs will be holding its first ever Sustainability Investment Leadership Conference on May 6. This is a new area that could result in substantial involvement by CPAs.

The Internal Revenue Service has released final regulations providing guidance to private foundations on program-related investments.

A pair of Senate Democrats, Chuck Schumer, D-N.Y., and Maria Cantwell, D-Wash., are urging their colleagues to increase the Low-Income Housing Tax Credit by 50 percent.

The two top Sprint Corp. executives who were caught up in a tax-shelter scandal in 2003 now blame the Internal Revenue Service for losing their jobs.

Some of our favorite recent tax fraud cases.

Last week the Tax Court, in a case of first impression, ruled that payments made by a decedent through a trust to pay premiums on life insurance policies obtained to fund buy-sell agreements should not be regarded as loans still owed to her estate.

The Treasury Inspector General for Tax Administration issued an alert Friday warning that it has received information that callers impersonating IRS employees or the Treasury Department are demanding payments on iTunes Gift Cards.