Practice Management

As a general rule, the cost of commercial real estate improvements is recovered over a painfully long period of 39 years via straight-line depreciation only.

Could those Form 4868 extensions that you’re filing for your clients turn tax procrastinators into prey?

While you’re spring cleaning at home, why not do the same for your business? That’s right, it’s the season for some maintenance and a springtime tidying up of your accounting firm’s website.

The Tax Foundation has released a report on proposals to integrate the corporate and individual income tax codes and how they might work in the context of congressional tax reform.

Liberty Tax Service has developed an executive task force to examine issues within the company “and take aggressive action” to ensure all franchisees meet the tax prep giant’s standards.

Industry consultant Allan Koltin once shared a statistic that probable client retention rates were 81 percent for clients using four services from their financial services provider, compared with 12 percent for clients using just one service. This indicates that accountants can benefit when clients utilize more services from the firm.

The House passed a bill Thursday prohibiting bonuses for IRS employees until the Treasury develops a better customer service strategy, the last of six bills passed this week affecting IRS bonuses, hiring practices and policies.

The Internal Revenue Service’s expanded use of controls this tax season to identify fraudulent refund claims before accepting them into its processing system has allowed the IRS to identify approximately 35,000 fraudulent e-filed tax returns and 741 paper tax returns as of Feb. 29, 2016, according to a new government report.

A senior Treasury Department official in charge of international tax policy is seeing a greater role being played by the Group of 20 finance ministers in setting the agenda for tax laws around the world.

The Senate Finance Committee passed legislation Wednesday to protect taxpayers from identity theft and tax fraud, but without a provision for regulating tax preparers.