Practice Management

The Obama administration released its fiscal year 2017 budget containing a number of tax increases on high-income taxpayers, oil and foreign income, along with tax breaks for the middle class and small businesses, plus a provision giving the Treasury Department the explicit authority to regulate all paid tax preparers.

Progressive accounting firms seek consulting opportunities so their firms can take advantage of more lucrative advisory service offerings.

Some partners in hedge funds, private-equity firms and other businesses organized as so-called pass-throughs would pay a 3.8 percent income tax under President Barack Obama’s 2017 budget request.

A former Internal Revenue Service revenue agent is facing trial this week for soliciting and receiving a bribe from the owner of a Seattle marijuana dispensary.

The Internal Revenue Service has issued inflation adjustments for several tax breaks involving schoolteacher expenses, transit fringe benefits and Section 179 expensing of certain depreciable assets.

Morison International and KS International have merged to form a $1 billion international association of accounting and professional services firms to be known as Morison KSi.

With many of the largest U.S. college endowments at record values, two congressional committees that determine tax policy jointly opened an inquiry about how the wealthiest schools manage and spend those funds.

Congress’s passage of legislation last December making many expired tax breaks permanent adds an extra measure of certainty for tax preparers helping their clients with tax planning this year.

Klatzkin & Co.’s Stephen Klein shares the biggest mistakes business owners make

The Internal Revenue Service needs to have better processes in place to administer its federal unemployment tax program, according to a new report.