Practice Management

The Internal Revenue Service has improved its audits of high-income taxpayers but needs to re-evaluate whether the threshold of $200,000 for auditing wealthy taxpayers efficiently uses the agency’s examination resources, according to a new report.

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

The Treasury Department and the Internal Revenue Service have outlined additional steps they are taking to reduce the tax benefits of corporate inversions, and when possible, stop the transactions from occurring.

IRS budget woes are the top priorities for Andy Mattson, recently appointed AICPA committee chair of the IRS Advocacy & Relations Committee.

The Internal Revenue Service has provided retailers and restaurateurs with a safe harbor of accounting for expenditures related to repairs, remodeling and refreshes.

Fast-growing CPA firm O’Connor Davies, LLP is adding Stanley Marks & Company, LLP, a full-service accounting firm based in Newburgh, N.Y.

RSM announced the signing of a definitive agreement to acquire substantially all the assets of national technology consulting firm Junction Solutions.

The Internal Revenue Service is beginning the next round of its battle against tax-related identity theft by debuting a public awareness campaign to persuade more taxpayers to safeguard their personal information, in conjunction with tax preparation companies and state tax authorities.

Smart Devine, a regional CPA firm in Philadelphia, is joining Top 100 firm Marcum LLP, based in New York.

The U.S. Treasury Department plans to release additional guidance this week aimed at deterring corporate inversions, though it can’t stop such tax-avoidance moves without new authority from Congress, Secretary Jacob J. Lew said.