Practice Management

The Justice Department said Friday that British Petroleum has agreed to pay a record-breaking $18.7 billion settlement to resolve claims related to the Deepwater Horizon oil spill in the Gulf of Mexico in 2010, but advocacy groups are warning that the settlement is largely tax deductible for BP.

The Federal Trade Commission says that 2014 marked the fifth consecutive year that tax-related identity theft was the most common form of reported identity theft.

Is turning out the lights an option?

Are loan preparation services an option for your practice?

In the wake of high-profile data breaches at the Internal Revenue Service and other federal agencies, a new government report warns the IRS against expanding its online customer service options before completing key technology upgrades.

Small business groups are sounding a warning about an obscure Internal Revenue Service rule that takes effect Wednesday imposing heavy fines on small businesses for helping defray the cost of their workers’ insurance or medical expenses.

Check out the digital edition of the July 2015 issue of Accounting Today.

Jeb Bush made $29 million in the first seven years after he left public office, dramatically increasing his wealth during a recession, a financial crisis and the Obama presidency he has criticized.

Now that the school year has ended, it is time to consider childcare and taxes during the summer months.

The District Court for the Northern District of Ohio denied a couple’s theft loss deduction for the worthless stock they acquired as part of a “pump and dump” scheme.