Practice Management

As many as 6 million U.S. taxpayers will have to pay a penalty of as much as 1 percent of income because they went without health insurance in part or all of 2014, the Treasury Department said.

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

Like the advent of the Internet, social media has proliferated in everything we do.

An ongoing pilot program from the IRS is offering an Identify Protection Personal ID Number to taxpayers who filed federal returns last year in certain states.

The IRS has announced the new members of its Advisory Council and its Information Reporting Program Advisory Committee.

The Affordable Care Act will have almost no effect on most taxpayers’ tax preparation and filing experience, according to federal officials.

Reznick Capital Markets Securities has officially changed its name to CohnReznick Capital Markets Securities and is now an affiliated company of the accounting, tax and advisory firm CohnReznick.

NetJets Inc., the private-plane company owned by Warren Buffett’s Berkshire Hathaway Inc., defeated a U.S. Internal Revenue Service effort to collect more than $366 million in taxes and penalties the agency said were past due.

A common mistake among retailers is selling based on price rather than on value, a retail industry consultant wrote recently. When retailers focus on price, it results in customers “cherry-picking the best item while avoiding the profit-filled add-ons,” said The Retail Doctor founder Bob Phibbs. “It’s like they go to the bargain matinee but never visit the concession stand.”

It’s often a challenge to get clients to open up when they come in for their annual appointment during busy season. Maureen Schwartz, executive director of the global public accounting firm association BKR International, offers these 10 conversation starters to ask your clients.