Practice Management

Some of our favorite recent tax fraud cases.

In his weekly address on Saturday, July 26, 2014, President Obama criticized large corporations that employ tax inversion strategies saying, “They’re keeping most of their business inside the United States, but they’re basically renouncing their citizenship and declaring that they’re based somewhere else, just to avoid paying their fair share.”

The House fell only a few votes short of rolling back a requirement for companies with annual revenue below $250 million from filing their financial statements with the Securities and Exchange Commission in the data-tagged Extensible Business Reporting Language format.

A roundup of recent accounting firm mergers and acquisitions

Two Democrats on the Senate Finance Committee have introduced legislation to regulate paid tax preparers in response to the federal court decision that found the Internal Revenue Service had exceeded its statutory authority in regulating preparers.

The Internal Revenue Service announced that it anticipates opening the 2015 filing season as scheduled in January.

Large employers are increasingly putting an end to their most generous health-care coverage as a tax on “Cadillac” insurance plans looms closer under Obamacare.

The District Court for the Southern District of Ohio has upheld the Internal Revenue Service’s imposition of penalties totaling more than $1 million on an estate that failed to file its estate tax return on a timely basis and timely pay the estate tax it owed even though the estate attorney was battling cancer and lost her license to practice law..

The Internal Revenue Service has issued guidance on the mass transit tax break that was recently extended by Congress late last month when it passed long-overdue tax extenders legislation, along with a special administrative procedure to help employers cope with the last-minute retroactive extension.

Intuit has unveiled a free online resource to help tax professionals understand and prepare for the tax implications of health-care reform.