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The Internal Revenue Service provided advice to taxpayers Wednesday on dealing with the late opening of tax season on January 30 that could also prove helpful to tax preparers.

The Governmental Accounting Standards Board has released new standards aimed at improving the accounting and reporting of combinations and disposals of government operations for U.S. state and local governments.

Unfortunately, recent events make fundamental tax reform, already a heavy lift, much less likely.

While Section 179D of the Tax Code expires at the end of 2013, opportunities exist in two areas: accelerating future projects into 2013 and reviewing projects dating back to Jan. 1, 2006 that resulted in energy savings.

The American Institute of CPAs has written to the leaders of Congress’s tax-writing committees asking them to expand the replacement period for property loss for taxpayers affected by Hurricane Sandy.

XCM's Kim Hogan and Intacct's channel leader Taylor Macdonald urge practitioners, resellers, and even vendors to pay closer attention to what goes in to hiring and taking on new business rather than just the beginning and the end result.

The Internal Revenue Service reported that audits of individuals topped 1 million in fiscal year 2012 for the sixth year in a row, a coverage rate of 1.03 percent of all tax returns filed, while audits in the upper income ranges remained substantially higher than other categories.

The Internal Revenue Service reacted Tuesday to the surprise ruling Friday by a federal judge striking down the IRS’s authority to regulate tax preparers, shutting down its Preparer Tax Identification Number registration system and its testing system for tax preparers.

Executive hiring at cloud ERP and financial software provider Acumatica continues with the appointment of Oleg Shaikhatarov as its new vice president of software engineering.

CCH’s ProSystem fx Mobile App is now available for free download in time for tax season, allowing users to connect with client databases, view files and publish documents to clients’ portals with their iPhone, iPad and Android devices.