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KPMG has acquired the U.S. assets of Thomson Reuters’ ONESOURCE Indirect Tax Managed Services business.

The Internal Revenue Service has introduced a new online tool for taxpayers who need to repay their First-Time Homebuyer Tax Credit.

Employees of Tuscaloosa, Ala.-based accounting firm JamisonMoneyFarmer will be showing their support for Children’s Hospital Thursday afternoon by displaying red bows purchased for Paint the Town Red for Fuller.

Cloud-based accounting software provider Xero has completed a $20 million round of financing through a placement to existing strategic investors, which will allow the company to expand its global reach, particularly in Australia, the U.K. and the U.S.

Citibank recently confused many of its customers by mailing tax forms to those who received free airline frequent flier miles because they opened a bank account.

A year-end economic report by the National Small Business Association indicates a more positive economic outlook for small businesses in the U.S.

IMGCAP(1)]The Tax Court’s decision last month in the case of Peco Foods, Inc. & Subsidiaries, v. Commissioner of Internal Revenue (T.C. Memo 2012-18) caused waves of angst amongst tax practitioners and cost segregation professionals alike.

Sen. Sheldon Whitehouse, D-R.I., has introduced legislation to implement President Obama’s proposal in his State of the Union speech that millionaires should pay at least a minimum 30 percent income tax rate.

Comedienne Betty White is helping pitch life settlements as a way for Baby Boomers to help fund their retirement.

The cost estimates for an Internal Revenue Service program for matching data from tax returns with third-party information returns, which was used to justify the program’s projected budget of $115 million for fiscal years 2012 to 2016, “generally does not meet best practices for reliability,” according to a new report from the Government Accountability Office.