Practice Management

A proposal to drastically cut or abolish state income taxes in Georgia and replace them with higher sales taxes would raise taxes on up to 80 percent of Georgia taxpayers and spike Georgia's average state and local sales tax to as high as 14.5 percent, according to a new study.

The American Institute of CPAs has sent a comment letter to the Internal Revenue Service and the Treasury Department highlighting potential problems for international tax entities from the IRS’s proposed regulations related to the net investment income tax.

The Internal Revenue Service is required to notify taxpayers of their rights when requesting an extension of the statute of limitations for assessing additional taxes and penalties, but might not always notify them or their representatives, according to a new report.

A pair of Senate Democrats have introduced legislation to end unlimited tax write-offs on performance-based executive pay, allowing publicly traded corporations to deduct only up to $1 million in pay per employee.

Aronson LLC has acquired SpringReef Partners, a consultancy firm that offers wealth management services to high net worth families.

The Internal Revenue Service has finalized regulations governing certain transfers of property to regulated investment companies and real estate investment trusts.

The Internal Revenue Service has issued guidance on the branded prescription drug fee for next year.

A Los Angeles-area tax preparer has been arrested on charges of filing false claims for tax refunds.

New York Governor Andrew M. Cuomo announced a new initiative Monday to encourage individuals who owe significant back taxes to the state to pay their bills by suspending their New York State driver licenses when their past-due tax liability exceeds $10,000.

Bernard Robinson & Co. of Greensboro, N.C., has entered the Raleigh, N.C. market with the addition of Furr & Newell.