Practice Management

Before departing on its holiday break, the Senate left a number of important issues unresolved, including the fate of the unemployment extension and tax extenders legislation, not to mention the financial reform bill.

The Internal Revenue Service has won an appeal against a CPA who was disbarred for failing to exercise due diligence in preparing business and individual tax returns for a corporation owned by a husband and wife who claimed improbably low incomes.

The Federal Tax Authority, a private company that aims to make it easy for online merchants to collect sales tax, has launched TaxCloud, a free sales tax calculation and remittance service.

A government report found security weaknesses at the facilities operated by eight Internal Revenue Service contractors, placing confidential taxpayer information at risk of unauthorized access and disclosure.

The Internal Revenue Service is cautioning taxpayers about restrictions on home mortgage interest deductions.

Eligible taxpayers who contracted to buy a home, qualifying for the First-Time Homebuyer Credit before the end of April, now have until Sept. 30, 2010 to close the deal, according to the Internal Revenue Service.

Accounting and consulting firm Condley and Company LLP’s Banking Services Group has debuted a new iPhone application and website.

IntelliConnect, the tax research system from CCH, has added many new features that enable researchers get to their answers faster and more effectively.

The House has passed legislation to extend unemployment benefits through the end of November.

The Internal Revenue Service is asking for public comments on how to most effectively carry out a law that will require businesses to report a wider range of payments to contractors, vendors and others, usually on Form 1099, starting in 2012.