Practice Management

The IRS issued the final Tangible Property Repair Regulations for Sections 162(a) and 263(a) last Friday, modifying and superseding the temporary regulations that were issued on Dec. 23, 2011.

The Internal Revenue Service’s estimate of the so-called “Tax Gap,” the difference between taxes owed and taxes paid voluntarily and on time, needs to be more accurate, reliable, comprehensive and timely, according to a new government report released to the public Monday by the Treasury Inspector General for Tax Administration.

Thomson Reuters has released the FATCA Essentials library as part of its Checkpoint online research service, providing information on the Foreign Account Tax Compliance Act.

Sikich LLP has agreed to merge with the St. Louis-based firm O’Donnell, Bonebrake & Co.

The Internal Revenue Service is providing guidance on the application of the market reform provisions of the Affordable Care Act to health care arrangements such as health reimbursement arrangements, employer payment plans and flexible spending accounts.

The Internal Revenue Service said Friday that approximately 4,000 plan sponsors received erroneous penalty notices.

As tax reform efforts resume in Washington this month, a new survey finds that over 70 percent of business tax professionals believe a detailed tax reform plan will begin to be worked on by the House Ways and Means Committee this year, and nearly 50 percent of the respondents think a tax reform plan will be put forward in the Senate.

A former Internal Revenue Service manager has been sentenced to a year in prison after she was convicted of accessing IRS computers on behalf of a tax business that she operated on the side.

IMGCAP(1)]Reseller partners are buying while cloud accounting is flying with a veteran tax and accounting executive trying to take a long-standing player in that space to the next level. All of these topped the news in our world this week and I’d like to share my views on them with you.

U.S. Wealth Management CEO John Napolitano talks with Accounting Today editor-in-chief Daniel Hood about how accounting firms can build their financial planning practices and become successful at offering some nontraditional services to clients.