Practice Management

A new report from the Organization for Economic Cooperation and Development finds the gap between rich and poor in OECD countries has reached its highest level in more than 30 years, and the traditionally redistributive effects of progressive income tax systems have become less effective since the mid-1990s.

The Internal Revenue Service has reportedly backed away from plans to heavily penalize U.S. citizens and dual citizens living in Canada who may not have paid all of their taxes.

Now that McGladrey & Pullen has completed its acquisition of RSM McGladrey from H&R Block, the reunified firm no longer needs to say that it operates in an alternative practice structure.

BDO International said Friday the worldwide revenue of its network of accounting firms increased 7.36 percent for the year ended Sept. 30, 2011, to $5.672 billion, mainly due to growth in Asia, the Middle East and Africa.

Grant Thornton has finalized its deal to acquire the assets and practices of New England accounting and consulting firm CCR LLP, effectively acquiring the firm.

Senate Democrats and Republicans were unable to muster the necessary number of votes to pass two competing bills to extend the expiring payroll tax cut on Thursday night.

For those who had hoped that the Joint Select Committee on Deficit Reduction, aka the Supercommittee, would find a way to reduce the deficit, the announcement that they had failed to reach an agreement came as a disappointment.

Microsoft Dynamics Master VAR Tribridge has completed the purchase of the U.S.-based Dynamics enterprise resource planning and customer relationship management software business of ePartners, creating one of the largest Dynamics value-added resellers and business consultancies in the U.S.

The National Society of Accountants has found that the cost of preparing an itemized tax return averaged $233 across the country, but there was still variation in different parts of the country.

The National Society of Accountants is recommending that tax preparers not rush to sign up for the Internal Revenue Service’s upcoming tax preparation compliance exams.