Practice Management

A coalition of Republican and Democratic lawmakers has introduced a trio of bills aimed at protecting access to medical marijuana under tax and banking laws, and changing the existing laws to reflect the medical efficacy of marijuana.

House Republicans introduced a 10-page document outlining their “Plan for America’s Job Creators Agenda,” including lowering the top tax rate for businesses and individuals from 35 to 25 percent and reforming the Tax Code to encourage U.S.-based businesses to repatriate their overseas profits.

Denis Field, the former chairman and CEO of accounting firm BDO Seidman, was convicted along with two attorneys from the law firm Jenkens & Gilchrist and a Deutsche Bank broker, of participating in a $7 billion tax shelter scheme that lasted a decade.

A bipartisan group of lawmakers has introduced a bill that would allow the Internal Revenue Service to share confidential taxpayer information with law enforcement to help track down missing children.

A majority of banking executives believe they will have a difficult time addressing the tax implications of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III accords, according to a new survey.

Enhanced pre-refund compliance checks would enable the Internal Revenue Service to help confirm taxpayers' identity, quickly and efficiently correct some errors with virtual certainty, and identify and audit some returns before refunds are issued, according to a new government report that fueled a debate in Congress over refundable tax credits.

The Internal Revenue Service found over 245,000 identity theft incidents last year, according to a new government report that assessed the IRS’s efforts to stem the growing problem, as victims testified before the Senate.

IMGCAP(1)]Meet the new IRS. The kinder, gentler IRS. It’s an agency with processes that are fast becoming structured, streamlined—and strangely quiet. Quiet, that is, except on paper.

The House Ways and Means Committee held a hearing Tuesday on how other countries have used tax reform to help their companies compete globally.

Massachusetts accounting firm Raymon Pielech Zexter PC will join Minneapolis-based accounting firm LarsonAllen, effective July 1.