Practice Management

Democratic lawmakers on the House Ways and Means Committee have introduced a new bill intended to finance infrastructure investments to create jobs.

Three international accounting associations—Polaris International, Fidunion and IGAF Worldwide—are merging together to create one of the largest associations of independent accounting firms in the world.

Owning your own home opens the door to many tax-saving opportunities, and there are a dozen tax breaks that homeowners should know about, according to CCH.

House Ways and Means Committee Chairman Dave Camp, R-Mich., said Wednesday the Senate should act on the 1099 repeal bill approved by the House and send the bill to President Obama’s desk for his signature this week.

The Tax & Accounting business of Thomson Reuters has revised its RIA 2011 Federal Tax Handbook to include all information from the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010.

Recent policy changes in areas such as cost basis reporting, the Foreign Account Tax Compliance Act, and the Regulated Investment Company Modernization Act of 2010 are likely to create significant compliance, reporting and monitoring risks and consume resources as companies continue to move toward economic recovery, according to KPMG.

A bipartisan pair of senators introduced a bill Wednesday that would repeal the Volumetric Ethanol Excise Tax Credit, saying it would save taxpayers $6 billion.

A husband and wife have each been sentenced to 10 years in prison for a tax shelter scheme that spanned more than a decade.

The Internal Revenue Service has agreed with recommendations in a newly released government report urging the agency to increase its examinations of individual tax returns that report losses from rental real estate activity.

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