Practice Management

The Internal Revenue Service has outlined a safe harbor method to report a gain or loss for taxpayers who initiate deferred like-kind exchanges but fail to complete the exchange because a qualified intermediary defaults on its obligation to acquire and transfer the replacement property.

The Internal Revenue Service has released the 2010 update to its Allowable Living Expense Standards, which it applies to taxpayers who need to delay full payment of delinquent taxes.

The Internal Revenue Service is giving interested parties more time to submit comments on its recent proposal to require companies to disclose information about their uncertain tax positions.

Wipfli has reached an agreement to provide accounting, tax and consulting services to clients of American Capital LLC, a Chicago-based firm that specializes in providing tax and succession planning services to high-net-worth individuals and their businesses.

Rep. Sander Levin, D-Mich., has been chosen as acting chairman of the House Ways and Means Committee, a day after Charles Rangel, D-N.Y., took a leave of absence from the leadership of the powerful tax-writing committee.

After two years of paying down debt and skipping family vacations, many Americans cautiously intend to start spending their tax refunds once again.

Massachusetts tax attorney Kevin Kilduff, who formerly worked for the IRS Office of Chief Counsel, has been barred from practicing before the IRS for 48 months for failing to file a federal tax return and filing another five returns late.

IMGCAP(1)]The accounting field may appear at first to be almost the opposite of sales. After all, you’re not trying to get a hospital to buy the latest x-ray machine. But the truth is: If you’re in business, you’re in sales. That’s the only way you can sustain and grow your accounting practice.

Under pressure from Congress, the Internal Revenue Service has once again extended its moratorium on collection enforcement actions on certain types of tax shelter penalties.

House Ways and Means Committee Chairman Charles Rangel, D-N.Y., has temporarily stepped aside as chairman of the powerful tax-writing committee amid mounting calls for his resignation.