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As part of the IRS's continuing efforts to require greater disclosure of tax positions and strategies on returns, it recently released new, mandatory disclosure rules for grouping passive activities. Rev. Proc. 2010-13 for the first time mandates that passive-activity groupings and regrouping, as required under Code Sec. 469 regulations, be disclosed on the taxpayer's return.
February 15 -
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New York - Multinational accounting and advisory firm Mazars Group has been in talks with New York-based accounting firm Weiser LLP in a merger that would create the sixth largest accounting firm in the world.
February 15 -
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Preparing for your first tax season can be a challenging task. While most have the technical knowledge to do the work, they often lack the confidence that experience provides. To help those facing their first tax season, I sat down with Erich Holmes, senior accountant in the Tax Services Department at Rea & Associates in Medina, Ohio. Erich has four years of experience in public accounting and he focuses on providing income tax services for individuals, partnerships and corporations.
February 15 -
The California Society of CPAs has signed on as one of the sponsors of a statewide media campaign that aims to raise awareness of the opportunity for California taxpayers to make a charitable gift while completing their state tax returns.
February 12 -
The Internal Revenue Service needed to scramble to implement various provisions of last years Recovery Act to boost the economy as quickly as possible, but it now has to improve its enforcement and reporting to safeguard against abuses, according to a government report.
February 12 -
Sen. Sherrod Brown, D-Ohio, has introduced a bill that would tax more Wall Street bonuses than similar legislation introduced a week ago.
February 12 -
Senate Majority Leader Harry Reid, D-Nev., has unveiled a stripped-down version of the draft jobs legislation that was proposed only hours earlier by the bipartisan leaders of the Senate Finance Committee.
February 12