Practice Management

The Internal Revenue Service's Office of Professional Responsibility said it has settled a case involving two attorneys and a $31 million bond issuance in Spokane, Wash.

The Tax Court issued a summary opinion acknowledging that a woman who owned a trucking business took her slot machine playing seriously enough to qualify her as a professional gambler.

The Internal Revenue Service issued a revenue procedure that describes the conditions under which changes to certain subprime mortgage loans will not cause the Internal Revenue Service to challenge the tax status of certain securitization vehicles holding the loans.

Private sector employment increased by 189,000 in November, according to a report by payroll processor ADP, which sent stocks sharply higher on Wednesday.

Accounting firm Grant Thornton signed a deal to purchase the assets of Goldenberg Rosenthal’s GR Consulting business.

Tax pros have their own rituals for getting ready for tax season, including checking supplies, test-driving software, training staff, sending out organizers, and wrapping up year-end planning tips for their clients.

Senate Finance Committee Chairman Max Baucus, D-Mont., and House Ways and Means Committee Chairman Charles Rangel, D-N.Y., unveiled a $21 billion package of energy tax legislation that Congress will consider this year, although opposition is expected from the White House as the bill would raise taxes on major oil and gas producers.

The Financial Accounting Standards Board has issued two statements as it continues on the road to international convergence: on business combinations and on noncontrolling interests in consolidated financial statements.

Those who regularly read the Revenue Enhancers department in Practical Accountant are familiar with the Outside the Box section written by Jeff Stimpson. For those who aren’t, here’s a flavor.

Tax prep firm Gilman Ciocia has acquired Madison CPA, a Fort Lauderdale accounting firm.