Practice Management

The Internal Revenue Service and the Treasury Department issued a notice that allows taxpayers to make corrections for operational failures in complying with rules for nonqualified deferred compensation, but only when the failures are unintentional.

Adding to its continuing professional education portfolio, Thomson Tax & Accounting has acquired AuditWatch, a high-profile audit-training and process improvement consulting firm headquartered in Reston, Va.

International accounting firm Mazars has created a new law firm out of the four independent European law firms that previously served it.

The National Association of Enrolled Agents is calling on the Internal Revenue Service to look into problems with the timing of its correspondence audits of taxpayers.

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.

Mark Everson, the former Internal Revenue Service commissioner, has been ousted by the American Red Cross board as its president and CEO after the organization learned of a relationship with one of his employees.

LeMaster Daniels has acquired Abramson Pendergast & Co., another CPA firm based in Washington State.

YellowPages Corp. has launched an online directory listing of accountants at AccountantYellowPages.com.

The Internal Revenue Service Oversight Board has sent a letter to the leaders of the Senate Finance Committee saying it is "gravely concerned about the serious risks to the 2008 filing season" if legislation to change the alternative minimum tax is delayed much longer.

The Internal Revenue Service has issued the optional standard mileage rates for calculating the deductible costs next year of operating an automobile for various purposes.