Practice Management

Citing pressures created by the nation's current and projected budget deficit, a growing long-term fiscal imbalance and a heavier workload that may impair its ability to serve its mission to Congress, the Government Accountability Office has requested a 2008 budget of $530 million – an 8.5 percent rise over the previous year’s funding levels.

Financial and accounting services staffer AccountAbilities Inc. has agreed to acquire California-based ReStaff Services, a staffing company that operates under the name Staffing.com and generates annual revenues of roughly $20 million.

Backed by a 20-year resume in claims experience, Redwood City, Calif.-based Camico Mutual Insurance Co. has identified the areas and sources of frequent tax claims lodged against CPAs.With tax season in full swing, here are some of the fruits of the company's experience with practitioner claims - and things to watch for as you wade through all those 1040s.

IRS HELPS CITIZENS ABROADWASHINGTON - The Internal Revenue Service and the U.S. Treasury have released guidance on the estimated tax penalty for citizens or residents of the United States living and working abroad.

While an administration and Congress may differ on the tax proposals that they want to see passed, especially when each is controlled by a different political party, there often are some areas of agreement. In addition, certain provisions may become acceptable as tradeoffs. Still others make it into law due to issues that may spark widespread public attention.President Bush's tax proposals within his fiscal year 2008 budget - contained in the Treasury's general explanation of the administration's FY 2008 revenue proposals (a.k.a. the "Blue Book") - have something to fit each category.

Without clients, we wouldn't have a firm - but without employees, we wouldn't have clients.So when it comes to answering the question of whether it is more important to have client or employee loyalty, I would have to answer that employee loyalty and satisfaction is more important.

The Internal Revenue Service needs to do a better job of reviewing the non-cash charitable contributions deductions taxpayers are claiming.

The Internal Revenue Service has posted the 2006 Data Book on its Web site.

With many of its players accruing lengthy rap sheets, charged with felonies ranging from illegal firearms possession to sexual assault, it would be safe to say the National Football League has been battling something of an image problem of late.

The measures to close the tax gap offered by President Bush in his 2008 budget are somewhat modest, according to observers.The president's $2.9 trillion budget contains a number of legislative proposals to close the gap in four areas: by expanding information reporting, improving compliance by businesses, strengthening tax administration and expanding penalties.