Practice Management

The Internal Revenue Service has announced five director-level appointments in its Large and Mid-Size Business division, which serves corporations, subchapter S corporations and partnerships with assets greater than $10 million.

According to a new budget survey, while growing revenues should allow U.S. states to increase their 2006 revenue surpluses by nearly 25 percent, to about $57 billion, that figure will shrink in the upcoming fiscal year -- which began for most states on July 1. The conference said that by year's end, the aggregate surplus would be reduced by nearly 30 percent, shrinking to about $40 billion -- much of that drop due to the uncertainty of tax collections.

Cadence Design Systems Inc. said that it will protest the Internal Revenue Service's decision to seek $324 million in back taxes from the electronic design automation company.

Spokespeople for Senate Finance Committee Chairman Chuck Grassley, R-Iowa, are already saying that his take on an estate tax reform bill could be next on Congress's docket.

Net@Work, one of the largest Sage-only software resellers, announced that it has purchased Eagle Consulting Group, a top Sage Software MAS 90 and MAS 500 reseller in the tri-state area.

TEGRA Financial Partners, a subsidiary of Atlanta's Habif, Arogeti & Wynne LLP, announced that it has acquired pension-consulting firm Olson & Swenson Inc.

The Sage Group will acquire Tampa, Fla.-based Emdeon Practice Services Inc., which sells practice management software and patient data systems to doctors' offices.

The chairman of the Ways and Means Committee, which oversees the Internal Revenue Service, has urged the agency to reconsider its contracts with Computer Sciences Corp.

The Internal Revenue Service has again selected CCH to provide sales tax information for the 2006 filing period, providing the sales tax data for use by all taxpayers who file a 1040 return.

Officials of the Canada Revenue Agency and the United States Internal Revenue Service announced progress in unraveling an abusive cross-border tax scheme.