Practice Management

More than half of U.S. and European multinational companies will increase their compliance spending by an average of 23 percent over the next 12 to 24 months, according to a recent survey from Big Four firm PricewaterhouseCoopers.According to PwC's Management Barometer Survey, about 51 percent of those polled said that they would raise spending on compliance, while some 44 percent of senior executives revealed that their companies do not have a clear view of their total compliance spending.

As part of efforts to tighten ethical standards for tax professionals and curb abusive tax shelters, the Treasury has issued final regulations amending Treasury Circular 230, which governs the practice of attorneys, accountants and other tax professionals before the Internal Revenue Service.

With tax day fast approaching, CPAs may be feeling stressed. However, they may be able to make their own lives, as well as those of their small business clients, a little less tense by encouraging those clients to consider certain business expenditures before the upcoming tax season, according to Hewlett Packard and H&R Block.

Regional firm Kahn, Litwin, Renza & Co., based here, is expanding into Newport with the merger of Casten, Victor & Co. into its fold.

Accounting and business consulting firm Citrin Cooperman & Co. has plans to merge Brewster, N.Y.-based CPA firm J.P. Bryan & Co. into its fold.

The Internal Revenue Service has teamed with the Department of Housing and Urban Development in an effort to expand the agencies' outreach to low-income taxpayers.

Interface Software, which makes the Interaction CRM software line for the professional services market, has been acquired by LexisNexis.

Two consultants to the profession have launched a consulting firm that will help accountants with succession planning and mergers and acquisitions.

Putting to rest rumors that he would replace John W. Snow as Treasury Secretary, President Bush has reportedly asked Snow to remain in his cabinet.

President Bush this week signed into law a less intrusive version of a sweeping $388 billion legislative package that covers the spending of early every federal agency.