Practice Management

The American Institute of CPAs is pushing to improve the quality of employee benefit plan audits, in part by discouraging unqualified firms from offering the service, in advance of an upcoming report from the U.S. Department of Labor that is expected to find continuing problems with the quality of one-third of the audits.

Chicago plastics manufacturer Stefan Edlis faced more than $20 million in U.S. capital gains taxes by selling his Andy Warhol painting to billionaire Steven A. Cohen eight years ago.

A New Jersey CPA and lawyer has been sentenced to 27 months in prison for conspiring with a mortgage broker to extort and defraud police officers and other victims by falsely claiming they were the subjects of Internal Revenue Service criminal investigations that he could resolve if they paid up to $20,000.

Marc Rosenberg of Rosenberg Associates talks about ways to encourage growth in accounting firms and attract qualified staff, and the threats and dangers that firms confront if they become too complacent, in an interview with Accounting Today editor-in-chief Dan Hood.

The American Institute of CPAs has issued a set of questions and answers on the services a practitioner can provide in connection with the American Land Title Association’s Best Practices Framework for real estate settlement.

I had a client who had five sons and three daughters that worked in his business. Their ages ranged from 28 to 48. I was helping him with exit planning and suggested that I could possibly structure a transaction where either some or all of his children could buy his business.

A Miami resident has been charged with threatening to destroy the Internal Revenue Service building with either fire or a bomb.

H&R Block said Monday that two-thirds of tax filers among its client base who received health insurance coverage under the Affordable Care Act via the state or federal insurance marketplaces had to pay back an average of $729 of the Advance Premium Tax Credit, cutting their potential refund by nearly one-third.

An OECD initiative on tax evasion is causing ripples around the world

Some of our favorite recent tax fraud cases.