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Approximately 7,000 Medicaid providers in three selected states—Florida, New York, and Texas—had an estimated $791 million in unpaid federal taxes from 2009 or earlier, but nonetheless received about $6.6 billion in Medicaid reimbursements that year, according to a new study by the Government Accountability Office.

The owner of a California medical marijuana dispensary was found to have underreported income. Moreover, he was precluded from deducting most of the expenses he claimed because the business consisted of trafficking in controlled substances.

Employers added 163,000 jobs last month, the U.S. Bureau of Labor Statistics reported Friday, but the unemployment rate nevertheless increased a tenth of a percentage point to 8.3 percent.

A proposal by the Obama Administration regarding grantor trusts has estate planners on edge as they ponder its implications.

An Internal Revenue Service employee who owned a Sears Hometown Store on the side has pleaded guilty to concealing records in a U.S. Department of Labor investigation of his retail employees’ wages and hours.

The American Institute of CPAs has written a letter to the Internal Revenue Service, recommending that the IRS delay matching the basis information the law requires brokerage firms to report about taxpayers’ capital gains and losses with what taxpayers report on their income tax return.

The House passed Republican-sponsored legislation Thursday to streamline congressional procedures and pass comprehensive tax reform next year.

The Senate Finance Committee approved legislation Thursday extending dozens of tax cuts known as tax extenders, including the alternative minimum tax patch, which have either expired or are scheduled to expire at the end of the year, while paring back approximately 25 percent of the traditional tax breaks in the name of tax reform.

Mark Cohen returns as director in the firm’s Financial Advisory Services division

There were nearly four times the number of changes in indirect taxes such as sales and use taxes and value-added taxes around the world in the second quarter of this year, compared to the same period last year, according to a new report.

Recent network memberships, awards, new Web sites and more from accounting firms across the country

Inventory control software provider Fishbowl plans to release Fishbowl Inventory 2012+ on Aug. 9, which will make some of the software’s inventory features accessible for the first time from the cloud.

Identity theft is having a much larger impact on tax administration than the amount the Internal Revenue Service detects and prevents, according to a new report.

Recent promotions, new hires and more

When a business owner searches for an accountant, the choice is not so simple. Financial services—despite what some of your tax-only clients may believe—is far from a commodity. And in many cases, location and even price are immaterial. What, then, is the best way to acquire clients and improve client retention?

Senator Marco Rubio, R-Fla., has introduced legislation to exempt U.S. Olympic medal winners from paying taxes on the medals that they win.

The House voted Wednesday to approve a Republican-sponsored bill to extend the current tax rates for all income levels for an additional year, rejecting the Democratic alternative passed by the Senate last week that would have only extended the tax cuts for household incomes under $250,000 a year.

The Professional Segment of the Tax & Accounting business of Thomson Reuters saw sales growth of 22 percent this year in its accounting and practice management product lines compared to the same period last year.

A Senate committee held a hearing Wednesday to discuss legislation requiring Internet retailers to charge their out-of-state customers sales taxes.