Practice and client management

The Internal Revenue Service has increased the maximum pre-tax contribution limit for 401(k) and 403(b) retirement plans, most 457 plans, and the federal government’s Thrift Savings Plan by $500, from $16,500 to $17,000, as a result of cost-of-living adjustments.

A former Bronx tax preparer has been sentenced to three years in prison for preparing false tax returns.

IMGCAP(1)]Twice in the last three years, the IRS has offered taxpayers with undisclosed foreign assets an opportunity to voluntarily disclose the unreported assets, pay back taxes and penalties, and avoid more severe penalties and criminal prosecution.

One day after verbally scuffling with fellow GOP Presidential hopeful Mitt Romney, Gov. Rick Perry called for implementing a flax tax in what many saw as a preview of his economic policies.

The Internal Revenue Service is reportedly auditing Google in an effort to learn more about the search giant’s use of foreign subsidiaries to shift profits in the wake of three acquisitions.

IMGCAP(1)]Mobile has become a way of life, and with the proliferation of advanced devices, it’s easier than ever to work on the go.

The Internal Revenue Service has delayed a new tax return transcript delivery system that was scheduled to debut Monday.

Internal Revenue Service Commissioner Doug Shulman issued a dire warning to Congress about the effects of steep budget cuts on the agency’s enforcement ability and services.

IMGCAP(1)]Golf is a wonderful game. Whether you play casually with family or friends or play golf for business, you don’t have to be a great player to enjoy the game. And there are some lessons to be learned from the game in the world of accounting.

The former and current managing partners of super-regional CPA and business advisory firm Plante Moran have released “Succession Transition: A Roadmap for Seamless Transitions,” a book that offers an inside view of strategies to cultivate staff members into leadership positions.

Following a scathing report by the Center for Public integrity, which revealed that the Department of Defense lacks any mechanism to shows how the billions in taxpayer dollars are spent, the agency pledged to clean up its accounting practices by 2017.

As with most legislation, the recently derailed American Jobs Act included some good ideas, some bad, and some that were mere political posturing. But now that it has been defeated in the Senate, the focus is on what parts of it might survive in separate future pieces of legislation.

The Internal Revenue Service has sent out an advisory to tax preparers and tax firms that do not have Electronic Filing Identification Numbers to obtain EFINs in order to meet the 2012 e-file mandate.

IMGCAP(1)]LinkedIn Groups can be a great way for you to expand your reach and meet others in your industry, referral sources and potential clients. Here are some tips that you may find useful.

The Internal Revenue Service mistakenly sent notices to approximately 80,000 taxpayers telling them they needed to repay the First-Time Homebuyer Tax Credit.

Senate Republicans blocked President Obama’s jobs package with its extension of the payroll tax cuts and unemployment insurance, tax credits for new hires and wage increases, and surtax on millionaires.

A few blocks away from the Accounting Today offices, the Occupy Wall Street movement is encamped at Zuccotti Park in New York.

The American Institute of CPAs has written to the leaders of Congress’s main tax-writing committee urging them to repeal a requirement that would soon force federal, state and local governments to withhold 3 percent on the payments they made to most government contractors, including certain other payments such as Medicare.

The Internal Revenue Service has expanded its compliance program for the Earned Income Tax Credit to cover a broader base of both new and experienced tax preparers in an effort to prevent errors and misrepresentations.