Practice and client management

IMGCAP(1)]It goes without saying that over the past 10 years, technology and social media have changed the way we do business.

CBIZ MHM is realigning its tax consulting business under a new initiative that centralizes four of the firm’s specialty tax service lines.

Thomson Reuters has received a U.S. patent for its Universal Tax Determination Engine, which provides centralized control of tax policy and data-driven tax determinations for sales, use and value-added taxes.

The Senate voted Thursday to approve an amendment to repeal a tax credit for ethanol blenders.

CCH has expanded its Tax Prep Partner Series of online tax research products with a new Information Returns title.

The Internal Revenue provided an additional extension Thursday on the requirements for filing a form disclosing a foreign bank account until Nov. 1, 2011, for those who had signature authority over, but no financial interest in, the account in 2009 or earlier calendar years.

Smolin Lupin’s accountants and consultants plan to host a free symposium for business owners next Thursday on how to avoid business problems.

The IRS’s Electronic Tax Administration Advisory Committee released its 2011 Annual Report to Congress during a public meeting Wednesday, with recommendations in areas ranging from security to tax simplification and greater collaboration with e-filers.

New statistics released by the Internal Revenue Service showed that the number and percentage of taxpayers earning over $200,000 a year who owed no U.S. income taxes nearly doubled from 2007 to 2008.

House Ways and Means Committee Chairman Dave Camp, R-Mich., has released a public letter he sent to the Internal Revenue Service demanding information about its recent investigation into donations to politically active tax-exempt organizations and the agency’s apparent drive to impose gift taxes on these monies.

A bipartisan group of lawmakers in Washington is co-sponsoring legislation and demanding an independent probe to stop the government and a trustee from suing innocent victims who invested in Bernard Madoff’s Ponzi scheme.

The Senate vote Tuesday on repealing the Volumetric Ethanol Excise Tax Credit failed, but it could be a sign of things to come as the tax reform debate heats up in the midst of talks to raise the debt limit.

Knowing and communicating the value of you and your firm to both existing and prospective clients can often be the critical elements that help not only strengthen client relationships and win new business, but differentiate your practice from the competition.

IMGCAP(1)]There are certain topics that when brought up in conversations will usually elicit strong opinions supporting one side or the other.

With the early waves of Baby Boomer partners retiring or getting ready to hand over the keys to the firm, a diverse panel of partners and firm owners said constant communication with high-potential staff about growth opportunities, coupled with making firms appealing to younger professionals via investing in cutting-edge technologies, will serve to ease transition issues with regard to leadership succession.

The problem of abusive tax avoidance transactions is constantly changing, and the Internal Revenue Service needs better information to stay on top of it, according to a new government report.

CCH and Baker Tilly International have begun a strategic partnership that will enable accounting firms in the Baker Tilly International network to receive CCH news, insights and other information services.

A Los Angeles attorney has been sentenced to 32 months in prison and two years of supervised release for his role in a tax shelter scheme.

Thomson Reuters has upgraded its Checkpoint online tax and accounting research service with new features designed to improve the system’s efficiency, customizability and analysis.

Top 100 CPA and consulting firm Wipfli LLP has launched a corporate financial services entity called WCF Advisors LLC.