Practice and client management

Significant problems remain with efforts by the Internal Revenue Service to identify and prevent tax refund fraud by prisoners after the passage of a 2008 law aimed at curbing such issues, according to a new government report.

The House Republican leadership plans to introduce rule changes that would make it harder for Congress to pass tax increases or close tax loopholes.

The Internal Revenue Service has published updated guidance on the circumstances under which tax disclosures are adequate to avoid penalties for taxpayers and preparers.

THE FUTURE OF ACCOUNTING MARKETING

The ground inside many CPA firms is beginning to shake as the first wave of over 76 million Baby Boomers (those born from 1946 to 1964) reaches retirement. The result of this quake is an expansion in the generational divide within firms - especially between Baby Boomers and their up-and-coming Generation X (those born from 1965 to 1981) partners, principals and senior managers.

Okay, we'll admit it up front: We are inveterate wordsmiths who love using words to make our points. Over the previous 15 years that we've produced this column, we've even invented a few to describe some financial reporting issues, such as "pfooling of interests," "volatilaphobia" and, more recently, "duh-preciation."

CPA Dave Roberts finds it baffling that some accountants express reluctance—or even fear—about pursuing a niche practice.

So, you've come to the conclusion that in order to grow your practice or the firm you need to increase the number of referrals you receive. What took you so long?

The Internal Revenue Service is aiming to provide more Fast Track Settlements to small businesses and self-employed taxpayers and retool its Offer in Compromise mediation and arbitration procedures.

The principal owner of The Kettle Black, a popular sports bar and restaurant in the Bay Ridge section of Brooklyn, has pleaded guilty to stealing more than $1.3 million in city and state sales taxes over a five-year period.

The Internal Revenue Service released more information Thursday on the implementation of the new Treasury regulations governing tax return preparers and the new requirements to obtain a Preparer Tax Identification Number, including those who work at CPA firms.

A pair of Long Island construction contractors have been sentenced to serve prison terms and ordered to pay restitution for engaging in payroll tax schemes.

The Senate extended two funding programs for small businesses carrying out innovative technology research on the final day of the lame duck session last week, but their fate in the House remains undecided.

Jeffrey Donovan has been named managing partner at Donovan Certified Public Accountants and Advisors.

The Internal Revenue Service should take immediate action to strengthen its controls over the processing of refunds issued to nonresident aliens to prevent such individuals from receiving erroneous refunds, according to a new government report.

As airline passengers around the country struggle to rebook flights in the wake of the blizzard that paralyzed the Northeast this week, the Internal Revenue Service has announced the 2011 inflation adjustments to the excise taxes on air transportation.

Employees at the Internal Revenue Service surveyed tax returns with Abusive Tax Avoidance Transaction issues without management approval, according to a new report.

White House officials said President Obama would delay delivery of his fiscal year 2012 budget by about one week after February 14.

IMGCAP(1)]Forensic accounting has become a “hot” topic in recent years due to the increase in high-profile cases of companies and individuals charged with corruption and fraud.

The Tax & Accounting business of Thomson Reuters has issued a comprehensive analysis of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 on its Checkpoint research service.