Practice and client management

The Tax and Accounting Business of Thomson Reuters has enacted a series of enhancements to the platform supporting its NetClient CS client portals, SaaS for the CS Professional Suite, and Virtual Office CS.

Vice President Joe Biden said the administration would be better prepared to oppose the extension of tax cuts for the wealthiest Americans when they expire in 2012.

Big Four firm Ernst & Young could be hit with fraud charges stemming from its alleged role in the collapse of banker Lehman Brothers, the Wall Street Journal reported.

Vice President Joe Biden indicated the Obama administration intends to limit the newly extended tax cuts when they come up again for renewal in 2012.

With just weeks to go before the end of the year, Congress has cleared tax relief legislation extending the Bush-era individual and capital gains and dividend tax cuts for all taxpayers for two years, as well as a 13-month extension of unemployment benefits.

The House approved an $858 billion extension of the Bush-era tax rates and unemployment benefits late Thursday night, a day after the Senate approved the bill, sending the bill to President Obama’s desk.

The modern era of tax return preparer administration began on Sept. 28, 2010.

Nonprofit charitable tax-exempt organizations filed 313,121 information returns for tax year 2007, according to new statistics released by the Internal Revenue Service, an increase of 4 percent from 2006.

Approximately 13.4 million taxpayers who received the Making Work Pay Credit that was included in the economic stimulus bill may end up owing taxes, according to a new government report.

The American Institute of CPAs has launched a new public service tax website to help taxpayers better understand how the federal tax system works and connect with a CPA for tax help.

Senate Finance Committee Chairman Max Baucus, D-Mont., urged the Senate on Wednesday to pass legislation to eliminate the expanded 1099 reporting requirements for businesses in the health care reform bill.

The Senate has passed a package extending the Bush-era tax rates for two years along with a 13-month unemployment extension.

Jefferson Wells, a global provider of risk advisory and accounting-related services, has launched its Technical Accounting and Financial Reporting Center of Expertise, a unit that will provide guidance in technical and compliance issues related to the financial reporting landscape.

A federal judge’s decision striking down a key provision of the health care reform law, along with the near-certain repeal of the 1099 information reporting requirements in the law, indicate that President Obama’s signature achievement of the past year is likely to be chipped away in the years ahead before many of its provisions even take effect.

As the end of the year fast approaches, the Internal Revenue Service is strongly encouraging paid tax preparers to register now for their new or renewed Preparer Tax Identifications Numbers to avoid any last-minute rush.

Ninety-two percent of corporate tax professionals consider data management to be a primary goal for improving the tax process, according to a new survey.

CCH has upgraded its IntelliConnect online tax and accounting research service with improvements in its user interface, search features and research tools.

The Bush tax cut and unemployment benefit extension legislation passed a key procedural hurdle in the Senate on Monday, overcoming the 60-vote threshold needed to come up for a vote later in the week.

Only a handful of days remain to execute year-end tax strategies. Some techniques for this year reprise traditional advice that has legs year after year, while others, including reaction to whatever this year's lame-duck Congress has wrought, have a unique sense of urgency.

In July, Christie's auction house in New York auctioned off the collection from the Roy Rogers and Dale Evans Museum, which closed in 2009. Everything was sold: Roy’s first guitar, his sunglasses, and his sterling silver money clip and belt buckle were put up for sale to the public. The highlight of the catalog was Roy's horse, Trigger, who had been stuffed in his classic rearing position.