Practice and client management

In the classic 1935 Marx Brothers film, A Night at theOpera, Otis B. Driftwood is seen explaining the finer points of a contract inlegalese that the Italian, Fiorello, doesn't quite understand.

A federal grand jury has returned an 11-count indictment charging four Salt Lake City residents with conspiring to conceal profits stemming from their mergers and acquisition business from the IRS and under-reporting or not reporting income over a span of approximately seven years.

A Firm 2.0 is one that utilizes Web 2.0 technology to create efficiency and improve productivity in all aspects of its operations.

Eleven defendants have been charged in a massive scheme to file fraudulent tax returns using the stolen identities of Puerto Rican residents in an attempt to collect more than $18 million in tax refunds.

New Jersey Governor John Corzine must be breathing a sigh of relief now that his state has recovered over $625 million from a tax amnesty program.

Harriette Walters, the former tax office manager for the District of Columbia, was sentenced to 17 and a half years in prison for masterminding a tax scam estimated to have cost the district $48.1 million.

National Taxpayer Advocate Nina Olson plans to make oversight of tax return preparers one of her office’s main priorities in the coming fiscal year.

The IRS has excluded pay-for-performance success payments made under the federal government’s new Home Affordable Modification Program from counting as income.

Victims of recent storms in Alabama and Missouri and wildfires in Oklahoma may qualify for tax relief from the IRS.

A UBS client and chartered accountant has pleaded guilty to filing a false tax return for his 2004 taxes in the latest sign of the IRS’s stepped-up enforcement efforts against the Swiss bank’s U.S. customers.

A new analysis by a former high-ranking IRS official explains how the Tax Code’s corporate reorganization provisions afford tax-free treatment to certain corporate combinations and realignments.

The IRS often fails to send notices of federal tax liens to taxpayer representatives such as accountants, according to a new report.

The Internal Revenue Service has extended the deadline for filing a report on foreign bank accounts to Sept. 23 from the original June 30 deadline as it seeks to crack down on offshore tax havens.

Tennessee-based accounting firm KraftCPAs has created a new affiliate company that will specialize in health care consulting services as Congress prepares legislation to overhaul the health insurance industry.

The IRS has not been doing an adequate job of overseeing the acceptance agents who assign Individual Taxpayer Identification Numbers to foreign nationals, increasing the risk of tax fraud.

Typical end-of-year tax planning will be on everyone’s minds before you know it.

An IRS advisory committee has recommended that the IRS require all tax preparers who file at least 200 returns a year to use electronic filing.

Just in time for Jon and Kate Gosselin’s impending divorce, the IRS has released a very helpful form.

The IRS has posted a preview of the 1040 for 2009, along with the latest rules for electronically filing the returns.

New research into CPA firm management will be described in a series of monthly webinars from the Bay Street Group and Capstone Marketing.