Practice and client management

The Internal Revenue Service has published final regulations to provide guidance on which costs incurred by estates or trusts other than grantor trusts are subject to a 2 percent floor for miscellaneous itemized deductions.

The Internal Revenue Service has issued final regulations clarifying the rules regarding the tax treatment of payments by qualified retirement plans for accident or health insurance.

Republicans trying to end a U.S. excise tax on medical devices see a chance to capitalize on fractures among Democrats and score a long-sought victory.

For the first time in 15 years, cost segregation services have made Accounting Today’s list of Top Niche services for increasing business, putting engineering studies at the top of the charts in terms of important consulting services for 2014. So what’s driving this sudden attention and popularity?

Ninety percent of tax and finance executives of companies headquartered in the United States anticipate already heightened tax risks to accelerate in the next two years, compared to executives with 81 percent of companies globally who anticipate increased risk, according to a new survey by Ernst & Young.

The Internal Revenue Service allowed an estimated $13.3 billion to $15.6 billion to be paid in improper claims for the Earned Income Tax Credit last fiscal year, or about 22 to 26 percent of all EITC payments, according to a new government report, which found the IRS continuing to be noncompliant with a 2010 law that sought to limit improper payments.

The Internal Revenue Service has declined to file a petition with the Supreme Court to appeal a series of rulings invalidating its effort to require mandatory testing and continuing education of tax preparers.

The Indiana congressional delegation has sent a letter to Internal Revenue Service Commissioner John Koskinen asking for an investigation into reports that hundreds of Indiana doctors and health care professionals have been victimized by identity theft.

As the May 15 deadline approaches for tax-exempt organizations to file the Form 990, 990-EZ and 990-PF, the Internal Revenue Service is warning them not to include Social Security numbers and other personally identifiable information in their tax forms.

“Failure” is a word that has a definite negative connotation in the vocabulary of a managing partner or CEO, but in the new concept of leadership management a collaborative failure should not be observed as a bad occurrence.

A tax preparer in Rochester, N.Y., faces up to 10 years in prison and a fine of $853,766 after creating fictitious employers for clients and filing tax returns claiming the Earned Income Tax Credit on their behalf.

Almost 50 years after Oscar-winning actor Yul Brynner gave up his passport at the U.S. embassy in the Swiss capital, the number of Americans relinquishing their citizenship jumped 47 percent in the first quarter.

Xero chief technology officer Craig Walker talks about the biggest technology changes affecting accounting over the next five years, such as the cloud, in an interview with Accounting Today editor-in-chief Dan Hood.

If you have been reading these Art of Accounting articles, you probably know some of my early work history, but I will reiterate it here and complete it.

The Internal Revenue Service has issued a revenue procedure and notice to provide temporary penalty relief to plan administrators who don’t file their Form 5500 or 5500 EZ forms on time.

Some of our favorite recent tax fraud cases.

Congressmen Mark Pocan, D-Wis., and Scott Peters, D-Calif., along with 21 other House Democrats, have introduced legislation to lower all federal student loans to 4 percent and allow borrowers to refinance their student loans at a lower rate.

A pair of Democratic senators said they intend to close loopholes in the corporate inversion tax rules that encourage multinational corporations to move their headquarters outside the U.S. by acquiring a company overseas.

The Internal Revenue Service said it is looking at a plan to realign compliance operations inside its two largest business units, Wage and Investment (W&I) and Small-Business Self Employed (SB/SE).

The U.S. House of Representatives voted to revive the tax credit for corporate research, expand it and make it permanent.