Practice and client management

The Internal Revenue Service released its final report Thursday summarizing its audits of tax-exempt colleges and universities and found that many of them underreport taxable income from their unrelated businesses.

The IRS is taking a “formalistic approach” in interpreting its own Section 6011 regulations on disclosing reportable transactions, but not following its own rules on which tax years to assess the Section 6707A penalty.

Microsoft confirmed it is trying to establish a BPO program for accounting firms behind cloud versions of its Dynamics NAV and GP ERP products.

Recent research into William Shakespeare by literary scholars indicates that he may have been a great dramatist, but he was truly the Bad Bard when it came to paying his taxes.

Rebecca Ryan of Next Generation Consulting discusses with Accounting Today senior editor Danielle Lee how one firm overcame its managers' reluctance to go to networking events and pass out business cards to bring in more clients.

The Internal Revenue Service managed to collect more tax dollars from delinquent taxpayers, even while contending with cuts in its revenue collection workforce.

The Tax Foundation has released a chart detailing state income tax collections per capita for calendar year 2011.

A loose coalition of anti-tax activists, direct marketers and financial industry trade groups has a tough task this week in overcoming bipartisan support for letting states impose sales taxes on out-of-state sellers.

Senate Finance Committee chairman Max Baucus, D-Mont., has decided not to run for re-election in 2014, instead opting to spend the next year and a half focusing on his job as Montana’s senior Senator and chairing the Senate committee in charge of tax policy, as opposed to re-election.

The Internal Revenue Service was not in compliance with all requirements of a 2010 law that increased agency accountability for reducing improper payments in federal programs, according to a new report.

The Internal Revenue Service is warning potential donors to beware of charity scams operating in the wake of the explosions last week at the Boston Marathon and a Texas fertilizer plant.

The Internal Revenue Service has issued advice from its Office of Chief Counsel providing guidance to employers who request refunds of Federal Insurance Contributions Act payroll withholding taxes for medical residents.

The Internal Revenue Service will close all of its public operations on five days from now through August because of employee furloughs, IRS Acting Commissioner Steven T. Miller told employees in a memo Friday.

The Internal Revenue Service is offering an updated way to handle problems with the Form 8949, which has been having issues this past tax season.

Rep. Keith Ellison, D-Minn., introduced a bill Wednesday that would establish a tax on the trading of stocks and other financial products.

The Internal Revenue Service improperly screens many reports of possible tax fraud submitted by taxpayers and routes them to the wrong place, according to a new government report.

Federal prosecutors in Memphis have charged 24 current and former Internal Revenue Service employees with crimes stemming from fraudulently obtaining more than $250,000 in government benefits.

A pair of senators have introduced bipartisan legislation aimed at expanding the use of S corporation employee stock ownership plans, or S ESOPs, to encourage more Americans to save for retirement.

The Internal Revenue Service needs a long-term strategy to improve the interactive services it offers online, according to a new government report.

The Internal Revenue Service does not always recognize and properly investigate signs of tax fraud, according to a new report, foregoing at least millions of dollars in potential fraud penalties.