Practice and client management

The Justice Department has won a tax shelter case involving Dow Chemical, in which the company was accused of creating approximately $1 billion in phony tax deductions in a scheme designed by Goldman Sachs and lawyers at King & Spalding.

The IRS has released Revenue Procedure 2013-21, which provides the depreciation deduction limitations for owners of passenger automobiles.

The Financial Crimes Enforcement Network, one of the Treasury Department’s lead agencies in the battle against money laundering and other crimes, has issued an advisory to financial institutions warning them to beware of tax refund fraud and identity theft, and to report such activity by filing Suspicious Activity Reports.

Private equity fund managers are beginning to be concerned that they may lose their tax break on carried interest as lawmakers in Washington again debate tax reform.

Executive appointments, new arrivals and one unannounced departure from a major tax and accounting vendor were on tap this past week, plus we're getting ready for conference season; where will you be going and why?

Rob Ganjon, the new CEO at iLumen, explains how business intelligence is the next natural step in accountants' evolution.

Less than two months ago Washington escaped from the doomsday scenario of the looming “fiscal cliff.” Now it faces the threat of the less colorfully named “sequester” or “sequestration,” depending on who’s talking about it, but somehow the dire warnings of impending disaster are beginning to sound unconvincing.

The Internal Revenue Service has filed notices with a federal district court and appeals court of its intention to appeal a judge’s ruling that struck down the mandatory testing and continuing education requirements of its Registered Tax Return Preparer regime and asked the court to suspend the January ruling that invalidated the RTRP regime.

The Internal Revenue Service has released a favorable private letter ruling allowing WTP Exchange, an affiliate of WTP Advisors, to provide both like-kind exchange software and qualified intermediary services.

It doesn’t matter if you are an accountant, attorney, banker, entrepreneur or in which business, company, industry or profession you toil.

The IRS announced that it would no longer hold tax returns that both claimed the Earned Income Tax Credit and had incomplete or appropriate Forms 8867 attached.

Parents and students should check if they qualify for either of two college education tax credits or any of several other education-related tax benefits, according to the IRS.

The IRS has released a schedule of cities and dates for the 2013 Tax Forums.

The IRS has issued warning to taxpayers who receive emails claiming to be from the agency.

The Indiana CPA Society has released a new study on what it sees as a growing trend toward “hyperspecialization” in the CPA profession.

As Presidents’ Day Week winds down, it seems logical to pay a little attention to Presidents Washington and Lincoln, especially their wisdom and the positions they held on a number of the issues they faced in their time.

New network membership, Gotta Love Tax Season animated sketch, food and beverage industry study and more...

The Internal Revenue Service is taking further steps to combat identity theft, including issuing proposed regulations that allow taxpayers to truncate the identification numbers on some tax documents they file.

Social media sites Facebook and LinkedIn are enjoying massive tax breaks on stock options, according to recent reports.

Accounting firm ParenteBeard has launched a Small Business Tax Toolkit offering online advice to small business owners who are looking for guidance on their taxes.