Practice and client management

The IRS has released preliminary information regarding further changes to the repair regulations.

South Carolina Governor Nikki Haley released a report from a security company on a data breach at the South Carolina Department of Revenue that exposed the tax information of millions of taxpayers in the state to foreign computer hackers, while asking the IRS to take further steps to encrypt taxpayer information.

The IRS has extended until December 7 the diesel fuel penalty waiver for New Jersey and parts of New York.

Preparers unsure of how to adjust their fees before next season can find a number of guides around the Internet, from current discussions by other preparers to fee guides from associations and recent reports on fees by the big chains.

The American Institute of CPAs has developed a new online practice aid that provides customizable sample letters and expert commentary to guide accounting professionals as they lay out terms and objectives for clients.

The Internal Revenue Service Oversight Board has sent a letter to the leaders of Congress’s two tax-writing committees urging them to act swiftly to patch the Alternative Minimum Tax to keep it from spreading to millions more taxpayers.

The BDO network of accounting firms said Tuesday that annual revenue grew 6.11 percent worldwide for its member firms compared to last year.

Individual income tax return statistics by selected descending and ascending cumulative percentiles for Tax Years 2001 to 2010 are now available from the IRS.

CCH has introduced new mobile apps providing access to several of its journals and newsletters from the Apple iPad, along with a new app aimed at tax students.

Rothstein Kass has released its updated financial statement manual for alternative investment funds such as hedge funds and hybrid funds.

Nearly 80 percent of business executives said they would be willing to accept the repeal of certain tax incentives in exchange for a lower overall corporate tax rate, according to a new report by KPMG.

CPA and tax preparer Jeffrey B. Travis has pleaded guilty to bank fraud involving a scheme to defraud US Bankcorp and five of his clients of more than $1.8 million.

Your firm probably has plans in place for nearly any situation, but have you considered what should be done to prepare for, or in case of, an emergency?

Postcards can be an effective marketing tool during tax season if targeted precisely to existing clients and used to build brand recognition.

The Internal Revenue Service is allowing 401(k) and similar employer-sponsored retirement plans to make loans and hardship distributions to victims of Hurricane Sandy and members of their families, as part of the Obama administration’s efforts to bring all available resources to bear to support state and local partners affected by Hurricane Sandy.

President Obama met with congressional leaders at the White House on Friday to negotiate over the expiration of the Bush tax cuts and the looming problem of the so-called “fiscal cliff,” with the leaders agreeing that the meeting had been constructive.

Despite negative market sentiment due to concerns over the looming "fiscal cliff," many investors are unprepared for it, according to a recent survey by Nationwide Financial.

Bank of America Corp.’s commercial customers are already reacting to the “fiscal cliff” looming over the U.S. budget by putting off purchases, chief executive officer Brian T. Moynihan said.

The American Institute of CPAs has submitted comments to the Internal Revenue Service in support of its proposed regulations for clarifying the treatment of shareholder debt of S corporations.

The IRS is seeking public comment regarding guidance for entities that discharge indebtedness and may be required to furnish 1099-C returns.