Practice management

The watchdog group Citizens for Ethics and Responsibility in Washington had a big surprise during a conference call with reporters Tuesday to announce the latest complaint CREW had filed with the Internal Revenue Service: the subject of the complaint joined the call and defended himself.

The New York State Department of Taxation and Finance outsourced the responsibility of refunding money to a new contractor this year and many taxpayers who filed paper-based returns still have not received their refunds.

The Internal Revenue Service budget would be cut by 24 percent under a House Republican proposal that would create new restrictions on the tax agency.

The Internal Revenue Service has reportedly posted the Social Security numbers of tens of thousands of people on the Internet before taking down the information after a whistleblower pointed out the mistake.

The House has approved a bill that prohibits the Public Company Accounting and Oversight Board from forcing public companies to automatically change or rotate their independent auditing firms.

The leaders of Congress’s two main tax-writing committees kicked off their national tax reform tour Monday with meetings at two businesses in the Twin Cities area.

The National Association of Professional Employer Organizations has grown in membership, revenue and clout since its inception in 1984 .

The Swiss government announced a new approach allowing banks to hand over data to U.S. authorities in a bid to solve a dispute over undeclared assets and forestall further indictments by the Department of Justice.

Paul Dunn, chairman of the business giving organization Buy1GIVE1 and founder of Results Accountants' Systems and the Accountants' Boot Camp process, talks with Accounting Today senior editor Danielle Lee at the Practitioners Symposium and Tech+ Conference about how firms can create an inspiring environment that attracts managers, staff and clients to join the business.

The Internal Revenue Service has proposed tax relief for money market fund investors in response to concerns about proposed reforms from the Securities and Exchange Commission in the money market industry that could trigger so-called “wash sale’ tax rules.

Rep. Bill Posey, R-Fla., has written a letter to Treasury Secretary Jack Lew questioning regulations that would require U.S. banks and credit unions to collect and report information on nonresident aliens, urging him to cease enforcement of the Foreign Accounting Tax Compliance Act, or FATCA, and stop negotiating intergovernmental agreements with other countries for FATCA enforcement.

The Internal Revenue Service reminded taxpayers and tax preparers that it would be closed Friday, July 5, due to the current budget situation, including the sequester, but filing and payment deadlines remain unchanged.

The National Taxpayer Advocate submits two annual reports to the Ways and Means Committee and the Senate Finance Committee each year.

BDO USA LLP has named CCH as the primary research provider for its professionals nationwide.

John Napolitano, chairman and CEO of U.S. Wealth Management, sat down with managing editor Tamika Cody to discuss the mistakes CPAs make when they head into the world of financial planning.

Thomson Reuters has introduced a mobile version of its ONESOURCE corporate tax software, allowing users to track the status of income tax e-filings from any mobile device.

Sen. Pat Roberts, R-Kan., and Rep. Tom Price, R-Ga., have introduced legislation in the Senate and the House to block foreign governments from collecting taxes on securities transactions.

The Obama administration has decided to postpone the employer responsibility payment and insurance reporting requirements under the Affordable Care Act for one year to give businesses more time to comply with the health care reform law.

The American Institute of CPAs has requested changes in a Senate bill aimed at combating the growing problem of identity theft and tax fraud to avoid increased penalties for tax preparers who improperly disclose or use taxpayer information.

John Napolitano, chairman and CEO of U.S. Wealth Management, sat down with managing editor Tamika Cody to discuss what market trends CPA financial planners should be paying attention to, and the mistakes that firms make when they venture into financial planning.