Practice management

The Internal Revenue Service has released final regulations relating to the exclusion from gross income for amounts received on account of personal physical injuries or physical sickness.

CCH has added several four new titles to its Expert Treatise Library for tax and accounting professionals.

Payroll provider Paychex is offering a free federal and state tax practice sheet that accountants can pass along as a tax season gift to their clients, branded with the CPA practice’s own name.

The ability to recognize and address lifecycle issues such as succession and compensation, as well as seize opportunities like mergers, are critical for helping spearhead current and future growth, according to a trio of major firm CEOs.

The National Society of Accountants is providing a free Web tutorial to help tax practitioners get ready for the Internal Revenue Service’s upcoming Registered Tax Return Preparer competency tests.

Republican Presidential candidate Newt Gingrich released his income tax returns as pressure mounted on rival candidate Mitt Romney to do the same.

They say the third time’s a charm. And the third iteration of the IRS Offshore Voluntary Disclosure Program is likewise a good thing, according to Kevin Packman, a tax partner at Holland & Knight and chair of the offshore compliance team.

Succession planning, recruiting, M&A and developing top talent and pricing pressures were among several front-burner issues that came to the forefront during a roundtable discussion by members of the Advisory Board.

Former All-American and NFL pro quarterback Tom Flick repeated one number in his keynote address to kick off the Winning Is Everything practice management conference in Las Vegas on Thursday: the number 10.

People who have received restitution payments from those convicted of human trafficking do not need to include those payments in gross income for federal income tax purposes, the Internal Revenue Service said Thursday.

The Internal Revenue Service plans to hold the second in a series of public meetings next Wednesday to get feedback on its plans to create a “real-time tax system” that would be able to catch incorrectly reported tax return information at the time it is filed.

Republican Presidential candidate Rick Santorum’s tax plan would reduce federal tax revenues substantially, according to a preliminary analysis by the Tax Policy Center.

Rep. Sander Levin, D-Mich., the ranking Democrat on the tax-writing House Ways and Means Committee, said Wednesday he would re-introduce legislation later this year to end the tax break on carried interest income.

A White House-appointed group of business, academic and labor leaders recommended corporate tax reforms and other measures to increase jobs and improve the economy.

Republican Presidential candidate Mitt Romney reversed course and, under pressure from rival candidates, said that he would release his tax returns, probably around April 15.

The Internal Revenue Service’s newest version of the Offshore Voluntary Disclosure Program is designed to give some reassurance to taxpayers who have been hesitating to come forward and disclose their foreign bank accounts, but the increasing complexities of U.S. tax law are leading more people to renounce their citizenship.

The American Institute of CPAs has partnered with the Fox Financial Planning Network, a financial services consulting firm in San Diego, to help CPAs add financial planning to their practices.

While the Internal Revenue Service is making gains in its processing capabilities due to increased electronic filing, the agency still needs to offer taxpayers more self-service tools, according to a new report.

The Internal Revenue Service said Tuesday that its Modernized e-File, or MeF system successfully opened this morning at 9:00 am Eastern Time and is now operational for individual tax returns and extensions.

The Government Accountability Office has provided Congress with a guide for screening and assessing proposals to disclose confidential tax information to specific parties for certain purposes.