Practice management

The House Committee on Small Business held hearings on repealing the unpopular expansion of 1099 information reporting in the health care reform bill.

The White House released its budget proposal for fiscal year 2012 on Monday, with plans for eliminating capital gains taxes on small business investment, while also getting rid of tax breaks for the wealthy and for fossil fuels.

The Federal Deposit Insurance Corp. has told Republic Bancorp, the main refund anticipation loan provider for Jackson Hewitt and Liberty Tax Service, that the bank’s RALs are “unsafe and unsound” without a debt indicator from the Internal Revenue Service.

A tax preparer who led a tax fraud scheme that resulted in more than $28 million in fraudulent refunds was sentenced in Manhattan federal court to 72 months in prison for his role.

Ernst & Young has become a corporate member of the Cloud Security Alliance, making it the first of the Big Four firms to join the nonprofit organization.

Congressmen Brad Sherman, D-Calif., and Michael Conaway, R-Texas, have formed a Bipartisan Congressional CPA Caucus that they plan to co-chair.

Tax strategy patents have been around for more than a decade, ever since a federal appeals court in 1998 validated business method patents, including tax strategies.

The Justice Department has filed six lawsuits in five states to stop tax return preparers from fraudulently claiming the First-Time Homebuyer Tax Credit and the Earned Income Tax Credit.

The city of San Francisco is reportedly considering offering Twitter massive tax breaks to keep the growing social media company from moving outside the city to nearby Brisbane.

The Internal Revenue Service has done a turnaround on the deductibility of breast pumps as medical expenses.

IMGCAP(1)]When most accountants are asked, “What is branding?” they are quick to answer, “a logo.” And they are partially correct; a strong logo should be the foundation of your brand. But it’s so much more too.

The Internal Revenue Service plans to begin accepting tax returns with itemized deductions and other delayed forms after 11:00 am next Monday.

The Internal Revenue Service has made little improvement in reducing improper Earned Income Tax Credit payments since 2002, when it was first required to report estimates of these payments to Congress, according to a new government report.

The Obama administration is expected to propose a way for states to raise more money in payroll taxes to pay for the cost of unemployment insurance.

A group of 10 Senate Democrats has written to Speaker of the House John Boehner and other House leaders asking them to reduce the budget deficit by eliminating unneeded subsidies and tax breaks for oil companies.

The Internal Revenue Service has begun a new voluntary disclosure program aimed at convincing more taxpayers to tell the U.S. government about any funds they have been hiding in foreign bank accounts.

The five states with the highest combined state and local tax rates are Tennessee at 9.44 percent, California at 9.08 percent, Arizona at 9.01 percent, Louisiana at 8.69 percent and Washington at 8.64 percent, according to a new report.

There are many important new tax breaks for U.S. individuals on the 2010 Form 1040, and several more have been eliminated, noted one tax expert.

U.S. taxation of international operations and financial statement disclosure issues were the top two concerns of leading corporate tax executives, according to a new survey.

President Obama urged business leaders to begin creating jobs and taking advantage of the tax breaks offered by his administration during a speech Monday at the U.S. Chamber of Commerce.