Practice management

The Treasury Department plans to purchase $5 billion in equity from GMAC, and lend another $1 billion to the automobile-financing company.

Accounting firm Eisner LLP has formed a Tax Recovery Assistance Task Force to help investors who have suffered losses as a result of Bernard Madoff's fraudulent investment scheme.

Accounting firm Rives & Associates has merged in Allen & Woodall, another firm in North Carolina.

The Treasury Department released a letter with responses to 10 questions posed by a recent report that criticized its management of the Troubled Asset Relief Program.

The Internal Revenue Service should reexamine the "tolerance levels" it uses to request missing tax forms and schedules from taxpayers, the Treasury Department's inspector general recommended in a new report.

The Internal Revenue Service and the Treasury Department said they would consider a complicated tax maneuver involving controlled foreign corporations a "transaction of interest," but stopped short of identifying it as a "tax avoidance transaction."

A group of 61 members of Congress has written to President Bush asking him to suspend rules that require senior citizens to withdraw money from their severely depleted retirement accounts by the end of the year.

The Internal Revenue Service is proposing temporary regulations on foreign base company sales income.

The Internal Revenue Service has finalized the revised Form 990 and 990-EZ information returns that tax-exempt organizations will need to file next year.

Lawmakers have passed more than 100 new tax law changes that could help millions of individual taxpayers save money on their taxes this coming season.

The Internal Revenue Service and the Treasury Department have decided against changing a rule that requires retirees to withdraw a minimum distribution from their retirement savings accounts by the end of 2008.

The Internal Revenue Service collected about $3 billion less in revenue from audits this year after assigning staff to work on processing economic stimulus payments.

Accounting firm Plante & Moran has transplanted its Grand Rapids offices into a larger and “greener” space.

Accounting firm Citrin Cooperman has added a “Growth & Protection Team” to provide business consulting services to small and midsized businesses.

There are possible tax strategies that are particularly suited to the times that we are in. Here are two that I keep seeing, with the latest in a press release from a major tax publisher. According to analysts with the Tax & Accounting business of Thomson Reuters, C corporations may secure a refund of overpaid estimated taxes, or use projected current-year NOL to offset taxes owed for the previous year.

The Internal Revenue Service is changing its lockbox payment addresses in five states for individual taxpayers and 23 states for business taxpayers in the New Year.

The Internal Revenue Service has issued proposed regulations that provide rules for assessing penalties against tax advisors who fail to file a true and complete tax return on a timely basis.

President-elect Barack Obama has named venture capitalist Karen Mills to lead the Small Business Administration, drawing fire from one small business group.

A Florida man has been convicted of hiring a hit man to murder an Internal Revenue Service employee who was auditing his taxes.

President-elect Barack Obama has named Mary Schapiro as the next chairman of the Securities and Exchange Commission, replacing Christopher Cox.