Practice management

In my previous article, I discussed mandatory CPE. Today I am writing about non-mandatory courses: those covering practice management.

Taxpayers who make cash contributions on or before April 14, 2014, for Philippines typhoon relief can get an immediate tax benefit by choosing to claim them on their 2013 returns, according to the Internal Revenue Service.

The Internal Revenue Service said Friday that victims of last month’s mudslides and flooding in Washington state will have until Oct. 15 to file their returns and pay any taxes due.

The Internal Revenue Service is not adequately performing the job of managing its mainframe software licenses, according to a report from the Treasury Inspector General for Tax Administration.

Only 33 percent of small businesses employ a bookkeeper, according to a survey by Palo Alto Software, and an additional 50 percent say they also do not plan to hire one this year.

Administering the 2010 health-care law is just like municipal snow shoveling—a top priority that’s non-negotiable, John Koskinen, the commissioner of the U.S. Internal Revenue Service, said Wednesday.

The Senate Finance Committee voted to revive almost all of the 55 tax breaks that expired Dec. 31, providing benefits for wind energy, U.S.-based multinational corporations and motor sports track owners.

The Internal Revenue Service has released a new revenue ruling that offers simplified safe harbor due diligence procedures that a retirement plan administrator can use in order to be deemed to have reasonably concluded that an amount was a valid rollover contribution for an individual retirement account.

The IRS is requesting membership nominations for the Information Reporting Program Advisory Committee.

Highlights of some of our favorite tax-related blogs from the past week.

Gale Crosley of Crosley + Company discusses the practice areas and international opportunities that firms often overlook in trying to grow, in an interview with Accounting Today editor-in-chief Daniel Hood.

As most exempt organizations know all too well, preparing a Form 990 can be a time consuming and complicated process.

The Treasury Department and the Internal Revenue Service said Wednesday they will treat 19 countries that have reached agreements in substance with the U.S. on the Foreign Account Tax Compliance Act as having those agreements in effect, until the end of 2014, and they will also delay the registration deadline for foreign banks for 10 more days.

The Senate Finance Committee plans to hold a hearing next Tuesday to discuss how to protect taxpayers from incompetent and unethical tax return preparers.

The Internal Revenue Service needs to strengthen its processes to ensure compliance with the requirements for receiving the Qualifying Advanced Energy Project Credit, according to a new government report.

Investors try to maximize investment returns while managing the level of risk in their portfolios. But only after-tax investment returns are truly available to the investor. Tax consequences should be considered before making any investments. Tax treatment, good or bad, can have a significant impact on an investment decision.

Republican Representative Paul Ryan unveiled a $1.014 trillion U.S. budget plan that envisions revamping the tax code and social-safety net in a declaration of party priorities seven months before the midterm election.

The Internal Revenue Service has released a new 2014 Form W-8BEN-E, “Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities),” which can be used by foreign financial institutions and other entities in connection with the Foreign Account Tax Compliance Act, or FATCA.

A Caterpillar Inc. executive defended her company’s tax maneuvers today, telling a Senate panel that moving profits from its parts business to Switzerland from the U.S. was a legal and appropriate way to eliminate unnecessary expenses.