Tax

Less than two months ago Washington escaped from the doomsday scenario of the looming “fiscal cliff.” Now it faces the threat of the less colorfully named “sequester” or “sequestration,” depending on who’s talking about it, but somehow the dire warnings of impending disaster are beginning to sound unconvincing.

The Internal Revenue Service has filed notices with a federal district court and appeals court of its intention to appeal a judge’s ruling that struck down the mandatory testing and continuing education requirements of its Registered Tax Return Preparer regime and asked the court to suspend the January ruling that invalidated the RTRP regime.

The Internal Revenue Service has released a favorable private letter ruling allowing WTP Exchange, an affiliate of WTP Advisors, to provide both like-kind exchange software and qualified intermediary services.

The Tax & Accounting business of Thomson Reuters has introduced a cloud-based version of its software for managing sales and use taxes and value-added taxes.

IRS e-file provider Aplos Software will begin offering its Aplos e-File online tax preparation and e-filing product for IRS Form 990-EZ in March of 2013.

The IRS announced that it would no longer hold tax returns that both claimed the Earned Income Tax Credit and had incomplete or appropriate Forms 8867 attached.

CCH Small Firm Services president Jeff Gramlich has resigned from his post, with former Wolters Kluwer Financial & Compliance services vice president and general manager Jason Marx stepping into the role.

For years, you’ve been hearing that you should include financial services among your tax or accounting practice’s service offerings.

The IRS has issued warning to taxpayers who receive emails claiming to be from the agency.

As Presidents’ Day Week winds down, it seems logical to pay a little attention to Presidents Washington and Lincoln, especially their wisdom and the positions they held on a number of the issues they faced in their time.