Max Baucus released a series of comprehensive tax reform proposals over a three-day span. Specifically, the three drafts cover a restructuring of the international tax system, tax administration and fraud prevention techniques, and cost recovery deductions.
The AICPA announced Bob Graham, former US Senator and former Florida Governor, as the recipient of the AICPA Medal of Honor. Graham was presented the award by AICPA Chairman Richard Caturano, CPA, CGMA.
The IRS has been embroiled in plenty of turmoil lately, but presumably it has nothing to do with a witch's cauldron or a satanic spell. Nevertheless, an IRS official sitting on the hot seat in Congress was asked to defend herself against mock charges she was demonic.
Due to the federal government shutdown that began last Tuesday, the US Tax Court in Washington, DC, canceled trial sessions scheduled to begin on October 7 and 8 in several cities throughout the country.
There's nothing new about governments trying to use tax as behavior modification. They've been doing it forever. Now the behavior being targeted in some areas of the country is the choice at the grocery store of "paper or plastic."
This fall, teams of undergraduate business/accounting students from across the country will be able to test their personal financial planning skills when they participate in the 2013 AICPA Accounting Competition.
On August 15, the AICPA expressed its opposition to a proposed limitation on the use of the cash method of accounting for non-natural taxpayers, personal service corporations, and farmers that is contained in House Ways and Means Committee Chairman Dave Camp's small business tax reform discussion draft.
The Justice Department and IRS announced that John T. Hoang of Virginia pleaded guilty in federal district court in Washington, DC, to willfully aiding and assisting in the preparation of false income tax returns for tax year 2004.
President Obama on August 1 nominated John Koskinen as the next commissioner of the embattled IRS. The president tapped the retired Koskinen because of his ability to lead an organization out of a crisis.
Anyone wealthy enough to own a major sports franchise is probably steeped deep in serious estate planning. William Davidson was no exception. In 2008, the year before he died, his net worth was $5.5 billion.
According to the testimony of members of six targeted groups given to the House Ways and Means Committee on June 4, the IRS held up applications for tax-exempt status, illegally released donor lists, and generally harassed organization officials.
The IRS scandal involving applications for tax-exempt status by Tea Party groups refuses to go away. Now the ACLJ has filed a lawsuit on behalf of twenty-five Tea Party and other conservative organizations against the IRS and several of its top officials.
After the initial round of hearings held by three congressional committees this week, at least we know the IRS wrongfully targeted conservative "tea party" groups applying for tax-exempt status. But precious little else has been revealed.
Lois Lerner, director of the IRS Exempt Organizations division, chose to invoke her Fifth Amendment right against self-incrimination before the House Oversight and Government Reform Committee on May 22.
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.