Michael Cohn

The Internal Revenue Service’s Criminal Investigation division is cautioning taxpayers and tax professionals to beware of scams related to the expanded Child Tax Credit in which fraudsters are trying to steal money and personal information.

A new TIGTA report warns, however, that many didn’t follow the rules and could face potential tax penalties.

As businesses downsize office space and renegotiate leases, they need to look at how they’re accounting for the leases under the new rules.

The service didn’t flag hundreds of millions of dollars of unsupported deductions.

The developer of accounting workflow automation software raised its valuation to $1.2 billion.

A federal jury convicted a former Internal Revenue Service IT specialist on fraud charges for stealing a victim’s identity and using it to buy $58,000 worth of plane tickets, hotel rooms and home-remodeling materials.

The Governmental Accounting Standards Board released a proposed concepts statement to guide GASB when establishing note disclosure requirements for state and local governments.

The Senate Finance Committee chairman's legislation would streamline the 199A deduction for qualified business income, allowing accountants, lawyers, doctors and others to qualify, but phasing out above $400,000.

Over half of public companies have overhauled their financial processes in the past year, according to a Deloitte survey.

The exposure draft covers various accounting and financial reporting issues that were identified during implementation, application, and due process on GASB standards.

Withum merges in OUM; and Whitley Penn plans to add Werlein & Harris.

The Financial Accounting Standards Board released an accounting standards update Monday to help lessors account for leases with variable lease payments.

Intuit has decided to leave the Free File Alliance after coming under criticism for making it difficult to access a truly free version of TurboTax.

The Internal Revenue Service has begun offering online Tax Pro Accounts that practitioners can use for submitting an authorization request to an individual client’s own taxes online with the IRS.

Proper, a San Francisco-based provider of automated accounting and bookkeeping services for real estate property managers, has scored $9 million in Series A funding from investors.

The Institute of Management Accountants officially appointed J. Stephen McNally as chair of the IMA’s global board of directors, and he plans to focus on the organization’s growing presence internationally.

The Internal Revenue Service’s Office of Chief Counsel posted a memorandum on cost-sharing agreements with reverse clawback provisions and their implications for transfer pricing arrangements and stock-based compensation.

Auditors don’t put much emphasis on work-life balance, but the quality of their audits tends to suffer if that balance is absent, according to a recent study.

The Securities and Exchange Commission is ramping up enforcement against cryptocurrency providers, as the Internal Revenue Service has also stepped up investigations and compliance efforts.

The Internal Revenue Service has launched a campaign this summer to persuade tax professionals to improve their cybersecurity amid an escalating series of ransomware attacks around the world.