Michael Cohn

The American Institute of CPAs and the Chartered Institute of Management Accountants jointly released guidance Tuesday for auditing and accounting for the risks of digital assets such as cryptocurrency.

Continuing education courses can sometimes put accountants and tax professionals to sleep, but a new breed of e-learning is making the process more enjoyable and engaging.

The Internal Revenue Service has been pilot testing new technology allowing for secure tax transcript retrieval that can integrate with an accounting firm’s practice management system.

The service plans to host its tax forums online again this summer starting July 20.

A sizable chunk of private companies still aren’t ready to implement the new lease accounting standard before the end of the year, despite postponements in the deadline due to the pandemic.

Auditors are taking advantage of the remote auditing capabilities they used during the pandemic to do more types of audits and expand priorities like fraud detection and cybersecurity.

Billions of dollars in underreported taxes by employers and backup withholding for their employees are helping fuel the tax gap, according to a new report.

Regulating preparers, modernizing old tech and beefing up cryptocurrency reporting would yield $700 billion, according to a new report.

The U,S, Small Business Administration is urging food and beverage establishments to submit their applications for the Restaurant Revitalization Fund by next Monday.

The court unanimously ruled against the service in a decision enabling taxpayers to sue over a tax regulation, even before any penalty has been assessed.

The Internal Revenue Service is starting to provide tax refunds to taxpayers who paid taxes on their 2020 unemployment benefits that recent legislation later excluded from taxable income.

There are some strategies organizations can use to hold onto diverse employees.

The EITC, the ACTC and the ACTC continue to be abused, even as they become more generous.

The Public Company Accounting Oversight Board has proposed a rule for implementing a recent law that penalizes foreign companies whose auditing firms can’t be inspected by the PCAOB.

The Internal Revenue Service has picked TaxBit, a Salt Lake City-based company, as a subcontractor to help it do data analysis and tax calculations for audits of taxpayers with cryptocurrency.

As businesses invest in cryptocurrency and sell assets like nonfungible tokens, they should be aware of the accounting and tax issues surrounding them.

Financial executives are eyeing tax changes expected in the Biden administration, demands for more environmental, social and governance reporting, and diversity efforts.

Congressional Democrats have reintroduced legislation in the House and Senate to shed more light on the use of corporate tax havens and incentives for outsourcing jobs abroad.

Accounting for real estate owners has become more difficult since the pandemic broke out last year as tenants stopped paying rent, rules changed for leases, and unused office space proliferated.

The Institute wants help for businesses facing foreign trade obstacles to maintaining inventory during the pandemic.