Michael Cohn

The Internal Revenue Service has changed the calculation for determining the $10,200 exclusion on unemployment benefits in the new pandemic relief package, allowing more taxpayers to qualify, but forcing tax software developers to update their programs.

The Financial Accounting Standards Board said Tuesday the Securities and Exchange Commission has accepted the latest updates to the GAAP Taxonomy for filing financial statements with the SEC.

A group of House Democrats is sounding the alarm about delays in Economic Impact Payments going out to beneficiaries of safety net programs.

The National Conference of CPA Practitioners is asking the IRS to postpone the tax deadline from May 17 until June 15 and to make it apply to quarterly estimated payments.

The move is aimed at helping pave the way for a potential international standard-setter for ESG accounting.

The COVID-19 pandemic could give remote employees around-the-clock access to company funds with little supervision and lead to embezzlement.

Fewer than two out of every 100 taxpayers reporting over $1 million in income were audited by the Internal Revenue Service in fiscal year 2020, according to a new report.

Richard Chambers has released a book on disruption as a new IIA report examines how the internal audit profession is coping with COVID-19.

Senate Democrats are sponsoring legislation to safeguard stimulus payments from debt collectors, while Republicans want states to be able to use funds from the new relief package for tax cuts.

The House voted to provide an extra two months for the Paycheck Protection Program, giving businesses until May 31 to apply for forgivable loans during the pandemic.

The Internal Revenue Service has decided to use its discretion to avoid reducing the size of Economic Impact Payments with tax debts owed to the federal government.

The Internal Revenue Service is pushing back the tax-filing deadline until May 17 after heavy pressure from Congress and tax and accounting groups.

The Internal Revenue Service posted a Spanish version of its Form 1040 and instructions Tuesday and made available publications and online information in other languages.

The institute named Gwen van Berne as its sixth female chair-elect and the first to reside abroad.

The Small Business Administration pushed back the deferment period for all its disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until next year.

The Internal Revenue Service posted information about how to correctly compute the new exclusion on a portion of unemployment income as Congress pushes the IRS for further tax-filing relief.

The Internal Revenue Service said Friday that the third round of Economic Impact Payments will begin hitting taxpayers’ bank accounts as early as this weekend.

The International Federation of Accountants convened a meeting of leaders of accounting organizations to advance sustainability reporting as momentum builds worldwide for consistent environmental, social and governance reporting.

Members of Congress are proposing bipartisan legislation to extend the deadline for Paycheck Protection Program loans another two months as accountants press for more time on the expiring program.

President Biden signed the American Rescue Plan Act into law Thursday, triggering the release of $1,400 Economic Impact Payments along with tax breaks for stimulating the economy.