Michael Cohn

Leaders of the tax-writing House Ways and Means Committee are sounding the alarm over the slow start to tax season, reflected in the initial week of data from the IRS.

Two members of Congress teamed up Friday to introduce a bipartisan bill that would offer tax credits for income from tips to beauty salon owners and workers.

The Financial Accounting Standards Board approved a tweak to the goodwill rules for private businesses and not-for-profits, giving them more flexibility on when to do impairment assessments of triggering events.

Democrats on the House Ways and Means Committee are urging the Internal Revenue Service to extend tax season beyond April 15 to give taxpayers another three months until July 15.

New guidance shows how employees and employers can carry over unused money from flexible spending accounts and dependent care assistance programs.

House Democrats are proposing two pieces of legislation that would also provide more funding for the Internal Revenue Service.

The Internal Revenue Service is still dealing with a backlog of unprocessed mail from 2020, hurting its efforts to provide help with COVID-19 relief payments and this year’s tax season.

Holders of donor-advised funds increased their disbursements last year in response to urgent demands for greater charitable contributions to cope with the COVID-19 pandemic.

The Internal Revenue Service issued a warning Wednesday to taxpayers to beware of unethical “ghost” tax preparers who don’t sign tax returns for clients.

The Center for Audit Quality and the American Institute of CPAs released a guide Wednesday to environmental, social and governance reporting and attestation for accountants.

CFOs and other finance executives are finding they need to reforecast their company’s liquidity and cash flow on a weekly and even daily basis as they cope with the pandemic.

The Biden administration is likely to dramatically change its approach to tax policy, with the first step in the stimulus package it began pushing through Congress this month.

The CPA Consultants Alliance held its annual meeting online to discuss challenges confronting the accounting profession from COVID-19 and elect a new slate of officers for this year.

One of the largest accounting firms in Canada struck a deal with Deloitte to acquire a significant portion of Deloitte’s business in Canada, by March 1.

The Internal Revenue Service is girding for the official start of tax season as taxpayers and preparers deal with tax breaks related to COVID-19 and questions about stimulus payments.

The U.S. Small Business Administration is taking steps to remove some of the hangups in the Paycheck Protection Program after complaints from the American Institute of CPAs and others.

Nonprofit and for-profit organizations that received Paycheck Protection Program loans could unexpectedly find themselves confronting the “single audit” requirement for the first time, even though PPP loans are supposedly exempt.

The Internal Revenue Service is alerting tax professionals about a dangerous new phishing scam.

A bipartisan group of Senate lawmakers has introduced legislation to make the Work Opportunity Tax Credit a permanent part of the Tax Code.

The GREEN Act would encourage residential investments in green energy and energy efficiency, and incentivize greater adoption of zero-emission vehicles, among other things.