Michael Cohn

The omnibus appropriations bill that lawmakers are expected to approve ahead of a Friday deadline to avoid a government shutdown includes extra money for the Internal Revenue Service to implement the Tax Cuts and Jobs Act, while changing a provision in the TCJA that advantaged farm cooperatives over other types of grain companies.

The high court, in a 7 to 2 decision, ruled in favor of a business owner who didn't file taxes and destroyed some of his banking records, finding the omnibus obstruction clause in the Tax Code was overly broad.

The Supreme Court declined to hear a case involving a Colorado cannabis business that refused to cooperate with an Internal Revenue Service audit and turn over business records.

The Association of Chartered Certified Accountants is partnering with an association of independent accounting firms to strengthen the global talent pool.

Businesses that were early adopters of the new rules have been running into some issues with regulators and investors.

FASB's recent move to make implementation easier isn't persuading accountants it will save them any time or effort.

A new academic study suggests that the provisions in the Tax Cuts and Jobs Act encouraging companies to repatriate their foreign earnings back to the U.S. at a reduced tax rate could lead to more spending on research and development.

The Securities and Exchange Commission has accepted the latest sets of XBRL tags for financial filing.

Institute of Internal Auditors president and CEO Richard Chambers talks about how audit executives need to be more agile and overcome complacency at their organizations by using technology such as data analytics and artificial intelligence.

The Treasury Department issued a strongly worded statement in response to a report from the Organization for Economic Cooperation and Development.

The International Financial Reporting Standards Foundation has released a new set of data tags, while the Securities and Exchange Commission also renewed its files.

Taxpayers who were wrongly imprisoned will have more of an opportunity to take advantage of a tax break that Congress recently approved.

The Internal Revenue Service is cautioning tax professionals to safeguard their information from identity thieves.

The Internal Revenue Service said Friday it’s ready to process tax year 2017 returns claiming four additional tax benefits recently renewed retroactively into law, including tax breaks related to energy conservation and production.

The Center for Audit Quailty has released a new publication offering considerations for audit committee members to help with oversight of non-GAAP measures.

A new report from Sen. Ron Wyden, D-Ore., the ranking Democrat on the Senate Finance Committee, discusses how small businesses will face more uncertainty and complexity from the Republican tax law and will ultimately need help from their accountants to figure out the pass-through deduction.

The American Institute of CPAs’ Auditing Standards Board has issued an auditing interpretation to help accountants comply with standards from both the AICPA and the Public Company Accounting Oversight Board.

The U.S. Chamber of Commerce is asking the Internal Revenue Service for more guidance on the Tax Cuts and Jobs Act, asking for language specifying how qualified business income and limitations on business interest should be defined, among other matters.

Two trade groups representing farmer cooperatives and feed producers have reached an agreement to resolve a technical problem in the Tax Cuts and Jobs Act, with the support of Republican leaders in Congress who hope to include the provision within a larger appropriations bill.

The Institute of Internal Auditors and Grant Thornton have published a new book on using data analytics within the internal audit function.