Michael Cohn

The Internal Revenue Service has proposed guidance on the new partnership audit regime that promises to make it easier for firms, if not all their partners, but with some extra complications added by the new tax reform law.

The Securities and Exchange Commission is giving companies some leeway as they prepare their quarterly financial statements after passage of the Tax Cuts and Jobs Act.

Hawkins Ash CPAs acquires Thomas Cummings; and Pease& Associates merges in Levin Swedler Kennedy.

Wolters Kluwer Tax & Accounting has released guides for both consumers and tax professionals to the new tax reform law that President Trump signed into law Friday.

Happy Tax, a growing tax franchise, has opened a new tax preparation division aimed at the burgeoning cryptocurrency market.

Thomson Reuters’ Checkpoint Catalyst research service has added guidance on the Financial Accounting Standards Board’s new impairment rules requiring companies to recognize estimated credit losses sooner.

The Financial Accounting Standards Board has made available the 2018 GAAP Financial Reporting Taxonomy along with the 2018 SEC Reporting Taxonomy, pending final acceptance by the Securities and Exchange Commission.

The tax reform legislation that Congress approved Wednesday has a number of complexities that could prove problematic for tax professionals and their clients.

The Public Company Accounting Oversight Board said Wednesday it has imposed a $1.5 million civil penalty against Grant Thornton LLP and censure the firm for violations of quality control standards and for audit failures.

American Institute of CPAs president and CEO Barry Melancon issued a statement Wednesday following passage by Congress of the Tax Cuts and Jobs Act expressing disappointment that the bill doesn’t give CPA firms the same favorable tax treatment provided to other pass-through entities.

Eide Bailly LLP, a Top 100 Firm, is expanding in Denver by adding Heider, Tanner & Dirks, Inc, effective Jan. 15.

The Governmental Accounting Standards Board has released a new Implementation Guide with questions and answers about GASB’s new standards on accounting and financial reporting for postemployment benefits other than pensions, such as retiree health care.

The tax reform bill heading toward passage in Congress is likely to help the bottom lines of many companies with lower taxes, but a new academic study suggests the impact on CEOs could have mixed results.

The tax reform bill that’s due for a vote this week in Congress will leave lots of tax loopholes for taxpayers and tax practitioners to strategize around for years to come.

More than 50 percent of New Jersey CPAs are in favor of legalizing recreational marijuana in the Garden State, but 47 percent are opposed, according to a new poll by the New Jersey Society of CPAs.

State and local governments could gain between $8 billion and $13 billion in tax revenue this year if states were given the authority to require sales tax collection from all remote sellers, such as e-commerce websites, according to a new government report.

Two years ago, the Financial Accounting Standards Board decided to defer the effective date of the revenue recognition standard for a year until Dec. 15, 2017 for public companies to give them more time to adjust to the new standard and to work out some kinks in the far-reaching rules. The deferred effective date arrived Friday, and many companies still aren’t ready.

Brown Edwards is set to merge in Gibbons & Kawash; Sax Wealth Advisors acquires GM Financial Group; Freed and Dardeno combine; and FF&F adds CPI.

The Internal Revenue Service released revised guidance Thursday extending its relief for certain partnerships, real estate mortgage investment conduits, and other organizations that didn’t file the necessary returns by the new due date for tax years beginning in 2016.

The Internal Revenue Service released on Thursday the 2018 optional standard mileage rates that taxpayers and tax professionals can use to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.