Michael Cohn

PricewaterhouseCoopers has reached a settlement in a multibillion-dollar lawsuit involving the 2009 collapse of Taylor Bean & Whitaker Mortgage Corp.

Executives are worried about whether their companies are doing enough to protect themselves against financial crimes such as money laundering and fraud in the wake of the release of the Panama Papers.

The Internal Revenue Service is closing off admission to a program that allows large corporations to discuss and resolve their tax issues with the IRS before filing their tax returns, due to budget constraints.

The Internal Revenue Service has modified a policy it instituted earlier this year on not providing letter rulings or determination letters on certain tax questions related to distributions of stock of controlled corporations and will now provide them in two specific areas.

The Internal Revenue Service has released new guidance for taxpayers making certain elections and filing amended returns to take advantage of the tax extenders in last December’s PATH Act for bonus depreciation.

Nonprofit organizations and their accountants may want to adopt Financial Accounting Standards Board’s new standard for not-for-profits early before they have to begin adjusting to some of the other new standards coming out from FASB.

The Internal Revenue Service and the Treasury Department are providing new guidance on the requirements for professional employer organizations seeking voluntary certification, relaxing some of the original requirements for submitting written opinions and attestations from CPAs.

The Internal Revenue Service is offering a safe harbor for businesses using property that has been financed with tax-exempt bonds.

PricewaterhouseCoopers has released a quick overview of the Financial Accounting Standards Board’s lease accounting standard.

The Internal Revenue Service unveiled a new procedure Wednesday to help people who accidentally miss the 60-day time limit for rolling over their retirement plan distributions into another qualified retirement plan or individual retirement account.

The CPA Consultants’ Alliance has appointed Bonnie Buol Ruszczyk of bbr marketing as the group’s new Marketing Chair and Carrie Steffen of the Whetstone Group as the new Deliverables Chair.

The Public Company Accounting Oversight Board has inked a cooperative agreement with the German Auditor Oversight Body, a new regulator for audit firms in Germany.

National Taxpayer Advocate Nina Olson has posted responses from the Internal Revenue Service to her recommendations for improving taxpayer service, along with papers delivered by presenters at an international conference her office convened last November on taxpayer rights.

ICBUSA, part of the Institute of Certified Bookkeepers, has partnered with the Landy Insurance Agency to offer professional liability insurance, privacy and cybercrime coverage to ICBUSA members.

A review of the Governmental Accounting Standards Board’s 2006 standard for pollution remediation reporting found it generally achieved its goal of improving the disclosures of state and local governments’ obligations to control pollution.

Ostrow Reisin Berk & Abrams Ltd. has added Red Granite, an accounting and financial services firm that offers cloud-based bookkeeping and outsourced CFO services.

A federal appeals court has ruled in favor of two Ernst & Young employees who wanted to participate in a class-action lawsuit against the firm about overtime pay rather than submit to mandatory arbitration.

Republican leaders of the Senate Finance Committee and the House Ways and Means Committee are asking the Treasury Department to go back to the drawing board on proposed regulations for changing the tax treatment of corporate debt and equity to curb corporate earnings stripping.

The Internal Revenue Service has created a new webpage with information to help people who participate in the so-called “sharing economy” get timely tax advice.

Salaries for accountants and finance professionals are expected to go up 2.8 percent in 2017, an increase from the 2.4 percent anticipated for this year, according to a soon-to-be-released salary guide from the staffing company Accounting Principals.