Michael Cohn

Roomy Khan, a technology executive and financial analyst who helped convict Galleon Group founder Raj Rajaratnam on fraud charges, told a group of fraud examiners last week about how she became enmeshed in the insider trading scheme.

Currently designated empowerment zones, areas where employers and other taxpayers can qualify for certain tax incentives, will remain in place at least through the end of this year.

The Electronic Tax Administration Advisory Committee issued its annual report Wednesday, with recommendations calling on the Internal Revenue Service to expand its electronic filing efforts and digital strategy, and to offer end-to-end capabilities on online accounts for both taxpayers and tax professionals.

PricewaterhouseCoopers recently announced PwC’s new leadership team, including Maria Moats, a Latina who has been working as chief diversity officer at the firm and will assume the role of U.S. assurance leader, effective July 1.

Long Island CPA firm Janover LLC’s JRS Financial Services unit has merged in Hagan & Burns CPAs PC.

The Internal Revenue Service is missing out on imposing approximately $21.6 million in penalties on taxpayers who are denied entry or withdraw from its Offshore Voluntary Disclosure Program, according to a new report.

The long awaited credit loss standard that the Financial Accounting Standards Board released last week is expected to have a wide-ranging impact beyond only banks and financial services firms.

Deloitte has acquired substantially all the assets of Casey Quirk, a strategic consulting firm focused on the asset management industry.

The Internal Revenue Service has issued a notice offering additional transition relief for employers claiming the Work Opportunity Tax Credit.

Moss Adams LLP, based in Seattle, has agreed to combine with a Dallas–based firm, CF Accountants & Consultants, effective June 30.

The Internal Revenue Service has created a special procedure to let taxpayers whose property or funds were seized in a “legal source” structuring cases get their assets returned.

The Internal Revenue Service has released new guidelines on how wrongfully incarcerated taxpayers can take advantage of a new retroactive exclusion from income for any civil damages, restitution or other monetary award that they received in connection with their incarceration.

Financial executives are anticipating trouble adjusting to the lease accounting standard that the Financial Accounting Standards Board released in February, as FASB also rolls out its new credit loss standard Thursday.

Sharing of information on business taxes by state tax authorities could improve business tax compliance, according to a new study.

The Financial Accounting Standards Board issued Thursday its long awaited accounting standards update for credit losses, part of the convergence project on financial instruments that it has been working on with the International Accounting Standards Board for eight years.

Judge Jed Rakoff told attendees at the Association of Certified Fraud Examiners' Annual Global Fraud Conference in Las Vegas that prosecutors are falling short on prosecuting fraud.

The cost of compliance with the ever-growing Tax Code costs U.S. taxpayers a total of 8.9 billion hours and $409 billion, according to new research.

The Internal Revenue Service has released final regulations relating to the exclusion from gross income of discharge of indebtedness income of a grantor trust or an entity that is disregarded as an entity separate from its owner.

The Internal Revenue Service has issued guidance on whether payments from a qualified retirement plan during a phased retirement are considered an annuity.

The Internal Revenue Service plans to change some of its procedures for reviewing amended tax returns after a government report estimated it may have inappropriately allowed approximately $34.4 million in tax refunds and abatements.