Michael Cohn

The House passed Republican-backed legislation Tuesday that would prevent the Internal Revenue Service from requiring tax-exempt 501(c) organizations to disclose the names of donors on Form 990.

The Treasury Inspector General for Tax Administration warned Tuesday about a new twist in the IRS impersonation scam, with fraudsters pretending to be Internal Revenue Service employees demanding taxpayers send them tax payments not only on iTunes gift cards, but on other types of gift cards as well.

The Internal Revenue Service is revising its civil asset forfeiture policies after coming under pressure from Congress for failing to return funds wrongly seized from small businesses.

The majority of companies admit they are behind on implementing the new revenue recognition standard from the Financial Accounting Standards Board, according to a new survey, despite a delay of the effective date by one year.

The Taxpayer Advocate Service has added a new Employer Shared Responsibility Provision Estimator online tool to help a business determine its potential liability under the Affordable Care Act for the employer mandate.

AccountantsWorld has integrated its Accounting Power cloud-based system with the mobile payments processor Stripe.

The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has unveiled a proposed update to its 2004 enterprise risk management framework.

South Korea is considering a bill that would allow regulators to oust the CEO of an accounting firm that is found to be negligent in controlling audit quality.

The Internal Revenue Service is warning tax professionals that next year a new law will require the IRS to hold all Earned Income Tax Credit and Additional Child Tax Credit refunds until Feb. 15 as a safeguard against identity theft and tax fraud.

The American Institute of CPAs has sent a letter to the Internal Revenue Service requesting additional guidance about how existing tax principles apply to virtual currency transactions, such as those in Bitcoin.

Lear & Pannepacker, LLP has merged in the firm of Jay Lesser CPA, PC, in Plainsboro, N.J.

The Securities and Exchange Commission said Monday it will allow companies to voluntarily file structured financial statement data in a format known as Inline XBRL.

The Internal Revenue Service has issued a revenue ruling clarifying when a real estate developer can exclude cancellation of debt income under the qualified real property business indebtedness exclusion in Section 108(a)(1)(D) of the Tax Code.

Wolters Kluwer Tax and Accounting has introduced technology to help audit automotive and equipment dealerships.

Thomson Reuters has released PPC’s Practice Aids for Audits of Form 11-K Benefit Plans to guide professionals auditing defined contribution plans that are required to file Form 11-K with the U.S. Securities and Exchange Commission.

Staggered terms of board directors at public companies have fallen out of favor in recent years, in part because they give shareholders less influence over management, and new research suggests a staggered board structure could also hurt the effectiveness of audit committees.

The Internal Revenue Service did not resolve over 159,000 injured spouse cases in a timely way, resulting in the unnecessary payment of millions of dollars in interest, according to a new government report.

Perkins & Co, the largest locally owned accounting firm in Portland, Ore., plans to merge in Thompson Kessler Wiest & Borquist PC, a local boutique firm, on July 1.

The Big Four accounting firms have come roaring back into the consulting field in the years after the Sarbanes-Oxley Act of 2002 forced three of them to shed their consulting units and now dominate the U.S. consulting market, according to a new report.

The World Gold Council, a market development organization for the gold industry, has some ideas about developing a common accounting framework for gold that could be used by central banks in countries around the world.