Michael Cohn

Mandatory rotation of auditing firms could lead to more “opinion shopping” by companies looking for clean opinions on their internal controls, a new study suggests.

Small business sentiment dropped in the first half of the year, with small business owners citing concerns about the economy, regulation and the presidential election, according to a new survey.

The House Ways and Means Committee has passed three bills related to the Internal Revenue Service in the areas of taxpayer identity theft, recovery of missing children, and donor information for tax-exempt organizations.

The Internal Revenue Service has issued inflation-adjusted deduction limits for health savings accounts next year.

The Internal Revenue Service reported that the average annual tax gap has increased to $458 billion for tax years 2008-2010, compared to $450 billion for tax year 2006.

The Internal Revenue Service plans to make changes in its procedures and computer systems to better identify a taxpayer’s outstanding tax debts and subtract them from the tax refunds they receive, particularly for owners of small businesses.

Jim Boomer will succeed his father L. Gary Boomer as CEO of Boomer Consulting, Inc., as part of a long-term succession plan that has been underway for the last seven years and includes several other big moves at the prominent accounting firm consultancy.

TaxAct plans to launch a new sweepstakes next week for tax professionals to celebrate the end of tax season.

The Financial Accounting Standards Board has voted to proceed with issuing a long-awaited standard in June on credit losses on loans and other financial instruments, a key component of its financial instruments convergence project with the International Accounting Standards Board, and to defer the effective date for one year.

The National Association of State Boards of Accountancy’s Center for the Public Trust has introduced an Ethical Leadership Training and Certification for business professionals.

REDW LLC, one of the Southwest’s 10 largest accounting firms, has elected Steve Cogan as managing principal, succeeding Ron Rivera, who has served as firm-wide managing principal for the past 15 years.

Sikich LLP plans to acquire the assets of Brockman, Coats, Gedelian & Co., BCG Systems, Inc. and BCG Wealth Advisors, LLC in the biggest acquisition ever for the Illinois-based firm.

Many small business owners who received tax refunds plan to invest the money in their businesses, according to a new survey.

The Vatican’s Holy See has suspended its contract with PricewaterhouseCoopers but stressed that the suspension is not due to problems with PwC’s work.

Top 100 firm RubinBrown announced several leadership changes Tuesday, with Jim Castellano stepping down as chairman when his term expires on May 31 and managing partner John Herber succeeding him as chairman.

Sen. Ron Wyden, D-Ore., has proposed to simplify the complicated capital depreciation rules for businesses.

The annual Rosenberg Survey of CPA firm management is preparing to get underway.

A Georgia couple have pleaded guilty to participating in a identity theft-related tax fraud scheme in which they used the Internal Revenue Service’s online ‘Get Transcript’ application to steal other taxpayers’ refunds.

The Massachusetts Society of Certified Public Accountants said Tuesday that Carla McCall was elected the chairman of the board of directors for the 2016-2017 fiscal year.

To improve accountability around the world, representatives of the U.S. Government Accountability Office’s Center for Audit Excellence and the U.S. Agency for International Development signed a memorandum of understanding on Monday to set up a framework for collaboration on training and technical assistance efforts.