Michael Cohn

The Financial Accounting Standards Board has issued an accounting standards update amending its revenue recognition standard to provide further guidance on performance obligations and licensing.

The House passed a bill Thursday prohibiting bonuses for IRS employees until the Treasury develops a better customer service strategy, the last of six bills passed this week affecting IRS bonuses, hiring practices and policies.

The Internal Revenue Service’s expanded use of controls this tax season to identify fraudulent refund claims before accepting them into its processing system has allowed the IRS to identify approximately 35,000 fraudulent e-filed tax returns and 741 paper tax returns as of Feb. 29, 2016, according to a new government report.

A senior Treasury Department official in charge of international tax policy is seeing a greater role being played by the Group of 20 finance ministers in setting the agenda for tax laws around the world.

The Senate Finance Committee passed legislation Wednesday to protect taxpayers from identity theft and tax fraud, but without a provision for regulating tax preparers.

Harriet Tubman, the leader of the Underground Railroad that brought slaves to freedom before the Emancipation Proclamation, will be the new face on the $20 bill, the Treasury Department announced Wednesday.

Exact introduced an updated version Wednesday of its enterprise resource planning and business software, Macola 10.4, with enhanced workspaces, business intelligence functionality and a financial consolidation tool for manufacturing and distribution businesses.

Atlanta accounting firm Bennett Thrasher has merged in Graves Technology, a technology consultancy also based in Atlanta.

Rep. Sander Levin, D-Mich., the ranking member of the tax-writing House Ways and Means Committee, and other House Democrats introduced legislation Wednesday to restore the estate tax and gift tax rate and exemption level to the same amounts as in 2009.

Wage growth for full-time workers accelerated in the first quarter of the year, according to a new report from payroll giant ADP.

The National Association of State Boards of Accountancy has launched a CPA Experience Verification service to provide CPA licensure applicants from the U.S. and abroad with a more coherent, standardized experience validation and verification process.

The House Ways and Means Oversight Subcommittee held a hearing Tuesday on the 2016 filing season and the Internal Revenue Service’s cybersecurity efforts.

Despite positive job numbers in recent years in the U.S., the employment picture globally appears much gloomier, according to a new survey from the Association of Chartered Certified Accountants and the Institute of Management Accountants.

The Securities and Exchange Commission announced penalties in two financial fraud cases Tuesday against companies and their former executives accused of various accounting failures that left investors without accurate depictions of company finances.

The Public Company Accounting Oversight Board released two preliminary reports Tuesday offering previews of its 2015 inspections of firms that audit publicly traded companies and broker-dealers.

Financial stress rates for U.S. workers are among the highest they have been over the last five years, as workers contend with greater financial burdens and debt, according to a new survey by PricewaterhouseCoopers.

The number of accounting-related securities class-action filings increased for the third year in a row in 2015, according to a new report.

The American Institute of CPAs has begun offering intermediate and advanced certificates to CPAs who perform “single audits” of governmental entities and grantees and audits of employee benefit plans.

A number of mobile tax apps could be putting users’ personal information at risk of exposure to hackers, according to security researchers.

Liberty Tax Service has closed 28 of its franchised locations in the New York City area, instructing them to cease preparing and filing tax returns for the remainder of the 2015 tax filing season.