Michael Cohn

Ernst & Young has released the results of its latest survey with the Tax Council of tax executives and tax practitioners about their predictions for tax reform.

The Obama administration released its fiscal year 2017 budget containing a number of tax increases on high-income taxpayers, oil and foreign income, along with tax breaks for the middle class and small businesses, plus a provision giving the Treasury Department the explicit authority to regulate all paid tax preparers.

The Securities and Exchange Commission said Tuesday that St. Louis-based agribusiness Monsanto Company has agreed to pay an $80 million penalty and retain an independent compliance consultant to settle charges that it violated accounting rules and misstated company earnings pertaining to its flagship product Roundup.

Nonprofit accounting software developer Aplos has raised $4 million in a Series A round of funding from San Joaquin Capital, a new venture capital firm that specializes in financing technology companies in California’s Central Valley.

A former Internal Revenue Service revenue agent is facing trial this week for soliciting and receiving a bribe from the owner of a Seattle marijuana dispensary.

The Internal Revenue Service has issued inflation adjustments for several tax breaks involving schoolteacher expenses, transit fringe benefits and Section 179 expensing of certain depreciable assets.

Morison International and KS International have merged to form a $1 billion international association of accounting and professional services firms to be known as Morison KSi.

The Governmental Accounting Standards Board has issued a proposal to establish a single approach for state and local governments to report leases based on the principle that leases are financings of the right to use an underlying asset.

Congress’s passage of legislation last December making many expired tax breaks permanent adds an extra measure of certainty for tax preparers helping their clients with tax planning this year.

The Internal Revenue Service needs to have better processes in place to administer its federal unemployment tax program, according to a new report.

The Internal Revenue Service has issued the maximum vehicle values for 2016 that taxpayers need to determine the value of personal use of employer-provided vehicles.

A group of community bankers from the Independent Community Bankers of America met last week with the Financial Accounting Standards Board to discuss their concerns with FASB’s upcoming impairment standard on credit losses.

The International Federation of Accountants has issued a report calling for governments around the world to stop issuing a patchwork set of regulations that are stifling economic growth.

Accounting, tax, bookkeeping and payroll businesses have been growing sales at a healthy rate this past year, according to the latest numbers from the financial information company Sageworks.

The unemployment rate dipped one-tenth of a percentage point to 4.9 percent as employers added 151,000 jobs in January, to the U.S. Bureau of Labor Statistics reported Friday, including 5,800 jobs in accounting and bookkeeping services.

Rucci Bardaro & Falzone acquires Jensen Malley & Company; and Jarrard, Nowell & Russell merges in Biddlecomb Game & Wise.

Sen. Ron Wyden, D-Ore., the ranking Democrat on the Senate Finance Committee, along with a group of other Senate Democrats, have introduced legislation to make the Saver's Credit into a refundable tax credit to help more working families and middle-class Americans save for retirement.

Internal auditors are increasingly finding themselves tasked with new responsibilities that carry some degree of risk, according to a new report.

Crowe Horwath International said that total global gross revenues of its member firms grew to US$3.5 billion for calendar year 2015.

The Internal Revenue Service said it resumed processing individual and business tax returns at approximately 5 p.m. Thursday following resolution of its system outage.