Michael Cohn

The Organization for Economic Cooperation and Development’s Base Erosion and Profit Shifting action plan is likely to have a major impact on tax planning at multinational corporations by both tax professionals and corporate treasurers.

A new Inspector General report faults the security of the computer connections at the Internal Revenue Service.

The economy added a surprisingly robust 271,000 jobs in October, including 3,400 jobs in accounting and bookkeeping services, sending the unemployment rate down one-tenth of a percent to 5.0 percent, the lowest rate in seven years.

A new study predicts the Securities and Exchange Commission’s final regulations on clawbacks of incentive based compensation for corporate executives could backfire and only encourage companies to avoid the kinds of financial restatements that might trigger a clawback.

The House passed a highway funding bill Thursday that includes a provision reviving the use of private debt collectors by the Internal Revenue Service.

Sage has revamped two of its accounting software products for small and midsize businesses, rolling out Sage 100c and Sage 300c.

Sales tax technology provider Avalara is integrating with EPiServer, an ecommerce and digital marketing software provider that has become a certified solution partner for Avalara.

Wolters Kluwer, CCH Small Firm Services has added new features and integration to the 2015 edition of its professional tax preparation software products, ATX and TaxWise.

Business confidence in the economy is at its lowest point around the world in four years, according to a new survey by the Association of Chartered Certified Accountants and the Institute of Management Accountants.

The International Federation of Accountants has published a paper calling for more “integrated thinking” by accountants.

The American Institute of CPAs and the National Association of State Boards of Accountancy have proposed to create a “Retired-CPA” status to deal with the wave of Baby Boom retirees in the profession.

Patterson & Company CPAs, a tax and accounting services firm that specializes in the restaurant and professional services industries, has acquired the Louisville, Ky., practice of Billy D. Morgan, CPA.

S&P 500 companies are being more transparent about how their audit committees are choosing and paying audit firms.

Employers added 182,000 jobs in the private sector last month, according to payroll giant ADP, although there were slowdowns in some areas, including professional and business services and among large companies.

Internal Revenue Service commissioner John Koskinen told a group of tax practitioners that budget cuts at the agency are harming not only taxpayers, but tax practitioners as well, and warned that unless Congress acts on tax extenders legislation, tax season might need to be delayed next year. At the same conference, National Taxpayer Advocate Nina Olson complained of declining taxpayer service levels by the IRS and obstructions to the work of her office on behalf of taxpayers.

Small businesses continued to hire more workers last month, but the pace of job growth is slackening, according to a new report.

BDO USA has re-elected Wayne Berson to a second term as CEO of the firm.

President Obama signed into law on Monday a two-year budget deal that Congress approved last week to raise the debt limit and avert a default. To help pay for it, the bill includes a provision that will make it easier for the Internal Revenue Service to audit large partnerships, including hedge funds, private equity firms and even accounting firms.

The American Institute of CPAs’ Financial Reporting Executive Committee has released for comment working drafts of revenue recognition implementation issues it has identified for the aerospace and defense industry and the investment asset management industry.

Deloitte has acquired Bonaccorso & Associates, a boutique accounting firm in Vaughan, Canada that serves small and midsize private companies with a focus on family businesses.