Michael Cohn

The Internal Revenue Service cannot readily identify American citizens and resident aliens working in a foreign country, as well as resident aliens working in the United States, who may have improperly claimed exemption from U.S. Social Security taxes, according to a new government report.

The Securities and Exchange Commission has charged the Jacksonville, Fla.-based retail chain Stein Mart Inc. with materially misstating its pre-tax income due to improper valuation of inventory subject to price discounts and for having inadequate internal accounting controls.

Two recent reports demonstrate how tax breaks at the state and federal level can help reduce poverty.

The Internal Revenue Service is testing a new Return Review Program to help identify instances of tax return fraud, but the security of the system needs improvement, according to a new government report.

Approximately 1,100 public companies changed their audit firms in 2014, a number approximately the same as in 2013, although one company managed to change its audit firm three times last year while another changed its audit firm for the first time since 1890.

Tax services firm Ryan has acquired EnerTax Consultants to expand its severance tax practice into one of the biggest in the U.S.

The Internal Revenue Service’s Collection Due Process Program, which allows taxpayers to appeal a tax levy or lien, continues to experience problems, according to a government report.

Deloitte reported Tuesday its global annual revenues reached $35.2 billion in fiscal year 2015, a 7.6 percent growth rate in terms of local currency.

The American Institute of CPAs has sent a comment letter to the Internal Revenue Service and the Treasury Department recommending that S corporations be entitled to the same tax deductions as C corporations when it comes to worthless stocks.

PricewaterhouseCoopers has released a useful report demonstrating the many differences that remain between U.S. GAAP and International Financial Reporting Standards.

The Public Company Accounting Oversight Board has entered into a cooperative arrangement with Luxembourg’s audit regulator, the Commission de Surveillance du Secteur Financier of Luxembourg, relating to the oversight of audit firms subject to the regulatory jurisdictions of both regulators.

Meaden & Moore has signed a strategic agreement with LBC International Investigative Accounting Inc., uniting Meaden & Moore’s Investigative Accounting Group and its 11 U.S. offices and 70-member staff with LBC’s four Canadian offices and 25-member staff.

BlumShapiro has chosen Joseph Kask as the Connecticut-based accounting firm’s next managing partner, effective Jan. 1, 2016.

The Internal Revenue Service faced challenges last tax season from the late enactment of dozens of tax provisions that were set to expire, along with fraudulent refund claims, declining levels of telephone assistance and other issues, according to a new government report.

As the Baby Boomer generation ages and faces the prospect of needing to hire caregivers, accountants are increasingly being called upon to help families sort out the tax issues associated with hired domestic help.

The Internal Revenue Service has issued a notice extending the time under which certain transitional rules for the Foreign Account Tax Compliance Act, or FATCA, will apply.

The Internal Revenue Service has issued a notice and revenue procedure indicating it is studying issues related to the spinoff of real estate assets for tax reasons.

The Institute of Management Accountants has published a new Statement on Management Accounting on Implementing an Effective Risk Appetite to help businesses identify their key risk exposures.

Top executives at mid-market companies increasingly see technology as a strategic asset that can drive competitive advantage and are taking a more active role in technology decisions, according to a new report from Deloitte.

The Securities and Exchange Commission imposed sanctions Thursday against a Florida-based CPA for performing deficient and fraudulent audits and quarterly reviews for eight publicly traded companies, and issuing false and misleading audit opinions on the companies’ annual financial statements.