Michael Cohn

The Internal Revenue Service has proposed regulations changing the amount of the penalties for failing to include information required to be disclosed about reportable transactions.

The Internal Revenue Service did not always follow its own procedures when selling some of the property it seized for unpaid taxes, according to a new report.

The Financial Accounting Standards Board has issued a proposed accounting standards update to clarify the implementation guidance on principal versus agent considerations contained in the new revenue recognition standard.

The Internal Revenue Service is waiving penalties assessed against any college, university or other educational institution for Forms 1098-T that were filed with an incorrect or missing taxpayer identification number.

While accounting scandals in the Netherlands have not been making a whole lot of headlines in the U.S., they have been generating plenty of controversy at home.

The chairmen of Congress’s two main tax committees, House Ways and Means Committee chairman Paul Ryan, R-Wis., and Senate Finance Committee chairman Orrin Hatch, R-Utah, have written to Treasury Secretary Jacob Lew saying he should hold off on developing country-by-country reporting regulations for taxation of multinational corporations.

Wolters Kluwer Tax & Accounting US said it has been selected for the 11th straight year by the Internal Revenue Service to deliver its sales tax rate and taxability tables to help taxpayers across prepare their tax returns.

Accounting, tax preparation, bookkeeping and payroll services are collectively the most profitable industry in the U.S., according to a new ranking.

Only 10 percent of accounting and finance professionals believe there is someone internally who could easily step in to fill their role if they quit, according to a new survey.

The Senate Appropriations Committee is proposing to increase the length of the Schedule EIC for claiming the Earned Income Tax Credit, requiring taxpayers to include much the same information on self-prepared returns that paid tax preparers are required to ask them on the EITC due diligence checklist.

Paychex has released a list of what it sees as the top regulatory issues of this summer.

The Governmental Accounting Standards Board has published a new authoritative implementation guide that details comprehensive authoritative implementation guidance that has been cleared by the board for state and local governments.

Last year, the percentage of non-audit fees dropped below 10 percent of the total fees paid to audit firms for the first time since Sarbanes-Oxley, according to a new report.

A former Internal Revenue Service employee has been sentenced to two years and one day in prison for his role in an identity theft tax refund fraud scheme.

Financial Executives International has appointed Andrej Suskavcevic as president and CEO of both FEI and the trade group’s Financial Executives Research Foundation.

Sixty-two percent of finance and accounting workers said they are confident about their ability to find a new job, while 78 percent believe it is unlikely they will lose their jobs over the next 12 months, according to a new survey.

Mark Citrin, the son of Citrin Cooperman co-founder Niles Citrin, reportedly slashed his father before leaping to his death from a Manhattan skyscraper in a tragic incident Wednesday.

The Internal Revenue Service published statistics and reports Wednesday analyzing trends in 2012 and 2013 tax returns.

The American Institute of CPAs has released new guidance in Q&A format on required supplementary information for audited financial statements.

The budget deficit this year is estimated to be $426 billion, $60 billion less than projected in March, according to new estimates from the Congressional Budget Office, thanks to stronger tax revenues.