Michael Cohn

With an estimated 75 percent of CPAs expected to retire over the next 15 years, according to the AICPA, CPA firms are under pressure to recruit and retain a sufficient number of young accountants to keep the business going.

The Governmental Accounting Standards Board has issued final guidance that requires state and local governments for the first time to disclose information about tax abatement agreements.

The Internal Revenue Service has issued final regulations for determining a taxable beneficiary’s basis in a term interest in a charitable remainder trust upon a sale or other disposition of all interests in the trust, to the extent that basis consists of a share of adjusted uniform basis.

The Financial Accounting Standards Board has issued an accounting standards update on derivatives and hedging related to electricity contracts.

The causes behind Greece’s ever-worsening debt crisis have been attributed to different factors, including widespread tax evasion, harsh austerity measures, an underground economy, and predatory investment banks and hedge funds, but according to one expert, the main culprit is bad accounting.

The Internal Revenue Service said it will not assert that an individual whose personal information may have been compromised in a data breach must include in gross income the value of the identity protection services provided by the organization that experienced the data breach.

More than 75 percent of accounting firms cited revenue growth as the primary purpose of their marketing efforts, according to a new study of professional services marketing.

The Internal Revenue Service has issued final and temporary regulations removing the automatic 30-day extension of time to file information returns on forms in the W-2 series, with the exception of Form W-2G, in an effort to combat tax-related identity theft, starting in 2017.

The Financial Accounting Standards Board issued an accounting standards update on Wednesday deferring by one year the effective date of the converged revenue recognition standard that it released last year with the International Accounting Standards Board.

The American Institute of CPAs has sent a comment letter to the Financial Accounting Standards Board weighing in on proposed changes in accounting standards for not-for-profits and saying they could create divergence from the financial reporting model used by for-profit businesses.

Members of the House Ways and Means Oversight Subcommittee sent a letter Wednesday urging the Internal Revenue Service to return money it had seized from a Maryland farming couple simply because they deposited money in the bank in amounts under $10,000.

The Institute of Certified Public Accountants in Ireland and the Institute of Chartered Accountants of Bangladesh have signed a memorandum of understanding to provide an online CPA Certificate in IPSAS Financial Reporting in Bangladesh.

Employees of the Internal Revenue Service, the Treasury Department and dozens of other federal agencies and departments have elected a new president of the National Treasury Employees Union, Tony Reardon.

Accounting, tax and advisory firm CohnReznick recently hosted about 100 women executives to get them more accustomed to a common way to do business among generations of male executives.

Hillary Clinton has rolled out a plan to make college affordable that her presidential campaign has dubbed the New College Compact, enabling students to pay for higher education without taking out costly student loans.

Nearly one-third of U.S. adults believe there is a greater than 50 percent chance they will outlive their savings, according to a new survey.

The Public Company Accounting Oversight Board is seeing some improvements in audits of internal control over financial reporting, but also some contradictory findings.

The Securities and Exchange Commission has issued an interpretive rule clarifying that whistleblowers are protected by retaliation by employers even if they have not reported their concerns to the SEC first.

The National Association of Certified Valuators and Analysts has launched international chapters in Africa and Europe.

Financial Accounting Standards Board chairman Russell Golden explained how FASB is working with both the International Accounting Standards Board and other national standard-setters, including China and Germany, as FASB moves past the convergence process.