Michael Cohn

The Internal Revenue Service and the Justice Department have decided to dismiss a case against a North Carolina small business owner from whom they had seized $107,000 in a controversial practice known as civil asset forfeiture.

The Securities and Exchange Commission has appointed Wesley R. Bricker as deputy chief accountant overseeing the accounting group in the agency’s Office of the Chief Accountant, replacing Dan Murdock, who is leaving the SEC for a job in the private sector.

The Internal Revenue Service estimates that 27 percent or $17.7 billion in Earned Income Tax Credit payments were issued improperly in fiscal year 2014, according to a new government report.

Nearly half of all states impose taxes on memberships in gyms, health clubs, athletic clubs and fitness clubs, while the rest either exempt memberships or don’t have state sales taxes at all, according to new research.

The International Federation of Accountants has released guidance to help professional accountancy organizations with their advocacy and public policy efforts, along with a proposed compliance strategy for IFAC member bodies around the world.

Companies are expanding their hiring of tax professionals.

At a recent gathering of corporate tax professionals, many confessed to uneasiness about the damage to the reputations of their companies from media reports about their tax strategies.

The Financial Accounting Standards Board has released a proposed accounting standards update to clarify the guidance on performance obligations and licensing contained in the new revenue recognition standard.

Lawmakers in the House and Senate have re-introduced legislation to encourage the creation of employee stock ownership plans in S Corporations.

Greatland is adding year-end reporting for the Affordable Care Act to its W-2 and 1099 reporting software, Yearli.

The Private Company Council that the Financial Accounting Foundation created three years ago appears to be fulfilling its mission of providing relief for privately held companies from onerous accounting requirements, but some groups are worried that it will lose its powers and independence.

H&R Block is looking for accountants, bookkeepers and salespeople to join its recently launched Block Small Business service.

The Institute of Certified Public Accountants in Ireland, also known as CPA Ireland, has signed a memorandum of understanding with the Association of Certified Accountants and Auditors of Belarus, further extending the Institute’s international network and influence in Europe.

The American Institute of CPAs has created a new membership section for practitioners and others who serve or work for the not-for-profit sector.

A site that is used to process tax forms for nonprofit organizations on behalf of the Internal Revenue Service recently suffered a data breach.

The Internal Revenue Service’s Criminal Investigation division has created a cybercrime unit to combat the growing trend of identity theft-related tax fraud as the problem morphs into data breaches and becomes more international in scope.

Karen Hawkins, director of the IRS’s Office of Professional Responsibility, is stepping down in July from her position, which probes Circular 230 violations by tax practitioners.

The Internal Revenue Service has updated its list of designated private delivery services that meet the rules for determining the postmark for timely filing and payment, eliminating DHL and adding several FedEx services.

Victims of the severe storms, tornadoes, flooding, landslides, and mudslides that took place beginning on April 2, 2015, in parts of Kentucky may qualify for tax relief from the Internal Revenue Service.

A new survey from the staffing company Accountemps of 2,200 CFOs across the U.S. found that 63 percent plan to promote their top performers, while 52 percent intend to offer raises.