Michael Cohn

A convicted tax preparer who was sentenced to probation in 2012 has now received a prison sentence for continuing to prepare and file tax returns in violation of a court order.

Many large privately held companies are more profitable and are growing revenues faster than publicly traded companies in the U.S., according to new data.

The Securities and Exchange Commission voted Wednesday to propose rules to require companies to disclose the relationship between executive compensation and the financial performance of a company.

Leaders of the Senate Finance Committee are being inundated with suggestions for tax reform, despite the limited prospects for comprehensive reform ahead of next year’s elections.

The International Federation of Accountants has convened the first meeting of a coalition of major accounting firms, civil society groups and international organizations to develop strategies to encourage high-quality public sector financial reporting, greater government transparency and accountability, and empowered citizen engagement.

The requirements in the Sarbanes-Oxley Act for outside audits of internal control may actually be penalizing companies that reveal problems with their controls, according to a new study.

The Internal Revenue Service needs to do better at ensuring that health insurance policy issuers and self-insured plan sponsors pay a fee required under the Affordable Care Act known as the Patient-Centered Outcomes Research fee, according to a new government report.

The Financial Accounting Standards Board issued for public comment Wednesday a proposed accounting standards update that would defer the effective date of its new revenue recognition standard by one year.

Members of the International Forum of Independent Audit Regulators agreed in principle on the text of a multilateral arrangement for exchanging information about audit firms during a meeting in Taipei.

The International Accounting Standards Board voted Tuesday to propose a one-year deferral of the revenue recognition standard that the IASB converged last year with the U.S. Financial Accounting Standards Board.

Senior financial professionals polled by the Institute of Management Accountants reported little impact on their hiring plans as a result of the Affordable Care Act.

The Internal Revenue Service needs to make further improvements in how it audits partnership tax returns, including assessing how much additional tax the partners owe after a partnership return is audited, according to a new government report.

The American Institute of CPAs is pushing to improve the quality of employee benefit plan audits, in part by discouraging unqualified firms from offering the service, in advance of an upcoming report from the U.S. Department of Labor that is expected to find continuing problems with the quality of one-third of the audits.

A New Jersey CPA and lawyer has been sentenced to 27 months in prison for conspiring with a mortgage broker to extort and defraud police officers and other victims by falsely claiming they were the subjects of Internal Revenue Service criminal investigations that he could resolve if they paid up to $20,000.

The American Institute of CPAs has issued a set of questions and answers on the services a practitioner can provide in connection with the American Land Title Association’s Best Practices Framework for real estate settlement.

A Miami resident has been charged with threatening to destroy the Internal Revenue Service building with either fire or a bomb.

H&R Block said Monday that two-thirds of tax filers among its client base who received health insurance coverage under the Affordable Care Act via the state or federal insurance marketplaces had to pay back an average of $729 of the Advance Premium Tax Credit, cutting their potential refund by nearly one-third.

The Financial Accounting Standards Board has proposed three accounting standards updates related to employee benefit plans and another update for electricity contracts.

Senators Jack Reed, D-R.I., and Chuck Grassley, R-Ia., have re-introduced legislation to make disciplinary proceedings of the Public Company Accounting Oversight Board public in order to expose auditing deficiencies at firms or the companies they audit in a timely way and help curb violations.

The Clinton Foundation is reportedly planning to re-file five years’ worth of tax returns after questions arose over donations by foreign governments to the charitable foundation run by Bill, Hillary and Chelsea Clinton.