Michael Cohn

Outgoing House Ways and Means Committee chairman Dave Camp, R-Mich., officially introduced Thursday the comprehensive tax reform package he has been laboring over in recent years.

Sen. Tom Coburn, R-Okla., has released a report highlighting billions of dollars in tax breaks for “special interests.”

The Republican and Democratic leaders of the House Ways and Means Committee have introduced bipartisan legislation to protect taxpayers against the inappropriate use of civil asset forfeitures by the Internal Revenue Service.

Prince Charles has issued a challenge to accountants worldwide to mark the tenth anniversary of his Accounting for Sustainability Project.

The Internal Revenue Service has issued an announcement extending the “deemed compliant” status of countries that are treated as if they had an intergovernmental agreement with the U.S. Treasury Department in place for purposes of the Foreign Account Tax Compliance Act.

The Internal Revenue Service issued the 2015 optional standard mileage rates on Wednesday that are used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

A pair of surveys on CFO sentiment pointed to positive expectations for the economy.

Lawmakers in Congress have included a fourth renewal on the ban on Internet access taxes as part of a spending deal to avert a government shutdown.

The Institute of Management Accountants has been named a full voting member of the International Integrated Reporting Council.

Congress has cut the Internal Revenue Service’s budget once again, reducing the tax agency’s fiscal year 2015 budget by 3 percent compared to this year’s funding level.

KPMG International said it realized record revenues globally of US$24.82 billion for the fiscal year ending Sept. 30, 2014, a 6.3 percent increase over the previous year in terms of local currency.

Officials from the Financial Accounting Standards Board and the International Accounting Standards Board spoke about the path forward on harmonizing U.S. GAAP with International Financial Reporting Standards as the two boards near the end of their convergence efforts.

The Massachusetts Society of CPAs said Tuesday that their president and CEO, Eileen McAnneny, will step down at the end of next month and a search for a new president is starting immediately.

Kirk Jacobson and Chris Wilcox, two of the partners in the Las Vegas-based accounting and financial consulting firm Johnson Jacobson Wilcox, which Accounting Today ranked No. 1 on the 2014 list of Best Firms to Work For, have created their own firm, JW Advisors.

The Internal Revenue Service needs to do more to reduce the risk of improper payments of the Earned Income Tax Credit and the Additional Child Tax Credit, according to a new government report.

Securities and Exchange Commission officials told CPAs Monday that they are considering allowing U.S. companies to provide some information, such as revenue, in International Financial Reporting Standards as a supplement to their U.S. GAAP financials on a voluntary basis.

A California CPA who allegedly defrauded a New Jersey religious facility out of more than $4 million faced his initial court appearance Monday.

Nearly four out of five CPAs in public accounting believe they will play a key role in preparing their clients for complex challenges in the decade ahead but realize they must understand and embrace emerging innovations, according to a new study commissioned by CPA.com, the technology and business arm of the American Institute of CPAs

The Securities and Exchange Commission sanctioned eight audit firms for violating auditor independence rules and the Public Company Accounting Oversight Board announced settled disciplinary orders Monday against seven other audit firms for violating independence rules in audits of broker-dealers.

The Public Company Accounting Oversight Board is finding that the push toward mandatory audit firm retendering and rotation is leading to lower audit fees in Europe, sparking audit quality concerns.