Michael Cohn

The Securities and Exchange Commission is taking a fresh look at the question of allowing U.S. public companies to use International Financial Reporting Standards.

The Financial Accounting Standards Board and the Securities and Exchange Commission have issued new guidance on so-called “pushdown accounting,” which occurs when an acquired organization uses the acquirer’s basis of accounting to prepare its financial statements.

An official from the American Institute of CPAs testified at a Senate hearing Tuesday on the need for Congress to pass legislation giving victims of natural disasters automatic access to permanent and timely tax relief.

Crowe Horwath LLP has issued a year-end tax-planning guide with information on income tax deductions, education planning, investing, retirement and estate planning, and tax rates.

The Financial Accounting Standards Board is doing more rigorous cost/benefit analyses of any new changes in accounting standards, and in some cases that is causing some of the divergence from the International Accounting Standards Board, according to FASB officials.

Sageworks has introduced Sageworks CFO, a financial analysis suite of tools for CFOs, financial professionals and executives.

A new report from a group of organizations known as the Anti-Fraud Collaboration recommends ways to combat financial reporting fraud.

The National Society of Accountants is suggesting some year-end tax tips to help businesses save money on taxes for this year and beyond, courtesy of Wolters Kluwer CCH.

The National Society of Accountants has offered a set of year-end tax tips for individual taxpayers, courtesy of Wolters Kluwer CCH.

The Supreme Court held a hearing last week on a case that could have far-reaching implications, challenging the authority of the state of Maryland to tax all of the income of a resident whose business pays taxes to other states and localities, while another case coming up on the Affordable Care Act promises to have even bigger ramifications.

The Supreme Court heard oral arguments on the constitutionality of Maryland’s personal income tax and whether it is fair for the state to deny credit for taxes paid by residents to other states.

Seventy percent of corporate tax professionals said they favor lowering the U.S. corporate tax rate, even if that means their companies would have to give up tax loopholes, according to a new study.

HD Investment Services has enhanced its 1040 Analyst wealth management tool with additional retirement planning features.

CBIZ said it would close its current office in Miami, with a small number of the staff members relocating to CBIZ's office in Boca Raton, Fla. and the remainder joining a separate firm, Cherry Bekaert LLP, in its Miami office.

The Internal Revenue Service was unable to deploy an $8.6 million case management system for matching tax returns with information returns from banks and brokerage firms reporting data such as credit card transactions and the cost basis of trades, according to a new government report.

The California Society of CPAs plans to move its headquarters from San Mateo to Burlingame.

Rosen Seymour Shapps Martin & Company LLP has been undergoing major changes as 13 of RSSM’s 24 partners have left in recent months to join other major firms in New York, Citrin Cooperman and WeiserMazars, including two former managing partners.

A group of Russian lawmakers has introduced legislation that would prohibit foreign accounting firms from auditing Russian companies in which the government owns more than a 50 percent interest.

The Internal Revenue Service may have allowed approximately $167.7 million in questionable fuel tax credit claims between 2011 and 2013, according to a new government report.

The Internal Revenue Service did not maintain effective internal control over financial reporting as of Sept. 30, 2014, because of a continuing material weakness in internal control over unpaid tax assessments, according to a new report by the Government Accountability Office.