Michael Cohn

Tobacco makers were able to avoid paying billions of dollars in federal excise taxes by reclassifying their “roll-your-own” tobacco products as pipe tobacco, and small cigars as large cigars, according to a new government report and witnesses at a Senate hearing Tuesday.

Reeling from a series of budget cuts in recent years, the Internal Revenue Service has slashed the customer service functions at its walk-in offices, but did not evaluate the potential impact of reducing or eliminating key services at 386 Taxpayer Assistance Centers prior to implementing changes at those locations, according to a new government report.

Payroll processor Paychex and the research firm HIS reported an increase in small business employment in July, with states like Washington and Michigan leading the way.

BDO USA LLP reported a whopping 22 percent revenue increase in fiscal year 2014, jumping to $833 million in the year ending June 30, compared to $683 million in fiscal year 2013.

The Internal Revenue Service is being pressed to provide more awareness of tax breaks for victims and survivors of terrorist attacks such as 9/11, including first responders.

A Spanish judge indicated that a tax evasion case against soccer star Lionel Messi will move forward, despite a prosecutor’s recommendation, according to reports.

The American Institute of CPAs’ Auditing Standards Board has amended its standards for providing so-called “comfort letters” to underwriters and other parties requesting such letters.

The scheduled depletion date for Social Security’s Disability Insurance Trust Fund is only two years away, in late 2016, according to a new government report.

Approximately 83,000 employees and contractors who work for the Department of Defense, and are eligible for a security clearance, owe more than $730 million in unpaid federal taxes, according to a new government report.

The Internal Revenue Service and the Treasury Department have released final regulations on the Premium Tax Credit for health insurance, including rules that allow victims of domestic violence to claim the credit.

Maulik Khatadia has been promoted to senior accountant in the Audit & Assurance Services department at Sponsel CPA Group.

Mark Cuban, the outspoken billionaire entrepreneur who owns the Dallas Mavericks and stars on the reality TV show “Shark Tank,” has weighed in on the increasingly controversial issue of corporate inversions with a series of tweets.

The House has passed legislation that would require taxpayers to provide a Social Security number to claim the Child Tax Credit in an effort to discourage fraud, as well as adjust the amount of the credit for inflation.

The Internal Revenue Service released draft versions Thursday of several forms for employers and individuals to comply with the Affordable Care Act, along with draft versions of more common forms such as the 1040 and 1040EZ for next filing season.

A former Internal Revenue Service employee was arrested and charged with participating in an identity theft conspiracy that used information stolen from the files of other IRS employees.

The House approved legislation to consolidate four different tax incentives for higher education into a single tax credit.

Travel and expense management software provider Certify has published the results of its latest quarterly report on the most frequently expensed vendors on business expense reports.

Despite reports that small business loans are becoming easier to obtain, a majority of small business owners don’t ever apply for them, according to a survey from the financial information company Sageworks.

The International Accounting Standards Board has issued the final element of its own long-awaited financial instruments accounting standard after failing to reach a consensus with the U.S. Financial Accounting Standards Board on key elements related to credit losses and loan impairments.

Financial restatements declined substantially in the decade after the passage of the Sarbanes-Oxley Act of 2002, according to a new academic study.