Michael Cohn

A former Internal Revenue Service employee has been sentenced to four years and nine months in prison in connection with a tax fraud and identity theft scheme.

The Treasury Department’s Community Development Financial Institutions Fund plans to distribute $3.5 billion in New Markets Tax Credit awards to revitalize low-income communities.

Bloomberg BNA has released “Navigating the New Road to Revenue Recognition,” a detailed overview of the new revenue recognition standard, along with guidance on how companies can prepare for its application.

Financial executives are seeing increases in salary, incentives and benefits, according to new research.

The Internal Revenue Service has released the spring 2014 edition of its quarterly Statistics of Income Bulletin, with statistics up through 2011 indicating there are still people who earn over $200,000 a year who pay no federal income taxes, although the number of them has been decreasing.

The majority of CPA business executives are optimistic about prospects for the U.S. economy in the coming year, according to a new survey by the American Institute of CPAs.

American Citizens Abroad has created a U.S. Tax Return Preparers Directory that focuses on tax preparers who have experience with the international tax issues faced by U.S. expatriates.

Thomson Reuters has released a special report on the newly issued accounting standard on revenue recognition from the Financial Accounting Standards Board and the International Accounting Standards Board.

Employers added 179,000 jobs in the private sector in May, according to payroll giant ADP, although the pace of job growth slowed somewhat from April.

The Public Company Accounting Oversight Board is continuing to find a high degree of problems in audits of broker-dealers, despite some improvements, according to PCAOB member Jeanette Franzel.

ALPFA, formerly known as the Association of Latino Professionals in Finance and Accounting, has named Charles P. Garcia as its new CEO, succeeding longtime CEO Manny Espinoza.

The Internal Revenue Service is considering expanding a program under which it delays tax refunds for up to six months for delinquent taxpayers.

The Financial Accounting Standards Board and the International Accounting Standards Board officially announced the formation Tuesday of a Joint Transition Resource Group for Revenue Recognition.

Grant Thonton LLP’s Partnership Board named J. Michael (Mike) McGuire, 55, as the firm’s CEO-elect on Monday, succeeding Stephen Chipman on Jan. 1, 2015.

Some of the major accounting firms and the American Institute of CPAs are planning to publish materials to help accountants and companies deal with the new revenue recognition standards.

The Internal Revenue Service has introduced an online tool that will allow users to check on whether a foreign financial institution has registered for the Foreign Account Tax Compliance Act, or FATCA.

Public companies have begun filing their first set of reports on so-called “conflict minerals” with the Securities and Exchange Commission to meet a deadline Monday, but advocacy groups are finding the reports are not providing much information so far.

U.S. taxpayers have sharply contrasting opinions on the fairness of the various taxes they are forced to pay, according to a new survey.

CPA firms are advising clients to begin to get ready for the newly released revenue recognition standards, even though they won’t be taking effect until 2017.

Changes in the proposed lease accounting standards that the Financial Accounting Standards Board and the International Accounting Standards Board are working to converge are expected to have an impact on approximately half of public companies, but less than 10 percent will see a major impact, according to new research by the IASB.