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Bloomberg Tax released a new line of corporate tax software Wednesday known as Advantage, providing technology for handling fixed assets, federal and state tax, net operating losses, provision analysis, and sales and use tax rates.

The Financial Accounting Standards Board released an accounting standards update Wednesday to help companies deal with the stranded income tax effects in accumulated other comprehensive income stemming from the Tax Cuts and Jobs Act.

PricewaterhouseCoopers signed an agreement Wednesday to sell its U.S. Public Sector business to the private equity firm Veritas Capital.

The Treasury Department has proposed to repeal nearly 300 tax regulations, many of which have become obsolete with the passage of the new tax law and earlier legislation, in some cases dating back to 1942.

American Institute of CPAs president and CEO Barry Melancon discussed how the AICPA pushed for changes in the new tax law, with mixed success, during a speech at an Accountants Club of America meeting in New York on Wednesday.

Treasury Secretary Steven Mnuchin said the Internal Revenue Service will issue guidance within the next two weeks to prevent hedge-fund managers from dodging new tax rules on carried-interest profits.

The new offering is designed to help employees plan more collaboratively with finance departments.

The new graduate program will be the first of its kind to be offered in Long Island.

The tool is part of the firm’s Digital Workforce Transformation initiative, which uses a four-step approach to build a tech-focused culture.

The buy adds incentive management capabilities that help companies comply with the new rev-rec standard.