The Latest

The Internal Revenue Service has issued newly updated procedures for changing a business’s method of accounting for income tax purposes.

Intuit released their new QuickBooks Online Self-Employed solution for freelancers and home-based entrepreneurs.

A New Orleans woman is facing multiple felony charges for a tax fraud scheme that involved filing false state income tax returns in the names of unsuspecting people, including some prison inmates, according to Louisiana authorities.

J Sainsbury Plc will appoint Ernst & Young LLP as auditor, ending a relationship with PricewaterhouseCoopers LLC dating back about two decades.

Amazon.com Inc.’s hastily reviewed tax deal with Luxembourg doesn’t comply with international accounting standards, European Union regulators said.

Wealthstream Advisors president Michael Goodman discusses how CPA financial planners can provide high-level advice on wealth management to their clients, in an interview with Accounting Today editor-in-chief Dan Hood.

The number of purchases and sales of small businesses, at an all-time high in 2013, grew even more during 2014. In addition to further showing signs of a reviving economy, this is good news for baby boomer business owners who want to retire, and for entrepreneurs who want to own their own business.

A new report finds that every state tax system, with the exception of the District of Columbia, taxes its poorest residents at significantly higher tax rates than the wealthiest 1 percent of taxpayers.

John Veihmeyer, the global chairman of KPMG and chairman and CEO of KPMG in the U.S., has joined the board of trustees of the Financial Accounting Foundation, the parent organization of the Financial Accounting Standards Board and the Governmental Accounting Standards Board.

The Internal Revenue Service is on the verge of kicking off tax season, opening its Free File service on Friday and electronic filing next Tuesday, while dealing with the latest round of budget cuts that promise to further curtail customer service as the IRS prepares for an onslaught of questions related to the Affordable Care Act.