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The House voted Wednesday to approve legislation rolling back a variety of financial regulations on business, including a requirement for companies with less than $250 million in annual revenue to file their financials in Extensible Business Reporting Language format with the Securities and Exchange Commission.

The latest plan in Congress to cut business tax rates faces a major obstacle: U.S. businesses.

National Taxpayer Advocate Nina E. Olson released her 2014 Annual Report to Congress, which expresses concern that taxpayers this year are likely to receive the worst levels of taxpayer service since 2001 when the IRS implemented its current performance measures.

The Internal Revenue Service is closing the last of its overseas taxpayer-assistance centers, saying that years of budget cuts have forced it to end a popular program designed to help U.S. citizens living or traveling abroad.

Taxpayers who file their tax returns on paper could face delays of a week or more on their refunds this tax season because of budget cuts, Internal Revenue Service commissioner John Koskinen warned.

Another key membership group within the Information Technology Alliance consists of the CIOs and IT leaders within some of the largest non-Big Four CPA firms in North America.

The average fee for preparing a tax return, including an itemized Form 1040 with Schedule A and a state tax return, will increase a few dollars to $273 this year, a 4.6 percent increase over the average fee last year, which was $261, according to a survey by the National Society of Accountants.

Open Systems announced the availability of Traverse InstallerX, a fully integrated suite of ERP software for flooring installers and service providers.

The IMA (Institute of Management Accountants) announced last Friday the launch of the new IMA Accounting Honor Society (IAHS), created to support and acknowledge outstanding accounting students attending accredited colleges or universities both nationally and abroad.

A group calling itself the National Academy of Public Accounting Professionals is now accepting nominations for the 2015 "Top 10 Public Accounting Professionals" awards in each state.