The Latest

Foreign financial institutions will face tax withholding penalties on Tuesday, July 1 if they have not begun to make efforts to comply with the Foreign Account Tax Compliance Act, or FATCA.

The Supreme Court clarified a portion of the ACA applying to closely held businesses, by deciding, in a 5-4 ruling, that the Department of Health and Human Services regulations under the Affordable Care Act, which impose a contraceptive mandate, violate the Religious Freedom Restoration Act of 1993.

Sole proprietors and practitioners mainly generate their revenue during tax season from tax preparation clients, but there are other opportunities for them.

Derrick Rebello has been elected as partner at Gray, Gray & Gray LLP of Canton, Mass. Rebello has worked as Gray, Gray & Gray’s director of accounting and auditing services since joining the firm in 2012.

The Internal Revenue Service is about to get an unprecedented look at bank accounts and investments U.S. citizens hold abroad, through a law that is making it harder to hide assets from the tax collector.

The Internal Revenue Service has issued final regulations on the tax credit available to certain small employers that offer health insurance coverage to their employees under the Affordable Care Act.

Ernst & Young announced involvement in a new multi-stakeholder Clinton Global Initiative America commitment to accelerating the access to and creation of employment pathways for at-risk youth.

A new academic study finds that fair value accounting was unfairly blamed for precipitating the 2008-2009 financial crisis, but acknowledges that some investors reacted positively to news that the rules would be relaxed in response to the crisis.

Vertex SMB announced a partnership with Cargas Systems to deliver a scalable solution to the middle market.

The American Institute of CPAs has created a new Web site to highlight how CPAs engage in lifelong learning and measure competency.