The Latest

The House Ways and Means Committee has approved legislation aimed at simplifying the many tax credits available for education.

The nonprofit Sustainability Accounting Standards Board has released provisional sustainability standards for industries in the nonrenewable resources sector, such as oil, gas and mining.

Cloud accounting and payroll technology provider AccountantsWorld has signed a strategic partnership with HBK CPAs & Consultants, a Top 100 accounting and wealth management services firm based in Youngstown, Ohio.

Fort Collins, Colo.-based Sample & Bailey CPAs PC will be joining Eide Bailly. The deal is set to close on August 4.

The founders of JDJ Resources Corporation have left Rothstein Kass Family Office Group to launch JDJ Family Office Services.

Peter Konigsberg, an accountant and lawyer who provided services to numerous clients of Bernard Madoff’s investment firm, and who was a personal tax and business adviser to Madoff, pleaded guilty Tuesday in a Manhattan federal court to various charges and faces up to 30 years in prison.

The Internal Revenue Service has posted an updated Foreign Financial Institution Agreement on its Web site for implementing the Foreign Account Tax Compliance Act, or FATCA.

PricewaterhouseCoopers has created a new video for YouTube featuring five women on the firm’s U.S. Leadership Team.

The American Institute of CPAs has sent a letter expressing strong concern with the Internal Revenue Service’s proposed voluntary certification program for tax return preparers, saying it “would cause significant legal problems that may ultimately frustrate the IRS’s goals, confuse the public, and lead to litigation.”

The Senate Finance Committee held a hearing Tuesday to examine ways to improve tax credits for education and lower student debt as part of the latest series of hearings on tax reform.