The Latest

A dozen emerging technology companies, including Twitter and Facebook, have enough unused tax breaks for executive stock options to eliminate all income taxes on the next $11.4 billion of U.S. income they collectively earn, according to a new report, giving them a net federal tax cut of $4 billion.

Australia-based Sage development partner Dingosoft has released a trust accounting module for Sage 300 ERP, which was created with the Sage 300 software development kit --the same set of tools used by Sage to develop their accounting modules.

Anonymous visits by government auditors have uncovered accuracy problems with some of the tax returns prepared by volunteers who staff the Internal Revenue Service’s Volunteer Program, according to a new report.

Intuit has formed a deal with American Express Open, the small business payment card issuer division of Amex, whereby small businesses using the Open cards can have data from receipts integrated into QuickBooks and QuickBooks Online accounts.

The advocacy group Citizens for Responsibility and Ethics in Washington has filed a rulemaking petition asking the Internal Revenue Service to clarify the regulations for tax-exempt business trade groups organized under Section 501(c)6 of the Tax Code and rein in abuses by them, while also calling on the IRS to investigate one such group, Freedom Partners, which is supported by the conservative Koch brothers who own Koch Industries.

The taxation of damages is a nightmare for taxpayers.

A new report by PricewaterhouseCoopers identifies some of the pitfalls in the anti-money laundering programs that financial institutions have put in place to address the ever tougher requirements in the U.S. and other parts of the world to stem the tide of illegal sources of cash.

Cindy Fornelli, executive director of the Center for Audit Quality, discusses the PCAOB's proposed changes in audit and attest standards for broker-dealer auditors, and the U.K.'s Competition Commission proposals for mandatory retendering of audit firms, in an interview with Accounting Today editor-in-chief Daniel Hood.

The changes of previous decades have left accountants acting more like their clients’ “most trusted servants” than their most trusted advisors, according to IT expert and thought leader Doug Sleeter.

Expense report product maker Nexonia Inc. has partnered with Xero to integrate Nexonia Expenses within the cloud accounting system.