Accountants have a duty to make sure their clients' confidential financial files and tax forms are kept safe, and fortunately there are some good products on the market for doing just that.
H&R Block has been holding an online contest soliciting votes on who is the “Greatest Hipster in History,” and the winner, for some reason, seems to be the ancient Greek philosopher Socrates.
Whether they realize it or not, taxes ended up going up for most taxpayers last year, despite the extension of the Bush tax cuts at the beginning of last year.
The guidance issued by the Internal Revenue Service this week treating virtual currencies such as Bitcoin as property rather than currency for federal tax purposes may end up helping Bitcoin investors, even though it means Bitcoin users will need to be extra careful to report their transactions from now on.
Foreign banks and other financial institutions are facing a number of deadlines this year for complying with the Foreign Account Tax Compliance Act, or FATCA, which is forcing many of them to wake up belatedly to the complex demands thrust upon them by the new reporting regime.
A majority of public companies may be able to avoid the need to file their financial reports using Extensible Business Reporting Language, or XBRL, technology if a congressional bill gets signed into law.
CCH is warning participants in the NCAA college hoops March Madness brackets that any of their winnings in the office pool will be subject to taxes.
Last November, the Financial Accounting Standards Board endorsed simplifying the accounting standards that private companies use in measuring and reporting goodwill, and FASB is currently looking into the possibility of changing the standards for public companies too.
Deloitte held its board meeting in New York this past week and also took time to meet with some members of the press to discuss its diversity and recruiting efforts.
Credit card and bank card skimmer fraud has spread around the world, stealing from consumers and banks at locations ranging from gas stations to ATMs and restaurants, according to a report from ACCA USA, the U.S. arm of the Association of Chartered Certified Accountants, and Pace University in New York.