Michael Cohn

Editor-in-chief, AccountingToday.com

Michael Cohn, editor-in-chief of AccountingToday.com, has been covering business and technology for a variety of publications since 1985. Prior to joining Accounting Today and WebCPA, he worked for Red Herring, Internet World, Beyond Computing, Accounting Technology and PC Magazine, and freelanced for a variety of other business publications. A graduate of the University of Pennsylvania with a BA in English, he studied accounting at the Wharton School of Business, and currently lives in New York City.

Tax forms

IRS improves online Withholding Estimator to reflect new W-4

The Internal Revenue Service unveiled an enhanced Tax Withholding Estimator on its website Tuesday, designed to help workers fill out the new W-4 withholding form and hopefully avoid the problems seen last year when many taxpayers found themselves owing more taxes or receiving less of a tax refund than they expected.

By Michael Cohn

January 14
SALT deduction

New Jersey governor signs bill to bypass SALT cap on small business tax deductions

New Jersey Governor Phil Murphy signed legislation Monday giving small businesses in the Garden State a workaround for the $10,000 cap on state and local tax deductions under the Tax Cuts and Jobs Act.

By Michael Cohn

January 13
Whistleblower

IRS whistleblower awards declined steeply in FY19

The Internal Revenue Service’s Whistleblower Office made 181 awards to whistleblowers in fiscal year 2019, totaling over $120 million and collected more than $616 million.

By Michael Cohn

January 13
Tax prep software

IRS opens revamped Free File program

Changes should make it easier for taxpayers to find the free versions of tax prep software from vendors who have been accused of misleading consumers into paying for the products.

By Michael Cohn

January 10
Tax relief

AICPA wants more clarity on Sec. 465 reporting relief for S corps

The institute has asked the IRS and the Treasury to issue a notice clarifying that relief will also apply to S corporations.

By Michael Cohn

January 10
Blockchain

Blockchain makes advances, but audit firms remain wary

Accounting firms are beginning to wade into the use of blockchain technology for audits, but with caution as the technology spreads beyond the cryptocurrency space where it’s been used for digital assets like Bitcoin.

By Michael Cohn

January 9
Tax exemptions

Many 501(c)4 tax-exempt groups aren’t notifying the IRS

Many dark money groups that raise funds for political and social causes and don’t pay taxes aren’t notifying the Internal Revenue Service of their intent to operate as tax-exempt organizations under section 501(c)4 of the Tax Code and haven’t been penalized, according to a new report.

By Michael Cohn

January 9
IRS

IRS sets up online Gig Economy Tax Center

The Internal Revenue Service debuted a new Gig Economy Tax Center on its IRS.gov website to help taxpayers who work with companies like Uber and Airbnb meet their tax obligations.

By Michael Cohn

January 9
Corporate ethics

IESBA revises assurance independence standards for international code of ethics

The International Ethics Standards Board for Accountants has released a set of revisions to the International Code of Ethics for Professional Accountants, making some changes in the independence standards for assurance engagements, other than audit and review engagements.

By Michael Cohn

January 8
M&A

M&A roundup: Windes, UHY, TYS and McGuire Sponsel do deals

Windes merges in Smith, Linden & Basso; UHY Advisors acquires Stewart, Beauvais & Whipple; TYS merges with Lefkowitz; and McGuire Sponsel acquires Align Global Consulting.

By Michael Cohn

January 8