Michael Cohn

BDO USA released its 2023 Audit Quality Report Tuesday as it added a second independent member to its Audit Quality Advisory Council.

Sen. Bernie Sanders and Ed Markey are introducing legislation to impose a 95% windfall tax on the excess profits of large corporations that are overcharging for products.

The Internal Revenue Service switched over from focusing its audits on taxpayers earning $10 million or more to those earning $400,000 or more after passage of the Inflation Reduction Act.

The Treasury Department provided formal notification to Russian authorities that it's partially suspending a tax treaty as relations worsen over the war in Ukraine.

Global Reporting Initiative CEO Eelco van der Enden plans to step down at the end of the year when his three-year contract concludes.

The Internal Revenue Service released a revised draft version of Form 6765, the Credit for Increasing Research Activities, in response to feedback.

The Internal Revenue Service plans to begin slowly paying some of its older claims for the fraud-plagued Employee Retention Credit this summer, but is not lifting its moratorium.

Paul English plans to further extend the accounting and advisory firm network to more countries.

The Public Company Accounting Oversight Board levied sanctions against firms in the U.S., Canada and the United Arab Emirates for violating various rules and standards.

The Internal Revenue Service is easing the rules for claiming a tax refund tied to a claim for the research and development tax credit.

The Treasury Department and the Internal Revenue Service released prevailing wage and registered apprenticeship requirements for clean energy projects and jobs to qualify for tax credits under the Inflation Reduction Act.

The Internal Revenue Service and the Treasury Department issued guidance answering questions related to educational assistance programs.

Clark Schaefer Hackett is adding Rolfes & Swisher; and RKL Virtual Management Solutions is merging in Kauffman CPA.

The Internal Revenue Service is setting up a new unit to target the use of basis shifting between related parties as a way for partnerships to avoid paying taxes.

The Institute of Management Accountants held its annual conference this week in San Antonio, Texas, where it discussed ways to attract more people to join the profession.

CFOs remain divided on the prospects for the economy and continue to see risks from inflation, cybersecurity, generative AI and talent shortages, according to a new survey from Deloitte.

Ernst & Young's U.S. firm intends to invest $1 billion over the next three years in talent and technology to improve the attractiveness of the accounting profession.

A variety of business groups have been filing lawsuits to stop the Department of Labor's overtime rule, which is set to go into effect on July 1.

The Securities and Exchange Commission has reappointed Erica Williams to another term as chairperson of the Public Company Accounting Oversight Board.

The Internal Revenue Service has been making efforts to reduce the overall amount of space it rents, but it nevertheless has lots of unnecessary space that it's paying hundreds of millions of dollars for every year.