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Italy and Spain also offered to limit the scope of a proposed global digital tax, a concession after the U.S. threatened to hit countries with tariffs if they moved ahead with levies on tech companies.

The Internal Revenue Service wasted $22.7 million auditing tax returns that resulted in no additional revenue for the federal government, according to an agency watchdog.

CPAs have a unique view into their clients who will exit their businesses in the not-too-distant future.

The extension also applies to Americans living abroad who would otherwise generally have had a filing deadline of June 15.

Bug in the system, again; the category is fraudster; pit stop; and other highlights of recent tax cases.

The federal government’s quick action to issue stimulus payments led to more than a billion dollars of fraudulent payments, according to the GAO.

Wirecard AG filed for insolvency, the culmination of a stunning accounting scandal that led to the arrest of its CEO and left the German payment-processing firm unable to find over $2 billion missing from its balance sheet.

Top Democrats in the House and Senate are backing a measure that would deny coronavirus aid to companies that moved their official headquarters offshore to avoid U.S. taxes.

Taxpayers who are owed a refund may also get a second check this year if they took advantage of the July 15 extended filing deadline, according to the Internal Revenue Service.

Accounting firm leaders need to hold fast to growth principles in changing times.