The Latest

The Internal Revenue Service is revising its civil asset forfeiture policies after coming under pressure from Congress for failing to return funds wrongly seized from small businesses.

The majority of companies admit they are behind on implementing the new revenue recognition standard from the Financial Accounting Standards Board, according to a new survey, despite a delay of the effective date by one year.

The Taxpayer Advocate Service has added a new Employer Shared Responsibility Provision Estimator online tool to help a business determine its potential liability under the Affordable Care Act for the employer mandate.

AccountantsWorld has integrated its Accounting Power cloud-based system with the mobile payments processor Stripe.

The Virginia Society of Certified Public Accountants (VSCPA) announced on Tuesday the winners of its Outstanding Member of the Year and Top 5 Under 35 awards at a new ceremony prior to the Society's annual business meeting, held May 25 in Williamsburg.

Donald Trump has said his main tax-policy goal is a cut for the middle class, yet his guest list for a series of policy presentations at Trump Tower included a Reagan-era economist who has suggested revamping that plan.

The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has unveiled a proposed update to its 2004 enterprise risk management framework.

South Korea is considering a bill that would allow regulators to oust the CEO of an accounting firm that is found to be negligent in controlling audit quality.

The Internal Revenue Service is warning tax professionals that next year a new law will require the IRS to hold all Earned Income Tax Credit and Additional Child Tax Credit refunds until Feb. 15 as a safeguard against identity theft and tax fraud.

The American Institute of CPAs has sent a letter to the Internal Revenue Service requesting additional guidance about how existing tax principles apply to virtual currency transactions, such as those in Bitcoin.