The Latest

One out of three small businesses reported spending more than 80 hours per year and more than one-quarter spend over $10,000 annually on complying with their federal tax obligations, according to a new survey by the National Small Business Association.

The Internal Revenue Service plans to take further steps to discourage taxpayers from exceeding the limits on contributions to individual retirement accounts within a single year.

If you’re scared of an audit by the IRS, there’s less to fear these days. New data show that budget cuts at the IRS mean the agency is investigating fewer wealthy taxpayers.

Highlights of some of our favorite tax-related blogs from the past week.

Todd Benson has joined the management team of Top 100 Firm, Gallina LLP, as chief financial officer.

The guide looked to compile online graduate schools that give students the best return on their investment: online colleges that meet an ideal combination of affordability and excellence, with high ROI and low debt. The ranking was built upon 20-year net ROI, cost of attendance, and national rankings. Information was compiled from payscale.com, US New & World Report, IPEDS, and the schools' own websites.

The discussion of diversity continues with Citrin Cooperman's valuation services practice leader, Mandeep Trivedi and Accounting Today's managing editor, Tamika Cody. The two discuss the steps that needs to be taken in order to recruit and retain more people of color in the accounting profession.

The International Auditing and Assurance Standards Board has released a revised International Standard on Auditing that encourages auditors to thoroughly read through a company’s annual report when auditing, as it provides critical information to the auditor and is ultimately beneficial to the public interest.

The Financial Accounting Standards Board appears to be poised to delay the effective date of its new revenue recognition standard by a year, giving U.S. companies more opportunity to adapt to the changes.

Top 100 Firm Schneider Downs has entered an agreement to merge with the investment banking and management consulting company, The Meridian Group. As a result of the new combination, the firm will take on the new name Schneider Downs Meridian LP.