The Latest

The largest U.S.-based companies added $206 billion to their stockpiles of offshore profits last year, parking earnings in low-tax countries until Congress gives them a reason not to.

The Private Companies Practice Section of the American Institute of CPAs recently issued its annual Top Issues Diagnostic Report. For the fifth consecutive year, owner/partner accountability and unity has been cited among the top two issues for CPA firms comprising more than 21 professionals.

The Internal Revenue Service has revised its guidance on electronic signatures, with updated information on the currently acceptable electronic signature methods, identity verification requirements and electronic record requirements.

The American Institute of CPAs has written a letter to the Internal Revenue Service, asking the agency to postpone the effective dates for cost basis reporting for options and debt instruments.

CCH has updated its ProSystem fx Tax solution with new, integrated CCH eSign functionality in response to the IRS's recent change to Form 8879.

Marcum Search LLC, the executive recruiting affiliate of accounting and advisory firm Marcum LLP, has acquired the Melville, N.Y.-based full-service staffing firm ProSearch Inc.

Republicans in Congress want to add language to a U.S. aid plan for Ukraine that would block a proposed IRS rule curbing political activity by tax-exempt groups, Senator Bob Corker said Tuesday.

A former banker at a Credit Suisse Group AG unit pleaded guilty to helping American clients evade taxes, increasing pressure on the bank amid a U.S. probe of how it helped wealthy Americans cheat the Internal Revenue Service.

Fraud and financial crimes have grown in volume and complexity over the years, with the magnitude of damage attracting more attention among top executives, with the level of fraud particularly extensive in data-intensive industries such as financial services, government and health care, according to a new report.

Shareholders at annual general meetings are expected to question management and board members about a number of hot topics this year, included audit firm tenure, COSO’s new internal control framework, mergers, spinoffs, cybersecurity, disaster planning and executive pay, according to BDO USA.