The Latest

Under some circumstances, the provision of services by a corporation to its shareholders is “property” within the meaning of Code Section 317(a), which can result in the IRS finding that there was a constructive dividend to the shareholder.

The Internal Revenue Service has combined parts of several revenue procedures into a new revenue procedure that provides relief to companies that make late elections to become S corporations.

The Motion Picture Association of America has resolved a dispute with Chinese authorities over value-added tax payments that had held up payment for Hollywood movies distributed in China.

The Massachusetts Society of CPAs announced the winners of its annual Women to Watch Awards, recognizing women who have made achievements in the profession, demonstrated leadership and contributed to their communities.

AccountMate Software Corp. has formed a strategic partnership with AvidXchange to allow channel partners to help their customers automate their entire accounts payable and payment processes.

Ernst & Young has donated its historical archives dating back to the early 1900s to Case Western Reserve University.

Financial close software developer BlackLine Systems has received a round of investment led by Silver Lake Sumeru to help support the company's global growth strategy.

A federal court judge entered a final judgment against Conrad Black, the former chairman and CEO of the newspaper publishing company Hollinger International in a long-running fraud case.

The American Institute of CPAs has written to the heads of Congress’s main tax-writing committee expressing its opposition to a proposed limitation on the use of the cash method of accounting for partnerships, S corporations, personal service corporations and farmers.

A majority of large U.S. corporate pension plans were underfunded at the end of 2012, but Fitch Ratings said Thursday it believes funding levels at mid-year have improved with recent discount rate increases and strong equity market performance.