The Latest

House Oversight Committee Chairman Darrell Issa sent a subpoena for Internal Revenue Service documents to the Treasury Secretary, saying he thinks the agency’s chief counsel’s office is “compromised.”

The U.S. tax systems for individuals and corporations should be revamped together, said the top Republican tax writer in Congress, resisting President Barack Obama’s call for a business-only approach.

Total nonfarm payroll employment increased by 162,000 in July, the Bureau of Labor Statistics reported Friday, sending the unemployment rate down by two-tenths of a percentage point to 7.4 percent, although many of the gains were in low-wage jobs.

Xero signed an integration deal with ConnectWise, a developer of service management software designed exclusively for IT service providers, VARs, ISVs and MSPs, in order to synchronize accounting data between ConnectWise and Xero.

BigTime Software Inc. has released a mobile app designed for small and mid-sized professional services firms to access project management capabilities in addition to time and expense tracking.

WTAS has merged with Houston based E.M. Bossin & Co. Texas has been a primary part of WTAS’ growth strategy.

CliftonLarsonAllen has acquired the national health care consulting firm Beck Advisory Group.

Financial Accounting Standards Board chairman Russell Golden discusses his priorities as FASB's new chairman, the upcoming leasing standards, how it is working with the new Private Company Council and the International Accounting Standards Board's Accounting Standards Advisory Forum, and his plans for improving the U.S. GAAP Codification, in an interview with Accounting Today editor-in-chief Daniel Hood.

Tax reform talk is heating up. Support is growing for bipartisan efforts to rewrite the tax code, with committee chairmen and ranking members in both the House and the Senate jumping aboard the effort.

A bipartisan group of senators have introduced legislation to combat acts of tax evasion, money laundering, terrorism and other wrongdoing facilitated by U.S. corporations with hidden owners.