The Latest

The Internal Revenue Service is cautioning tax preparers about delays in processing tax returns claiming the Child Tax Credit because of incorrectly filled out forms.

A pair of influential Senate Democrats have introduced legislation aimed at stopping multinational corporations from taking advantage of tax havens abroad.

Seven in 10 business owners in the United States expect to exit their company in the next 10 years, according to research from SellabilityScore.com. When we asked business owners who they would turn to for advice on selling, 64 percent said they would seek the advice of their accountant, thus ranking the CPA as the most trusted professional among all of the advisor categories we measured.

Kayla J. Gillan, a former deputy chief of staff at the Securities and Exchange Commission and founding member of the Public Company Accounting Oversight Board, has been tapped to lead PricewaterhouseCoopers’ new Investors’ Resource Institute.

Patricia Cornwell, a best-selling crime novelist, testified before a jury about her lawsuit against her former accounting firm and financial manager, accusing them of allowing her to lose a sizeable chunk of her fortune.

Elmer Kilian, one of the three tax preparers who won a lawsuit last month challenging the Internal Revenue Service’s authority to require testing and continuing education of tax preparers, thinks the chances are better than even that he and his fellow preparers will prevail if the IRS appeals the case.

Pacion Ajder PC has merged into the Northbrook, Ill.-based practice of Lipschultz Levin & Gray LLC. Terms of the deal were undisclosed.

Gofrank & Mattina PC has merged with the Lapeer, Mich.-based accounting firm Brown & Kent PC. The combined firm now has a total of 29 employees, including 19 CPAs.

The Seventh Circuit Court of Appeals has affirmed the dismissal of a class action that sought damages by class members as a result of the 2008 UBS tax evasion scandal.

A colleague recently asked me if I had ever been “catfished” on social media.