The Latest

Sixty-four percent of small business owners do not believe tax increases should be part of the federal government’s plan to reduce the deficit, according to a new survey.

The Senate Subcommittee on Contracting Oversight held a hearing to examine the diversion of federal contracts for small businesses to large companies.

IMGCAP(1)]The use of third-party practice aids and audit programs has become widespread as an economical and effective means of keeping audit materials up to date and comprehensive. However, some auditors have become too checklist oriented, driven in part by these standardized audit materials. Use of these types of materials creates risks that auditors may get lost in the completion of the checklist and lose sight of what they should be doing, which is assessing and responding to audit risk.

The Internal Revenue Service said that some travelers may be entitled to refunds on the ticket taxes that airlines have been charging after Congress failed to pass a reauthorization bill last Friday for the Federal Aviation Administration.

The Internal Revenue Service is reorganizing several of its units concerned with international tax compliance and transfer pricing to bolster its enforcement efforts.

The Financial Accounting Standards Board has beefed up its standards for multiple-employer pension plans, requiring employers to provide more information about their pension plan obligations, particularly for unionized employees.

MNP, one of the largest Chartered Accounting firms in Canada said it would merge in Calgary-based Rahal Warren & Chugh, effective September 1.

The House Ways and Means Committee held a hearing to weigh the pros and cons of two different consumption tax models: the value-added tax and the FairTax.

Too many CPAs begin the day reading through their email inbox. No doubt, reputations depend on near instantaneous client service. But let's face it—if the only value you're providing for your client is rapid response, you'll eventually be replaced by someone in Mumbai, Shenzhen or some other time zone who can respond even faster.

A pair of Democratic senators has written to the head of Delta Airlines and the Air Transport Association telling him that airlines should not be raising their fares to make money off the temporary expiration of ticket taxes.