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Nearly three quarters of nonprofit organizations are concerned that tax exemptions will be revoked in the next year or two, according to a new survey.

Before 2007, any part of a mortgage forgiven after a foreclosure, such as when the house was sold and the bank forgave a mortgage exceeding the home’s sale price, was considered taxable income, but that has changed now.

With the tax deadline quickly approaching, businesses are reviewing their bookkeeping to find possible deductions, including some valuable ways to write off expenses.

Check out the digital edition of the February issue of Accounting Today.

Deloitte announced a 10-year sponsorship with the Canada Games yesterday that will encompass thousands of athletes and spectators in five Canadian cities and began this month with the Halifax 2011 Canada Games.

The Internal Revenue Service has requested that private sector transmitters of e-filed returns stagger their submission of returns over the course of this week, according to one industry group.

Lending to small firms by U.S. financial institutions continued to decline, but began to stabilize in some loan size categories over the 2009-2010 period, according to a new study by the Small Business Administration.

A watchdog group is calling on the Office of Congressional Ethics to investigate whether members of Congress who sleep in their offices are violating House ethics rules and tax laws by failing to report lodging as a taxable fringe benefit.

Half of Baby Boomer clients who have postponed retirement due to the economic downturn expect to work at least four years longer than they originally planned, according to a new survey of CPA financial planners.

The unveiling of the Obama administration’s budget this week appeared to be only the opening act for what promises to be a long-running series of episodes involving spending, taxes, and cuts to favored and not-so-favored programs.