The Latest

Eighty-three percent of companies have experienced an increased number of audits due to state and local tax revenue shortfalls, according to a new survey.

Volunteers who prepare tax returns for free through the IRS’s Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs prepared nearly half the returns inaccurately, according to a new report.

Any high school students out there intrigued by accounting need an iPod? The American Institute of CPAs wants to help you get one – and draw you into the profession at the same time.

Challenging the institute membership to rally behind such profession-centric issues as International Financial Reporting Standards, sustainability and reform, Robert Harris, the 2009-2010 chair of the AICPA, told attendees at the organization’s fall meeting of council here that they “must set a course around, and sometimes through, uncharted waters,” amidst a current of economic and regulatory uncertainty.

The First-Time Homebuyer Tax Credit program may have helped boost the sagging housing market this year, but it also seems to have encouraged a lot of fraudulent activity.

It shouldn’t come as a surprise that Danielle Chiesi, the New Castle Funds portfolio manager who has been accused of digging up insider information in the massive insider trading scandal at Galleon Management, had a tax lien placed on her by the IRS for $63,226.

Despite the uncertain market conditions and negative headlines of the past year, most Americans who participate in employer-sponsored defined contribution plans continue to support them, according to a new survey.

International Accounting Standards Board chairman Sir David Tweedie said he won’t wait for the board’s U.S. counterpart to finalize its own revisions to fair value accounting for financial instruments.

CCH has introduced IRC/Multistate Personal and Corporate Income Tax Comparison Smart Charts on its CCH IntelliConnect Research Service.

XCM Solutions has released XCM Version 7.0, the newest iteration of its workflow management software, with customized checklist and sign-off capability.