Finance

The Securities and Exchange Commission has appointed Mark Kronforst as chief accountant of its Division of Corporation Finance.

The Internal Revenue Service is putting the brakes on tax liens and levies during the federal government shutdown.

Legislation approved by the Senate earlier this year to require online businesses to collect sales taxes from out-of-state customers could have a unfair impact on businesses owned by minorities, women, veterans and other groups, according to a new study.

The Internal Revenue Service reminded taxpayers that the October 15 deadline remains in effect for people who requested a six-month extension to file their tax return.

The government shutdown now entering its second week does more than close museums and turn national parks into uninhabited forests: It also gums up workflow for many tax preparers and often leaves their clients with questions that are growing shriller.

Mortimer Caplin, who served as commissioner of the Internal Revenue Service in the Kennedy administration and the early months of the Johnson administration, sees problems ahead for taxpayers and practitioners from the government shutdown.

‘Obamacare’s’ opening day drew millions of consumers to the law’s core insurance exchanges, offering supporters and investors confidence that if the websites can stay up and running, customers will follow.

Thomson Reuters has released a new report on the Internal Revenue Service’s guidance on same-sex marriage in the wake of the Supreme Court striking down section three of the Defense of Marriage Act as unconstitutional.

http://www.accountingtoday.com/ato_issues/27_8/Time-to-abandon-fund-accounting-in-government-67588-1.html

The Securities and Exchange Commission charged a New Jersey-based audit firm and one of its founding partners Monday for their roles in the botched audits of a China-based company that failed to disclose related party transactions by its CEO and others.

With a political stalemate looming in Washington, the Treasury Department and the IRS released their contingency plan for what would happen at the service in the event of a government shutdown -- and one thing that wouldn't happen is any postponement of tax filing deadlines.

Much attention has been focused on the postponement of the Affordable Care Act’s employer mandate—the requirement that businesses with 50 or more employees provide them with health insurance or face significant fines, which the Obama Administration delayed for one year.

The Securities and Exchange Commission charged JPMorgan Chase & Co. Thursday with misstating financial results and lacking effective internal controls to detect and prevent its traders from fraudulently overvaluing investments to conceal hundreds of millions of dollars in trading losses.

Accountants don’t think their small-business clients are prepared for the Affordable Care Act, according to a recent survey.

In a new ruling, the Tax Court has held that accounts receivable constituted related party debt under Code section 965(b)(3), and therefore part of the deduction claimed by the taxpayer, BMC Software, Inc., was disallowed.

The Internal Revenue Service has completed work on 91 of 132 applications for tax-exempt status from politically oriented groups and approved 70 of them, the agency’s acting commissioner said.

Republican leaders of the House Judiciary Committee released a set of principles Wednesday for taxing Internet sales, offering the first tentative move toward compromising on legislation passed by the Senate earlier this year that has not yet advanced in the House.

The Internal Revenue Service’s estimate of the so-called “Tax Gap,” the difference between taxes owed and taxes paid voluntarily and on time, needs to be more accurate, reliable, comprehensive and timely, according to a new government report released to the public Monday by the Treasury Inspector General for Tax Administration.

The Internal Revenue Service is providing guidance on the application of the market reform provisions of the Affordable Care Act to health care arrangements such as health reimbursement arrangements, employer payment plans and flexible spending accounts.

As tax reform efforts resume in Washington this month, a new survey finds that over 70 percent of business tax professionals believe a detailed tax reform plan will begin to be worked on by the House Ways and Means Committee this year, and nearly 50 percent of the respondents think a tax reform plan will be put forward in the Senate.