Organization Root Tag

The Financial Accounting Standards Board said Tuesday the Securities and Exchange Commission has accepted the latest updates to the GAAP Taxonomy for filing financial statements with the SEC.

A group of House Democrats is sounding the alarm about delays in Economic Impact Payments going out to beneficiaries of safety net programs.

When everybody wants returns; future CPAs; the lure of Tinseltown; and other highlights from our favorite tax bloggers.

Yet another IRS change to tax rules amid the COVID pandemic is complicating tax-planning opportunities for financial advisors this filing season.

An Ernst & Young partner said his firm fell victim to “criminals,” rejecting allegations EY didn’t do enough to uncover wrongdoing at the now-defunct payment processor.

Most of the insurers that provided the company with director-liability policies have agreed to pay as much as $93 million toward settlements resulting from a 2017 accounting crisis.

The National Conference of CPA Practitioners is asking the IRS to postpone the tax deadline from May 17 until June 15 and to make it apply to quarterly estimated payments.

More than 20 percent of the wealthiest Americans’ income isn’t being reported to the Internal Revenue Service, according to a new study that calculates U.S. tax evasion is far higher than previously estimated.

The move is aimed at helping pave the way for a potential international standard-setter for ESG accounting.

Prominent accounting organizations released statements condemning violence against Asian-Americans following Atlanta shootings.

The COVID-19 pandemic could give remote employees around-the-clock access to company funds with little supervision and lead to embezzlement.

Fewer than two out of every 100 taxpayers reporting over $1 million in income were audited by the Internal Revenue Service in fiscal year 2020, according to a new report.

Brown Schultz Sheridan & Fritz announces two annual initiatives for minority students; and Test Prep Insight opens its $1,000 student scholarship.

Xero will become BDO’s preferred accounting solution for its business, services and outsourcing clients in the small to medium business space.

Citrin Cooperman co-founder Niles Citrin announces retirement; BKD names regional managing partner; and more CPA news.

The Biden administration said in a response to concerns raised by Republicans that state governments accepting pandemic-relief money from Washington are allowed to cut taxes, but only if they don’t use the federal aid to offset those reductions.

The IRS will automatically process refunds for individuals who paid taxes on their unemployment benefits before Congress passed a law making those payments tax-free, Commissioner Chuck Rettig said.

The Office of Chief Counsel is expanding its Virtual Settlement Days.

The "Accounting Program Curriculum Gap Analysis Report," from the American Institute of CPAs and the National Association of State Boards of Accountancy, found that college programs must focus more extensively on areas such as predictive analytics and cybersecurity ahead of the 2024 CPA Exam.

The Internal Revenue Service’s delay of the April 15 tax-filing deadline to May 17 gives taxpayers an additional month to file returns and pay any outstanding levies.