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The Internal Revenue Service is cautioning taxpayers and tax practitioners against the newest scams as losses top $20 million in money stolen from victims by fraudsters claiming to work for the IRS and other government agencies, including the Department of Motor Vehicles.

The Securities and Exchange Commission announced charges Thursday alleging that Miller Energy Resources Inc., its former chief financial officer, and its current chief operating officer inflated values of oil and gas properties, resulting in fraudulent financial reports for the Tennessee-based company.

The management of the IRS was “delinquent” in its treatment of Tea Party groups seeking nonprofit status and the agency’s poorly planned efforts to address the issue “ended in predictable failure,” according to a U.S. Senate report released on Wednesday.

The last of Bernard Madoff’s employees to be sentenced in the largest Ponzi scheme in U.S. history was ordered to serve six months in prison after pleading for mercy because of his failing health.

Former Internal Revenue Service commissioner Mark Everson has filed a complaint with the Federal Election Commission objecting to being left out entirely of Fox News’s Republican presidential debate.

Leaders of the Senate Finance Committee have released a bipartisan investigative report on the scandal involving the extra scrutiny the Internal Revenue Service’s gave to applications for tax-exempt status from political groups, finding evidence of mismanagement at the agency.

The Securities and Exchange Commission has adopted a final rule requiring public companies to disclose the ratio of the compensation of their CEOs to the median compensation of their employees.

Serving nonprofit clients requires a distinct skillset from CPAs and auditors.

The global economy is facing a period of volatility and major readjustments, according to a new survey of accountants around the world from the Association of Chartered Certified Accountants and the Institute of Management Accountants.

Small businesses experienced a slowdown in employment growth in July, compared to previous months, according to Intuit, although employees were paid slightly more and worked additional hours.

If residents of a state change domicile to another state and earn income in the new state, are they off the hook for state income tax in the state where they no longer reside?

Mayer Hoffman McCann has elected Andrew Burczyk as president. Burczyk succeeds Bill Hancock, has served as president since 2002 and has 40 years of experience with the firm. Hancock, who is the CEO of the firm, will remain on board as chairman of the firm’s board of directors.

Check out the digital edition of the August 2015 issue of Accounting Today.

Damien Greathead of Receipt Bank talks about how accountants can use technology to spend more time with clients, in an interview with Accounting Technology editor-in-chief Danielle Lee.

Private sector employers added 185,000 jobs last month, according to payroll giant ADP, indicating some slackening in job growth, particularly in the manufacturing and energy industries.

A bipartisan U.S. Senate bill that would revive and extend dozens of lapsed tax breaks would spur economic growth and cover about 11 percent of its own costs, according to Congress’s nonpartisan scorekeeper.

Wipfli announced its technology consulting practice has joined the NetSuite Solution Provider Program.

Nonprofit organizations make accounting errors at a relatively high rate, in part because they try to avoid devoting a high percentage of their funding to administrative costs, according to a new study.

Word that the U.S. Marine Corps had passed an audit of its books was such a cause for celebration that a ceremony was staged last year in a Pentagon hall usually reserved to honor battlefield bravery.

If the beneficiary of a deceased owner of an individual retirement account fails to comply with the post-death required minimum distribution rules and the other post-death IRA distribution rules, then the beneficiary can be subject to penalties from the Internal Revenue Service.