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A limited liability company has become the entity of choice for many businesses throughout the United States for tax and liability purposes, but many of the operating agreements governing LLCs could have significant defects.

More accountants like to solve problems than crunch numbers, according to a new survey.

A House subcommittee held a hearing Wednesday on the estate tax after one of its members introduced legislation to repeal it.

The Republican leaders of Congress’s two main tax committees, House Ways and Means Committee chairman Paul Ryan, R-Wis., and Senate Finance Committee chairman Orin Hatch, R-Utah, have written a letter to Treasury Secretary Jacob Lew urging him to avoid pursuing an executive action by President Obama on tax reform.

The Internal Revenue Service is canceling the two days of unpaid employee furloughs it had planned in response to budget cuts.

Hank Wolfson has been named chief operating officer, a new position at Gray, Gray & Gray. Wolfson will assume internal administrative duties for the rapidly growing accounting and business advisory firm.

Sandy McGee has joined Vrakas/Blum, S.C. chief operating officer. McGee will run the business side of the firm and will undertake all facets of financial management, human resources, marketing, technology and information systems, general administration and facility and operations management.

Armanino released a Forecast Management solution for Microsoft Dynamics CRM, also compatible with all CRM solutions, enabling sales and operations executives to develop detailed sales forecasts.

Wake Forest University School of Business announced on Monday that they will hold an informative lecture on March 24, according to the Winston-Salem Journal. The lecture will be focused on the challenges of creating global accounting standards.

The European Union launched a new salvo in its battle against tax evasion with a slate of proposals that would make it harder for companies to avoid taxes.

The owner of a New Jersey tax prep business was sentenced to six months in prison followed by six months of home confinement for willfully preparing false tax returns for clients.

The American Institute of CPAs sent top tax lawmakers on Capitol Hill a package of 34 legislative proposals Tuesday that the AICPA believes promote simplicity and fairness in the tax code.

Companies often turn to their accountants when they need to cut expenses, and a good place to start is with the travel budget.

Brands and corporate logos, from Coca-Cola and IBM to sports franchises, must periodically go through brand refreshes and upgrades to stay relevant.

Taxpayers are willing to go through more steps when preparing their tax returns, such as confirming their identifications and proving additional documentation, if it can help combat tax fraud and identity theft, according to a new survey.

The Internal Revenue Service and the Free File Alliance have reached a new five-year agreement to continue providing free tax preparation software for 70 percent of tax filers.

The CPA Consultants’ Alliance has approved a slate of new officers following CPACA’s annual meeting in Tampa, Fla., and issued a new report on the most pressing issues for 2015 for CPA consultants.

Internal audit is extending its traditional role as an assurance provider into playing a more proactive role as trusted advisor, according to a new report by PricewaterhouseCoopers.

A Kalamazoo, Mich., tax preparer who billed herself as the “#1 Tax Lady” has been indicted on multiple counts of tax fraud.

AICPA vice president of taxation Edward Karl stated, “Taxpayers will be in one of three situations – they will have had health insurance that met the requirements for minimum essential coverage under the Affordable Care Act, will have qualified for an exemption or will owe the penalty for not having qualified health insurance. In order to meet the information reporting requirements, taxpayers will have to gather new records and become familiar with new forms, instructions and terms.”