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The Internal Revenue Service does not always recognize and properly investigate signs of tax fraud, according to a new report, foregoing at least millions of dollars in potential fraud penalties.

The Internal Revenue Service granted a three-month tax filing and payment extension to Boston-area taxpayers and others affected by Monday’s explosions at the Boston Marathon.

The promise of integrated reporting that combines financial reporting with a host of other factors, including sustainability, governance and community involvement, finally appears to be on the horizon.

The Internal Revenue Service is struggling to respond to an onslaught of tax returns filed on April 15, which is delaying acknowledgements to both federal and state returns.

Lisa Benson has taken on the role of chief operations officer at The Advisory Board – an organization of consultants to the accounting profession.

The Tax & Accounting business of Thomson Reuters has acquired select assets of the TaxWorks software line from RedGear Technologies, the customers of which will be transitioned to UltraTax CS—part of the CS Professional Suite.

The Senate Finance Committee held a hearing Tuesday on moving forward with solutions to tax fraud and tax identity theft as they grappled with an expanding problem that has plagued recent tax seasons.

Helen Brand, chief executive of the Association of Chartered Certified Accountants, discusses how ACCA is working with the International Integrated Reporting Council on integrating sustainability and governance reporting with financial reporting by accountants.

Non-profit financial reporting and accounting software maker AccuFund Inc. named six firms to receive its Partner Leadership Award for sales and marketing success in 2012.

A pair of Congressmen have introduced legislation that would allow the Internal Revenue Service to provide taxpayers with a tax form already containing information received from employers and banks to streamline the tax prep process.

A former Internal Revenue Service agent-turned-tax preparer has been sentenced to nearly 24 years in prison for defrauding his tax clients out of more than $11 million and then hiring a hit man to kill them to prevent them from testifying about the theft.

Cloud-based accounts receivable platform maker TermSync has released TermSync Scorecard, an interactive dashboard designed for financial executives to take a deeper look into the accounts receivables department.

The International Integrated Reporting Council has issued a consultation draft of its International Integrated Reporting Framework, which aims to create the foundations for a new reporting model that will enable a business to provide a concise communication of how it creates value over time.

Since the Tax Reform Act of 1986 few closely held businesses have been structured as C corporations.

The state tax sites of Colorado, Illinois, Pennsylvania, Utah and Virginia are the easiest for taxpayers to use in terms of transparency, according to evaluations by the Tax Foundation.

Small businesses are more likely to comply with the tax laws if they are in certain comunities of the country and if they have more trust in their tax preparer, according to a report by the Taxpayer Advocate Service.

The Financial Accounting Standards Board and the Private Company Council have released an invitation to comment on their proposed decision-making framework for determining when exceptions to accounting standards should be made for privately held companies.

The Internal Revenue Service said Monday that it would provide tax penalty relief to anyone unable to file on time due to severe storms in parts of the South and Midwest over the past few days.

Rep. Lloyd Doggett, D-Texas, introduced legislation on tax deadline day to close offshore tax loopholes for corporations and encourage greater financial transparency.

Alternative Technology Solutions Inc. has issued a formal response regarding the copyright infringement lawsuit Epicor filed against Alternative last month as well as a counterclaim, both of which deny any wrongdoing on the part of the firm.