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The Tax Court, in a recent summary opinion, ruled that an individual did not have cancellation of debt income in the year that a collection agency issued him a Form 1099-C and stopped its automated collection efforts.

The Internal Revenue Service mistakenly sent out letters to some electronic filing providers advising them that they needed to contact the IRS in order to continue to participate in the e-file program.

Grant Thornton CEO Stephen Chipman discusses major issues in accounting regulation and standard-setting.

CEO Stephen Chipman discusses the major issues facing the accounting profession.

Recent anniversaries, awards and more at accounting firms across the country.

Recent promotions, new hires and more at accounting firms across the country.

While most observers are reluctant to forecast any tax legislation prior to the November elections, there is legislation pending in Congress that, if enacted, would be a boon to small business and help jumpstart the economy.

Public Company Accounting Oversight Board Chairman James Doty discusses the need for regulating the audit profession internationally, including in China. He also discusses the concept release on mandatory audit firm rotation, and why even the new category of emerging growth companies in the JOBS Act should be subject to audits. He was interviewed at the PCAOB offices by AccountingToday.com editor-in-chief Michael Cohn after the AICPA's Spring Meeting of Council in Washington, D.C.

The price of a company’s stock frequently drops after it makes an acquisition, but a new study finds that the stock decline could also be a signal that a financial restatement lies ahead.

The Institute of Management Accountants has thrown its support behind the Financial Accounting Foundation’s plan to establish a Private Company Council to improve the process of setting accounting standards for private companies.

The Professional Accountants in Business Committee of the International Federation of Accountants has proposed guidance to help accountants improve their business reporting processes.

A pair of influential senators are looking into the activities of a tax-exempt charity for disabled veterans after questions were raised about whether the group is actually spending the millions of dollars it has collected to help disabled veterans.

The Senate Judiciary Committee has approved bipartisan legislation that would modify the Chapter 11 bankruptcy process to help small companies remain in business and preserve jobs.

Cloud-based sales tax automation service provider Avalara has linked its geolocation sales tax engine with Intuit’s GoPayment mobile payment application.

Online invoicing, time tracking and billing vendor FreshBooks.com has added the ability to upload and attach receipts in all file formats to its billing system.

Sage North America has launched an administrative portal for its Sage Exchange payments service.

A bipartisan group of lawmakers has introduced a Senate bill to spark the creation of startup businesses, with tax breaks and visa opportunities for foreign students, foreign-born entrepreneurs and immigrant employees.

With tax season finally over, you can see the light.

Financial Accounting Foundation president and CEO Terri Polley explained to Accounting Today some of the thinking behind the new Private Company Council that the FAF Board of Trustees voted to create on Wednesday.

The American Institute of CPAs has agreed to lend its support to the new Private Company Council established by the Financial Accounting Foundation after opposing an earlier version proposed by the FAF last year.