The state's new law has made a confusing situation even murkier, as the ripples of Wayfair continue to linger in evolving tax law.

The International Accounting Standards Board is considering an update to IFRS for SMEs, its stripped down version of International Financial Reporting Standards for small and midsize entities, the second major update to the standards since it was introduced in 2009.

A bill stuck in Congress might help improve audit oversight.

The Internal Revenue Service is giving financial institutions a break when it comes to notifying owners of individual retirement accounts about taking their required minimum distributions after a new law increased the age for taking RMDs from 70½ to 72.

A drafting error in the Tax Cuts and Jobs Act inadvertently removed Qualified Improvement Property from bonus eligible property. This was a mistake and a technical correction was expected. However, none was ever made.

Global TaxUpdate, a Lisbon, Portugal-based global tax information provider, has introduced GTU OnDemand, an e-commerce service that provides access to an online store of translated tax legislation.

The Pentagon made $35 trillion in accounting adjustments last year alone — a total that’s larger than the entire U.S. economy and underscores the Defense Department’s continuing difficulty in balancing its books.

The American Institute of CPAs’ Financial Reporting Executive Committee has proposed several working drafts of its guidance on the long-duration insurance accounting standard for insurance companies.

A group of Senate Democrats has launched an investigation of the regulatory process for the Tax Cuts and Jobs Act and the ways in which exceptions were made for corporations as a result of fierce lobbying with the passage of the 2017 tax overhaul.

The Internal Revenue Service did a good job last tax season dealing with the many changes in the tax law, despite the 35-day government shutdown, but it still needs to improve its dealings with taxpayers who have limited proficiency with the English language, according to a new report.

Savings for the top six U.S. banks from President Donald Trump’s signature tax overhaul accelerated last year, now topping $32 billion as the lenders curbed new borrowing, pared jobs and ramped up payouts to shareholders.

Filing taxes last year was a nightmare for taxpayers, their accountants and the Internal Revenue Service. This year might not be much better.

The Internal Revenue Service and the Treasury Department are offering a safe harbor to provide relief to taxpayers who borrowed money to attend a nonprofit or for-profit school and had their student loan debts discharged.

The new credit losses accounting standard is not expected to have a major impact on the loan loss reserves of most large publicly listed U.S. banks, according to Moody’s Investors Service.

The Taxpayer First Act protects a broad range of disclosures about potential violations of IRS rules or tax fraud.

The White House continues to work on a tax-cut plan in hope that Republican lawmakers will be in control of Congress after the 2020 elections, President Donald Trump’s top economic aide Larry Kudlow said.

The move to the cloud is allowing users to make more of their data and of the many new intelligent tools that are out there.

New Jersey Governor Phil Murphy signed legislation Monday giving small businesses in the Garden State a workaround for the $10,000 cap on state and local tax deductions under the Tax Cuts and Jobs Act.

The institute has asked the IRS and the Treasury to issue a notice clarifying that relief will also apply to S corporations.

The controversy keeps mounting over a new tax break for investing in poor U.S. communities. But investors keep piling in.