The Internal Revenue Service has decided to stop automatically levying penalties when a taxpayer files a form reporting foreign gifts too late.

The resignation comes after Department of Justice launched a probe into an ex-employee's claims that Super Micro violated accounting rules.

The proposed ASU would set more consistent requirements for determining the acquirer when a transaction is achieved by exchanging equity interests.

The sofamaker agreed to pay $1.5 million to the SEC to settle allegations that two former executives devised a fraudulent accounting scheme to meet a key Wall Street metric.

Uncertainty around sunsetting provisions should have professional athletes planning ahead on their taxes.

The Internal Revenue Service set the credit at $1.25 to $1.75 per gallon of fuel with a minimum reduction of 50% of GHGs.

The Public Company Accounting Oversight Board imposed a $50,000 fine, revoked the firm's registration and barred its partner.

The Biden administration finalized rules for a 25% tax credit for semiconductor manufacturing projects, including solar wafers.

The IRS is reminding tax pros to register for or renew their professional ID number by Dec. 31.

The commission is focused on accounting errors the railroad had previously disclosed and certain non-financial performance metrics. 

The Supreme Court decision in Loper Bright has broad implications for the tax regulations written and administered by the Treasury and the IRS as well as the agencies tasked with the regulation of the alternatives industry.

The new regulatory environment has faced legal challenges, creating uncertainty for companies and auditors.

Whether someone incorporates their business now as the year comes to a close or waits until the new year can affect their company in various ways.

The Internal Revenue Service says it is processing some 400,000 claims for the Employee Retention Credit, representing about $10 billion of eligible claims.

The IRS and the Treasury proposed regs on the corporate alternative minimum tax on companies with over $1 billion in income, but those rules could impact much smaller companies as well.

The American Institute of CPAs sent a comment letter to the Treasury Department and the Internal Revenue Service objecting to guidance on basis-shifting involving partnerships and related parties.

If you don't report, you can't measure what was successful, and — equally as important — what wasn't.

Donald Trump vowed to boost the U.S. auto industry by making interest on car loans fully tax-deductible and renegotiating a trade deal with Mexico and Canada as he courts Michigan.

His pledge could simplify the tax obligations for U.S. citizens who live overseas.