A path toward a long-sought congressional vote on a federal budget reconciliation bill appeared to open Wednesday as Sen. Joe Manchin, D-W.Va., endorsed fast-track legislation that would contain a variety of tax provisions.
Corporate tax executives are anticipating changes in government tax requirements over the next two years, but they feel less prepared to deal with them than they did last year, according to a new survey.
As negotiations continue on the fast-approaching reconciliation bill, the AICPA remains active in its advocacy efforts, which includes pushing back on the implementation of a minimum book income tax on corporations.
The Exposure Draft (ED), Maintaining the Relevance of the Uniform CPA Examination® - Aligning the Exam with the CPA Evolution Licensure Model, presents an informed and thoughtful proposal for the 2024 CPA Exam. Interested parties may comment on the ED by sending responses to firstname.lastname@example.org no later than September 30, 2022.
Since the Supreme Court decision in Wayfair vs. South Dakota four years ago, the sales tax arena has been filled with complexity and confusion. States acted quickly to take advantage of the opportunity afforded by the removal of physical presence test as a prerequisite for them to impose sales tax nexus.
A U.S. accounting firm is not prohibited by a White House executive order regarding U.S. sanctions against Russia from providing tax advisory and preparation services to the U.S. subsidiary of a Russian company in certain scenarios, according to guidance issued Thursday by Treasury's Office of Foreign Assets Control (OFAC).
The IRS's decision in 2021 to destroy about 30 million unprocessed tax information returns is "deeply concerning," the U.S. Senate Finance Committee's Republican senators wrote in a letter Thursday to IRS Commissioner Charles Rettig.
Congress gave billions of dollars in tax credits to employers in response to the COVID-19 pandemic that helped pay for providing paid sick and family leave and retaining employees, but now the IRS needs to step up its compliance efforts, according to a new report.
Governmental Accounting Standards Board chair Joel Black has been overseeing GASB for nearly two years as state and local governments deal with the continuing fallout from the pandemic while accounting for all the aid they received from the federal government.
The Supreme Court declined to review a New York-led constitutional challenge to the $10,000 cap on state and local tax deductions imposed by Congress in the 2017 tax law.
President Joe Biden's administration released its $6 trillion budget Monday for the federal government's 2023 fiscal year, which begins October 2022.
IRS Commissioner Charles Rettig told House members in a hearing Thursday that the Service will process its backlog of unprocessed work — some of it dating back to 2020 — by the end of 2022.
The Internal Revenue Service’s ambitious plans to hire 10,000 more employees over the next year are going to be difficult to attain as a new report reveals that the IRS met only 67% of its hiring goals for last year in a key area.
A bipartisan group of 100 lawmakers in the House and Senate wrote a letter to IRS Commissioner Charles Rettig asking him to provide further relief to taxpayers who have been receiving warning notices from the IRS this tax season.
IRS Commissioner Charles Rettig will report on the current tax filing season to the House Ways and Means Committee's Oversight Subcommittee next week, the subcommittee's chair, Bill Pascrell Jr., D-N.J., announced Thursday.
An omnibus spending bill released by congressional appropriators would reduce a budget increase for the Internal Revenue Service previously passed by the House by over half.
The SEC is proposing amendments to its rules that would enhance and standardize public company disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting.
Employment rose by 678,000 in February, the U.S. Bureau of Labor Statistics reported Friday, although the number of accounting and bookkeeping jobs declined by 800.
The Internal Revenue Service today announced that many Taxpayer Assistance Centers (TACs) will offer face-to-face Saturday help without an appointment from 9 a.m. to 4 p.m. on Saturday, March 12. Normally TACs are only open weekdays.
As part of a longer-term effort to improve taxpayer service, the IRS has officially established the first-ever Taxpayer Experience Office and will soon begin taking additional steps to expand the effort.