The National Association of Enrolled Agents is urging the Internal Revenue Service to use its increased funding to fix its Practitioner Priority Service, complaining in a letter to the acting head of the IRS that the service is "nearly nonexistent."
The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the appointment of nine new members to the Financial Accounting Standards Advisory Council (FASAC).
New research highlights the growing costs and broad ramifications of poor cybersecurity.
Like many CFOs, for many reasons, Paul Young, CPA, CGMA, prefers to fill senior roles with people already in the organization.
The PCAOB pushes for harsher enforcement while the SEC urges audit firms to "apply an appropriate fraud lens throughout the audit."
We are on the brink of an exciting new era for the IRS, one that is desperately needed to transform the agency to improve taxpayer service and ensure fairness in tax compliance.
Rather than clearing a backlog of tax returns by the end of next month as the outgoing commissioner promised earlier this year, the IRS is in danger of being in the same frustrating situation as it was at the end of 2021, the national taxpayer advocate said in a blog post Thursday.
CTNewsJunkie has a dynamic election results center.
The Nov. 8 general election in Connecticut includes the highest elected offices in the state from governor to the state’s House and Senate, and more. Also up for grabs is a U.S. Senate seat and all five seats for U.S. Congress.
The Internal Revenue Service is asking whistleblowers to report on fraudulent claims for the Employee Retention Credit, as so-called "ERC mills" continue to encourage applications for the tax credit from businesses that may not qualify for the pandemic relief program, which was available for 2020 and 2021.
The Internal Revenue Service today warned employers to be wary of third parties who are advising them to claim the Employee Retention Credit (ERC) when they may not qualify. Some third parties are taking improper positions related to taxpayer eligibility for and computation of the credit.
The shutdown begins on Saturday, November 26, 2022, at 11:59 p.m. Eastern time, in order to prepare the system for the upcoming Tax Year 2022 Filing Season.
Sen. Jack Reed of Rhode Island and two other Senate Democrats have filed legislation that would establish new SEC registration triggers for certain large private companies.
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).
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.
Compliance and consulting work related to COVID-19 relief created new business opportunities for CPA firms, which now can continue to grow by building on those opportunities, Inovautus Consulting LLC President and Founder Sarah Dobek said Thursday.
An expanded reporting section and detailed instructions for reporting virtual currency are among the changes in a revised version of Form 14457, Voluntary Disclosure Practice Preclearance Request and Application, the IRS released Tuesday.
As part of ongoing efforts to provide additional help for people during this period, the IRS announced today the suspension of more than a dozen additional letters, including the mailing of automated collection notices normally issued when a taxpayer owes additional tax, and the IRS has no record of a taxpayer filing a tax return.
The IRS announced Wednesday in a news release the letters and notices it will not send taxpayers as it works through its backlog of unprocessed prior-year returns.
The Internal Revenue Service has a brutal backlog of unfinished tax returns from last year, which has triggered more tax-time anxiety than one could imagine for many tax filers.