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The IRS has identified about $1 billion in potential savings from erroneous employee retention credit (ERC) claims, with over half of that money coming from enforcement efforts and the rest from the ERC voluntary disclosure program (VDP) and claim withdrawal process, officials said Friday.

The Internal Revenue Service has been making progress on catching up with its backlog of unprocessed tax returns, but more work needs to be done, according to a new report.

Experts suggest five tactics that can keep finance team members motivated, engaged, and performing well in their role.

If you're looking to hire in the financial services space, you can bank on one thing: The large majority of your competitors are offering candidates some form of a flexible work schedule.

All CT agencies must respond by March 25.

Americans made over 43,000 complaints to the FBI’s Internet Crime Center about potential cryptocurrency scams last year.

Dozens of film and production industry workers and leaders converged on the Legislative Office Building in Hartford Wednesday to voice their opposition to a bill that would eliminate Connecticut’s film production tax credit.

To counter promoters that marketed misleading information about the Employee Retention Credit (ERC), the Internal Revenue Service urged businesses to review seven suspicious signs of a bad claim and see if the agency’s special programs can help them avoid future compliance issues.

It's a great time to run an accounting firm — except for how hard it is.

There are many reasons why you may want to purchase an accounting firm. Perhaps you are looking to increase your geographic reach, expand into a new area of practice, or add quality staff. Regardless of the reason, this article can help you navigate the process and help reduce the risk when purchasing an accounting firm.

A pair of lawmakers proposed a bill Wednesday to end the abuse of grantor-retained annuity trusts to avoid taxes.

Danny Werfel understands that the IRS has a perception problem. The IRS commissioner said in a speech Monday at American University that the Service is "iconically unpopular," even playing a clip from The Simpsons to illustrate the point.

Boards of directors are more likely to push for GenAI implementation in areas outside finance, according to Deloitte.

The March 6 installment of the AICPA's monthly A&A Focus Series webcast updated members on critical accounting, auditing, and assurance issues.

The 886-page rule on climate-related disclosures adopted last week by the SEC doesn't make for light reading, but a resource published by the AICPA and the Center for Audit Quality (CAQ) sheds some light in 883 fewer pages.

Funding next year for higher education and social services depends on Gov. Ned Lamont’s answer to how much ARPA money remains.

Diversity, equity, and inclusion involves legal boundaries, culture, and ROI.

HarperWhitfield P.C., with offices in Farmington and Weatogue, announces the election of Todd Shelansky, CPA to Managing Principal; the streamlining of the firm’s name from Harper & Whitfield, P.C. to HarperWhitfield P.C., including a new firm logo; and personnel news regarding Dale Boutot, CPA joining the firm as a Director and the promotion of Agatha Hueller, CPA to Supervisor.

When many in the workforce daydream about retirement, the idyllic images that flood their minds sometimes get drowned out by fears of the unknown.

Finance chiefs and dealmaking teams should act quickly to stay competitive and ensure readiness for the merger guidelines changes.