The Supreme Court recently heard oral arguments in a case revolving around whether a county in Michigan violated the constitutional rights of a homeowner whose property was foreclosed on and sold for far more than he owed in taxes, but far less than it was probably worth. Processing Content The
The Internal Revenue Service confirmed Friday that Treasury Secretary Scott Bessent’s term as acting IRS commissioner has expired, although he will continue to oversee the IRS as part of his duties running the Treasury Department. Processing Content Bessent became acting commissioner of the IRS after the departure last August of
The Internal Revenue Service changed the submission process earlier this week for groups that intend to operate as 501(c)(4) tax-exempt organizations, requiring them to submit their forms electronically through Pay.gov, a move that could have political ramifications ahead of the midterm elections. Processing Content Starting March 9, 2026, Form 8976,
A change made by the Internal Revenue Service in its instructions for claiming the new tax deduction for tips is making it more difficult for self-employed and gig economy workers to claim, and may require their tax preparers to submit amended or superseding tax returns. Processing Content The IRS issued
Audit and GRC solutions provider AuditBoard now styles itself as Optro, a name change meant to reflect a single, coherent view across audit, risk, information security and compliance. The announcement took place Monday at the Institute of Internal Auditors’ Great Audit Minds conference in Las Vegas. Processing Content “Today, AuditBoard becomes
Top 50 Firm Schellman received a minority investment from Private Equity at Goldman Sachs Alternatives, expected to close at the end of Q2 2026. Processing Content The announcement marks another flip among the first cohort of accounting firms that took private equity investment. In 2021, Lightyear Capital took a majority
As New York City Mayor Zohran Mamdani’s tax-the-rich plans spark backlash among New York’s wealthy, at least one cohort of millionaires is fully supportive of his policies. Processing Content The members of the “Patriotic Millionaires” group — who include a Disney heiress, an owner of Manhattan’s Flatiron Building and a
The finance function is at an important crossroads, with tradition and innovation colliding as the era of artificial intelligence introduces new opportunities to innovate, evolve and transform. Processing Content While many finance teams still use traditional approaches to advise their organizations on finance strategy, recent research shows that a shift is happening: 63%
Prime Meridian, a tax solutions provider, officially launched today with a free tax filing solution supported by former IRS Commissioner Danny Werfel, who is serving as a strategic advisor for the new company. Processing Content “Americans should have access to a free, easy-to-use platform that guides them through filing their
Overall, institutional investors continue to place strong trust in public company audits as an essential check on the financial statements issued by companies, but auditor independence remains a focus for them, according to a new survey. Processing Content The survey, released Wednesday by the Center for Audit Quality, found that