Senators introduced several pieces of tax-related legislation this week, including measures aimed at improving customer service at the Internal Revenue Service, cracking down on tax evasion and curbing the carried interest tax break, in addition to efforts in the House to repeal the Corporate Transparency Act. Processing Content Senators Bill
The Internal Revenue Service rarely penalizes taxpayers who have high balances in foreign bank accounts and fail to file the proper forms, according to a new report. Processing Content The report, released Tuesday by the Treasury Inspector General for Tax Administration, examined Foreign Account Tax Compliance Act, also known as
Fraudsters have been active again this tax season, but the increasing power of artificial intelligence is helping supercharge the pervasiveness and danger of the tax scams being seen this year by researchers. Processing Content A recent study by David Maimon, head of fraud insights at the cybersecurity company SentiLink and
The accounting profession is changing faster than ever, and firm leaders are scrambling to keep up. When asked to identify the biggest issues they see facing the profession, senior executives from Accounting Today‘s 2026 Top 100 Firms named a wide range of issues. From private equity and remaining competitive, to
The accounting profession is changing faster than ever, and firm leaders are scrambling to keep up. When asked to identify the biggest issues they see facing the profession, senior executives from Accounting Today‘s 2026 Top 100 Firms named a wide range of issues. From private equity and remaining competitive, to
Courtesy of the Center for Audit Quality The Center for Audit Quality and Deloitte have released a new report on audit committee effectiveness and priorities. Processing Content The report draws on conversations with 27 audit committee chairs and members who participated in a survey last year for the 2025 Audit
Illicit income; fly like an eagle; subcontractor swindle; and other highlights of recent tax cases. Processing Content Denver: A restaurateur who ran eateries in two states pleaded guilty to defrauding the federal government out of millions of dollars and not paying hundreds of thousands more in taxes. Jared Leonard, 45,
Accounting firms have built up a whole arsenal of strategies to cope with the shortage of new talent, but staffing issues are still top of mind for firm leaders. Processing Content When asked to identify the biggest issues they see facing the accounting profession, senior executives from Accounting Today’s 2026
Over 1,000 Internal Revenue Service employees owe more than $8 million for not complying with the terms of a program that helps them repay their student loan debts, according to a new report. Processing Content The report, released Monday by the Treasury Inspector General for Tax Administration, examined the IRS’s
As artificial intelligence rapidly reshapes the finance landscape, accounting leaders face a pivotal moment. Processing Content The path forward is clear: Accounting functions must become AI-ready, moving beyond incremental automation to a future state where technology and talent work seamlessly together. For accounting, where the primary product is accurate, timely