Obamacare taxes torched in Senate bill, drawing Democratic ire

The long-awaited Obamacare replacement plan from Senate Republicans wouldn’t do much to preserve coverage for millions of poor and working-class people, but it would deliver tax cuts to the wealthiest Americans.


More ITINs to expire

The IRS is warning a new set of Individual Taxpayer ID Number holders to renew.


Tax Fraud Blotter: Copping a plea

Stolen names and SSNs; ‘substantial’ fees in a $1.1 million scheme; Canadian conspiracy; and other highlights of recent tax cases.


AccountantsWorld integrates with Ledgersync

AccountantsWorld has integrated its Accounting Power cloud-based software with Ledgersync, a company that provides feeds of banking information such as checks, bank statements and transactions that go automatically into accounting software.


Accountants want substantially more advisory revenue

Everywhere these days, news headlines scream that automation stands to eliminate many of the traditional jobs in the U.S.


Expense management software vendors combine to challenge Concur

Four expense management software vendors—Certify, Nexonia, ExpenseWatch and Tallie—are merging into one company, after an investment firm, K1 Investment Management, said it is investing $125 million in an effort to challenge SAP’s Concur for dominance of the market.


Employment-related identity theft much bigger than previously thought

The number of victims of employment-related identity theft is far larger than previously estimated and the Internal Revenue Service’s processes aren’t able to keep up, according to a new report.


CFOs don’t always qualify as finance leaders

Few CFOs give themselves high marks for effectiveness, and only a small proportion have the necessary traits to qualify as finance leaders, according to a new report.


FASB proposes changes to consolidation guidance

The Financial Accounting Standards Board has proposed an accounting standards update to reduce the cost and complexity of financial reporting related to the consolidation of variable interest entities, based on recommendations from FASB’s sister organization, the Private Company Council.


Senate health plan draft relies on subsidies GOP has faulted

Senate Republicans’ proposal to replace Obamacare would provide an additional $50 billion over four years to stabilize insurance exchanges, relying on a mechanism Republicans have criticized in the past as a way to keep insurers in the marketplace.