Goldman Sachs Group Inc. said the U.S. tax reform will cut profit this year by about $5 billion, mainly because of a tax targeting earnings held abroad.

The Treasury Inspector General for Tax Administration cautioned taxpayers to stay on “high alert” next tax season so they don’t fall prey to criminals who pretend to be employees of the Internal Revenue Service and the Treasury Department.

President Trump boasted about his tax knowledge during an impromptu interview with The New York Times in which he claimed to know taxes “better than the greatest CPA.”

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The Internal Revenue Service has issued a revenue ruling clarifying the tax treatment of a package of films on a TV channel in terms of the domestic production activities deduction.

The Internal Revenue Service said it is working on developing withholding guidance to implement the tax reform bill signed into law on December 22.

Southern California accounting firm White, Zuckerman, Warsavsky, Luna & Hunt has filed documents in court against Mel Gibson’s former girlfriend, Oksana Grigorieva, seeking payment on an unpaid bill of $108,887 for forensic accounting services after the firm helped her win an increase in child support payments from the actor-director.

But many 2018 taxes have already been levied, experts say.

New partners in Indiana; up-and-comers in Connecticut; and other news from across the profession.

The board’s staff are offering additional information on determining auditor tenure.