U.S. consumer confidence rises to 17-year high on tax cuts and jobs

U.S. consumer confidence jumped to a 17-year high as optimism about employment prospects grew and Americans began seeing additional money in their paychecks from recently enacted tax cuts, data from the New York-based Conference Board showed Tuesday.


Israel puts church policy on hold after Holy Sepulchre tax uproar

Israel put proposed taxes on church-owned property in Jerusalem on hold after top Christian clerics in the city closed the venerated Church of the Holy Sepulchre to protest the planned levies.


HP-Autonomy fraud trial is spun for jury as $9B whodunit

To prosecutors, Hewlett-Packard Co.’s purchase of Autonomy Corp. was akin to buying a Pinto dressed up as a Cadillac.


Noble Group holder attacks ‘shocking’ loss as dispute flares

One of Noble Group Ltd.’s largest shareholders has stepped up criticism of the embattled commodity trader, describing losses as “shocking” and warning the billions in red ink will pile more pressure on investors to agree to a controversial debt-for-equity rescue plan that it opposes.


Grants Management Systems updates accounting software for nonprofits

The new release features a new user interface, and easier navigation for reports.


IRS starts giving tax refunds to taxpayers claiming EITC and ACTC

The Internal Revenue Service is beginning to release tax refunds for taxpayers who claim the Earned Income Tax Credit or the Additional Child Tax Credit after subjecting their tax returns to some extra scrutiny.


Unsolved mysteries of pass-through taxation

Tax professionals are looking to the IRS for guidance on the new Section 199A.


States’ latest weapon in the struggle for revenue: gross receipts taxes

GRTs are being considered across the country as an improvement on state corporate income taxes — but they come with serious issues.


Surviving and thriving in an evolving marketplace

The accounting profession is undergoing seismic changes. How can a firm thrive in such an uncertain environment?


Study supports shorter auditor tenure

Efforts in the U.S. and Europe to encourage public companies to change audit firms have largely failed, according to new academic research.