Tax overhaul seen spurring more acrimonious divorce negotiations

President Donald Trump’s tax law could make divorce an even more miserable experience, according to a new survey of the nation’s top matrimonial attorneys.


Big banks got huge tax cuts, then hiked cities’ interest rates

As U.S. banks were tallying up the billions of dollars in extra profits they’ll reap from the sweeping tax cuts signed into law by President Donald Trump, they were quietly delivering unwelcome news to local governments: The interest rates on their loans were about to go up.


Bloomberg Tax debuts Advantage corporate tax software

Bloomberg Tax released a new line of corporate tax software Wednesday known as Advantage, providing technology for handling fixed assets, federal and state tax, net operating losses, provision analysis, and sales and use tax rates.


FASB updates accounting for stranded income taxes under the Tax Cuts and Jobs Act

The Financial Accounting Standards Board released an accounting standards update Wednesday to help companies deal with the stranded income tax effects in accumulated other comprehensive income stemming from the Tax Cuts and Jobs Act.


Avoid common R&D expense documentation errors

Business owners are often surprised to learn they may be able to claim the research & development tax credit.


FASB plans accounting changes in reaction to Tax Cuts and Jobs Act

The Financial Accounting Standards Board is moving forward with a proposed accounting standards update to reclassify the stranded tax effects from the Tax Cuts and Jobs Act of 2017, although at least one investor group has some concerns.


Revenue recognition: 3 areas of focus for 2018

With 2018 upon us and the extraordinary effort we’ve put in to get us past the public company deadline for the new revenue recognition standards, I’d like to highlight three longer-term considerations for companies to keep in mind as they continue to report and operate under the new rules.


Deadline approaching for designating Qualified Opportunity Zones

There’s a provision in the Tax Cuts and Jobs Act that is just now beginning to garner awareness among state governments and investors.


IRS warns of new scam involving erroneous tax refunds

The Internal Revenue Service warned taxpayers Tuesday to beware of a quickly proliferating scam involving erroneous tax refunds being deposited in their bank accounts, after a data breach on their tax preparers’ computers gives them access to sensitive client information.


IRS modifies procedures for changing accounting periods of foreign corporations

The Internal Revenue Service and the Treasury Department announced changes Tuesday in the procedures for changing the accounting period of foreign corporations owned by U.S. shareholders subject to the transition tax under the Tax Cuts and Jobs Act.