Size doesn’t matter to hackers

A small accounting firm is just as much of a target as a Fortune 500 company, says white-hat hacker David Kennedy.


Illinois CPA Society honors first African-American female CPA

The Illinois CPA Society and the city of Chicago are marking the 75th anniversary of when the first African-American woman became a CPA in the U.S.


Industry groups urge fixes for errors in Tax Cuts and Jobs Act

A broad coalition of hundreds of industry associations and companies sent a letter Wednesday to Treasury Secretary Steven Mnuchin urging him to resolve errors in last year’s tax code overhaul related to depreciation rules and net operating loss carrybacks.


IRS plans new tax transcript format with better security

The Internal Revenue Service said Wednesday it will provide a new format for transcripts of individual tax returns that will safeguard taxpayer data by redacting personally identifiable information from Form 1040 series returns.


St. Mary's University receives $1M gift for accounting scholarships

The San Antonio school received an anonymous donation that will go toward helping undergraduate accounting students in need of financial aid.


Enforcement actions against accountants declined last year

The Securities and Exchange Commission and the Public Company Accounting Oversight Board finalized slightly fewer enforcement actions against accountants in 2017, slipping from 79 in 2016 to 75 last year, according to a new report.


IRS offers initial guidance on executive compensation rules after TCJA

The Internal Revenue Service provided initial guidance Tuesday on how to deal with the rule changes surrounding the executive compensation deduction after passage of the Tax Cuts and Jobs Act last year.


IRS allows student loan repayments to be linked to 401(k)

The Internal Revenue Service has issued a private letter ruling allowing an unnamed employer to make 401(k) contributions on behalf of employees who are repaying their student loans.


IRS wants comments on unrelated business income taxes

The Internal Revenue Service has issued a notice soliciting comments on how to apply a new section of the tax code that was added by the Tax Cuts and Jobs Act pertaining to the unrelated business income taxes for otherwise tax-exempt organizations.


Paul Manafort convicted at tax fraud trial in setback for Trump

A federal jury convicted Paul Manafort, President Donald Trump’s former campaign chairman, at his fraud trial, handing a crucial victory to Special Counsel Robert Mueller.