IRS urged to improve oversight of cybersecurity at tax preparers and software vendors

The Internal Revenue Service needs to improve its oversight of third-party cybersecurity practices by tax preparers and tax software providers, according to a new government report.


Congress examines the tax gap and taxpayer noncompliance

The House Ways and Means Committee held a hearing Thursday to examine what’s behind the estimated gap of approximately $460 billion between taxes owed and actually paid.


How do you create significant firm value?

Once your firm is valuable, should you sell or stay independent?


Wolters Kluwer Tax & Accounting updates concerned customers on breach

Security experts say the company is responding prudently.


Steinhoff casts doubt on future as writedowns hit $17B

The global retailer at the center of South Africa’s biggest corporate scandal cut the value of its assets because of accounting irregularities.


Enron-era accounting rules could be eased for small companies

The SEC proposed to free small companies from a Sarbanes-Oxley Act requirement that an auditor sign-off on their internal controls over financial reporting.


Democrat Klobuchar says she’d preserve parts of Trump’s tax law

The Democratic presidential candidate doesn’t want to fully repeal the new tax law, breaking with rival and fellow Senator Kamala Harris.


Trump’s ‘abnormal’ interest income two decades ago came tax-free

President Donald Trump earned a large amount of interest income two decades ago that was used in tandem with then-burgeoning losses to help him avoid paying federal taxes, according to newly published tax details.


Some tax-exempt organizations must file by May 15

Certain tax-exempt organizations must file 990-series returns by Wednesday, May 15, the deadline for organizations operating on a calendar year.


IRS adjusts maximum value of employer-provided vehicles for inflation

The Internal Revenue Service has issued a notice setting the inflation-adjusted maximum value of a vehicle provided by an employer to an employee for personal use.