Trump’s business faces prosecutors’ tax scrutiny after Cohen plea

Now that a guilty plea by the president’s ex-lawyer has implicated the Trump Organization, federal, state and local prosecutors are circling.


New York taxpayers have four-day window to try to beat SALT cap

The IRS is blocking the charitable workarounds high-tax states like New York approved in response to the tax law’s $10,000 limit.


Firms on the move: Warren Averett sponsors team trip to Rwanda

ICPAS honors 75th anniversary of first African-American woman CPA; BKD launches new website; and more news from CPA offices across the country.


IRS offers guidance on switching from S corp to C corp status

The Internal Revenue Service issued a revenue procedure Wednesday providing information on how companies can change their method of accounting if they have switched from being an S corporation to a C corporation in response to the Tax Cuts and Jobs Act.


Proposed regs for extra first-year depreciation deduction will have an impact on construction

These proposed regulations affect taxpayers who deduct depreciation for qualified property acquired and placed in service after Sept. 27, 2017.


Consero Global gets $50M investment

In an unusual event for an outsourced financial services firm, Consero earns a significant cash infusion from BV Investment Partners.


Overhauling the tax overhaul: Here’s what Democrats are planning

Republicans thought the historic overhaul that slashed taxes would be one of their main campaign selling points ahead of November elections. Instead, Democrats are talking more about the law — and how they want to undo it.


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.