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.


IRS urges taxpayers to check withholding calculator to avoid surprises

The Internal Revenue Service has been sending a series of messages in recent weeks to taxpayers and tax professionals urging them to check the online withholding calculator to make sure they have the proper amount withheld from their paychecks so they can avoid a nasty surprise next tax season.


Mavenlink releases tool to connect all apps within a firm

M-Bridge is open API, with instruction manuals and style guides to help accountants build the software environment they want.


Private Company Council chair and two members reappointed for another term

The trustees of the Financial Accounting Foundation reappointed Candace Wright as chair for a second three-year term on Tuesday, while also reappointing two other members to another two-year term.