Michael Cohn

Editor-in-chief, AccountingToday.com

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Michael Cohn, editor-in-chief of AccountingToday.com, has been covering business and technology for a variety of publications since 1985. Prior to joining Accounting Today and WebCPA, he worked for Red Herring, Internet World, Beyond Computing, Accounting Technology and PC Magazine, and freelanced for a variety of other business publications. A graduate of the University of Pennsylvania with a BA in English, he studied accounting at the Wharton School of Business, and currently lives in New York City.

Tax scams

IRS warns of coronavirus relief payment scam

The Internal Revenue Service’s Criminal Investigation Division issued a warning Thursday about a new wave of COVID-19 scams tied to the latest round of stimulus payments, especially targeting taxpayers in the District of Columbia.

By Michael Cohn

January 14
Tax credits

Picking the top tax breaks from the latest stimulus package

Last month's COVID-19 relief bill has accountants recommending some deductions to clients, and wondering about the applicability of others.

By Michael Cohn

January 14
Paycheck Protection Program

SBA and Treasury reopen Paycheck Protection Program

The U.S. Small Business Administration and the Treasury Department relaunched the Paycheck Protection Program on Monday to new borrowers, prioritizing loans from community lenders.

By Michael Cohn

January 11
Paycheck Protection Program

IRS offers guidance on deducting PPP expenses

The Internal Revenue Service and the Treasury Department released guidance on claiming deductions for expenses associated with Paycheck Protection Program loans that have been forgiven.

By Michael Cohn

January 6
IRS

IRS ups fees for private letter rulings

The Internal Revenue Service is increasing many of the fees for requests for private letter rulings by 26.7 percent, starting Feb. 4.

By Michael Cohn

January 4
Tax debts

Taxpayers defaulted on over half of payment arrangements with private debt collectors

Private collection agencies that have contracted with the Internal Revenue Service to collect overdue tax debts have collected nearly $500 million since 2017, according to a new report, but that’s just a fraction of the over $30 billion owed.

By Michael Cohn

December 31
Tax relief

New coronavirus stimulus package contains some big tax items

The latest round of coronavirus stimulus legislation includes some major tax provisions and changes for accountants to watch out for in the New Year.

By Michael Cohn

December 21
Tax planning

Senate runoffs complicate year-end tax planning

The outcomes of two elections in Georgia that are scheduled for Jan. 5 are expected to determine the balance of power in the Senate and may also have an impact on the kind of tax planning that accountants should be advising their clients to do.

By Michael Cohn

November 30
IRS

House Democrats call for IRS funding to pursue wealthy tax evaders

A group of 25 Democrats in the House wrote to congressional leaders asking them to provide $12.1 billion in funding for the Internal Revenue Service, including $5.2 billion for enforcement, with an eye toward cracking down on high-income tax cheats.

By Michael Cohn

November 30
IRS

IRS clarifies deductibility of PPP loan expenses, as AICPA criticizes forgiveness questionnaire

The guidance clears up the tax treatment of expenses when a loan from the Paycheck Protection Program hasn’t been forgiven by the end of the year.

By Michael Cohn

November 19