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.

Retirement planning

Lawmakers propose bill to improve retirement plans and tax breaks

The legislation would encourage saving earlier by enrolling employees automatically in their company’s 401(k) plan, whenever a new plan is created.

By Michael Cohn

3h ago
IRS

IRS extends time for $500 per child stimulus payments

An estimated 9 million people haven't yet received Economic Impact Payments provided under the CARES Act.

By Michael Cohn

October 27
Tax rates

IRS adjusts tax item amounts for 2021 due to inflation

The agency announced changes to more than 60 tax provisions.

By Michael Cohn

October 26
IRS

IRS sets end date for faxing tax refund claim forms amid COVID-19

The agency finalized plans to stop the temporary procedures for Forms 1045 and 1139.

By Michael Cohn

October 19
Tax regulations

IRS finalizes ABLE account regulations

While the contributions aren’t deductible, distributions such as earnings are tax-free to the designated beneficiary if they’re used to pay for qualified disability expenses.

By Michael Cohn

October 5
Tax regulations

IRS finalizes 100% bonus depreciation rules

The final regulation includes guidance on the requirements needed for properties to qualify for the deduction.

By Michael Cohn

September 22
Payroll taxes

Democrats move to stop payroll tax deferral

“Americans are relying on Social Security more than ever during this pandemic,” House Ways and Means Social Security subcommittee chairman John B. Larson wrote.

By Michael Cohn

September 9
Tax forms

IRS previews draft version of 1040 for next year

Several significant changes are probably in store for next tax season.

By Michael Cohn

August 24
IRS

IRS to stop sending notices for unpaid taxes until it catches up on mail backlog

The agency is encouraging taxpayers who have received but not yet responded to a CP-14 notice to promptly do so.

By Michael Cohn

August 24
Tax refunds

IRS to send 13.9M taxpayers interest on refunds

By law, these payments are taxable so clients will need to report them on their 2020 federal income tax returns.

By Michael Cohn

August 19