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.
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Taxpayers are concerned the extra $80 billion will lead to more tax audits.
September 14 -
The Empire State is expanding a tax break that allows smaller companies to circumvent the $10,000 limit on state and local tax deductions.
August 19 -
There were signs of improvement in terms of audit engagements and quality control systems.
August 19 -
Commissioner Rettig is promising not to use the nearly $80 billion his agency will be receiving to increase audits of small businesses or taxpayers who earn less than $400,000.
August 17 -
The wording has changed from "virtual currencies" to "digital assets" in general, and there are other changes too.
August 9 -
DAFs have been receiving more than half their contributions from complex assets such as shares of public and private companies, real estate and cryptocurrency in the past five years.
August 8 -
The service’s recent policies expedited the hiring of new employees, but prolonged delays in eligibility verification could increase the risk of exposure of taxpayer data, according to a new report.
July 11 -
NTA Erin Collins expressed concern Wednesday about continuing delays by the service in processing tax returns filed on paper last year.
June 22 -
A congressional appropriations committee wants to give the Internal Revenue Service $1 billion more in funding to improve taxpayer service and technology and make the overall tax system fairer.
June 16 -
The plunging value of many cryptocurrencies and nonfungible tokens has led to worries about the tax implications faced by crypto investors and companies.
June 1 -
The service is taking steps to increase its audit rates of higher-income taxpayers after coming under sharp criticism in Congress over its lagging audit numbers.
June 1 -
The service decided to destroy the documents in March 2021 because of its inability to process its backlog of paper tax returns, according to a new report.
May 9 -
The CFA Institute has created a voluntary Diversity, Equity and Inclusion Code for the Investment Profession in the United States and Canada as financial firms wrestle with expanding a more diverse workforce.
February 25 -
A group of lawmakers teamed up Thursday to introduce bipartisan legislation that aims to create a workable structure for taxing purchases made with cryptocurrency.
February 3 -
Donor-advised funds increased their donations to charities last year in response to the COVID-19 pandemic, hitting the biggest levels in over a decade.
November 12 -
The service’s recent move to set new requirements for claiming refunds on research tax credits is provoking an uproar among tax professionals.
November 12 -
The service released its annual inflation adjustments Wednesday, including the standard deduction amount for individual and married taxpayers.
November 10 -
The service lifted the limit from $19,500 as part of its annual inflation adjustments.
November 4 -
The Internal Revenue Service’s Office of Chief Counsel is spelling out new requirements for information from companies submitting claims for research credit tax refunds to prove they’re valid.
October 15 -
The bipartisan infrastructure bill includes requirements for brokers to report their customers’ cryptocurrency gains to the Internal Revenue Service, but exactly what constitutes a broker is stirring controversy.
September 13
