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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A new report raises questions about how much money is being shuttled between DAFs, rather than distributed to charity.
August 20 -
New reports indicate 497 high-income taxpayers had over $150 million in their individual retirement accounts, and nearly 25,000 taxpayers had aggregate IRA account balances of $5 million or more.
July 28 -
A new TIGTA report warns, however, that many didn’t follow the rules and could face potential tax penalties.
July 22 -
The Securities and Exchange Commission is ramping up enforcement against cryptocurrency providers, as the Internal Revenue Service has also stepped up investigations and compliance efforts.
July 15 -
Congress introduced bipartisan legislation aimed at changing the estimated tax payment deadlines to a uniform, quarterly schedule.
July 2 -
National Taxpayer Advocate Erin Collins pointed to continuing backlogs at the Internal Revenue Service and difficulty reaching telephone assistance in a report to Congress Thursday.
June 30 -
The Internal Revenue Service is focusing on cryptocurrency tax evasion with virtual currencies like Bitcoin and nonfungible tokens, employing data analytics to uncover transactions that crypto users assumed were hidden.
June 25 -
The proposed changes are worrying investors and their tax advisors, especially the possibility of making them retroactive.
June 10 -
The Internal Revenue Service is adjusting the limits for health savings accounts and high deductible health plans for inflation in new guidance Monday.
May 10 -
Questions remain about how advanced standards, frameworks and systems are.
May 3 -
The Internal Revenue Service is holding up millions of tax refunds for manual processing and its systems were unable to process many of the quarterly payments that needed to be sent by April 15.
April 23 -
The IRS and the Treasury Department are giving small businesses that received Paycheck Protection Program loans in the first round a way to deduct expenses they couldn’t claim last year.
April 22 -
The Internal Revenue Service is suspending a requirement for taxpayers who received too much on their advance payments for the Premium Tax Credit last year to repay the excess amount.
April 16 -
Commissioner Charles Rettig left open the possibility that there may be delays.
April 14 -
The service offered information on how to elect to apply an overpayment on 2020 taxes against Q1 2021 estimated taxes, which are still due on April 15.
April 14 -
Rep. Lloyd Smucker's legislation is in line with a request from accounting and tax professional groups.
April 9 -
Notice 2021-25 offers details on a provision of the COVID-19 relief package from last December that allows a temporarily larger deduction.
April 8 -
Employees who move to low-tax states may still be taxed by their former residence, as more states levy taxes on cross-border business.
April 7 -
The Internal Revenue Service is mailing letters to taxpayers explaining why they may not be getting as much of a Recovery Rebate Credit as they were expecting on their taxes.
April 5 -
The Internal Revenue Service responded Tuesday to calls for extending more tax deadlines by giving taxpayers until May 17 to make IRA and HSA contributions and file some refund claims.
March 30
