Michael Cohn

House Minority Leader Nancy Pelosi, D-Calif., said she would try to use a procedure known as a discharge petition to bring a Senate-passed bill for extending the middle-class tax cuts to the floor of the House.

CFOs in the U.S. remain uncertain about the future of the economy and their own businesses, according to a new survey.

President Obama met with congressional leaders at the White House on Friday to negotiate over the expiration of the Bush tax cuts and the looming problem of the so-called “fiscal cliff,” with the leaders agreeing that the meeting had been constructive.

It may be some time before Congress and the Obama administration decide what to do about the tax rates for next year, so it’s a good idea to plan for various alternative scenarios just in case.

Senate Finance Committee chairman Max Baucus, D-Mont., is laying out goals for tax reform as the expiration of the current tax rates looms at the end of the year.

The Securities and Exchange Commission has passed along a request to the Financial Accounting Standards Board that it consider making changes in how to account for derivatives contracts designated as hedging instruments.

Nearly half of hedge fund managers foresee a difficult year ahead for the sector, according to a survey by accounting firm Rothstein Kass.

Bank of America has introduced a 401(k) retirement plan for small businesses through its Merrill Edge unit.

A majority of taxpayers are concerned about the security and privacy of their personal and financial information when filing their state and federal tax returns online, according to a new survey.

The deficit reduction “supercommittee” in Congress appears increasingly unlikely to make any decisions on taxes before its impending November deadline.

Accountants who offer financial planning services can provide their clients much-needed help from a trusted advisor.

Announcing changes that will likely affect wealth managers helping clients with tax planning, the IRS said that many tax benefits for the 2012 tax year will increase due to inflation adjustments. Investors will be able to contribute an additional $500 to their 401(k), for a total of $17,000 for those under 50 and $22,500 for those 50 or older.

Financial advisors might want to start reviewing tax strategies for clients: Across the U.S., there were 97 increases in state sales and use taxes, 96 new taxes and nine decreases in the third quarter of the year, according to a new report.

Announcing changes that will likely affect wealth managers helping clients with tax planning, the IRS said earlier this week that many tax benefits for the 2012 tax year will increase due to inflation adjustments. That includes personal exemptions and standard deductions, with tax brackets also widening next year.

This week is National Save for Retirement Week, and a variety of financial planning groups are promoting that fact to attract clients.

Financial services professionals and firms need to do a better job of implementing globally accepted international standards for financial reporting, according to a new report from a task force led by the International Federation of Accountants.

A majority of married couples in their 60s lack the knowledge about how to maximize their Social Security benefits and whether or not to expect Social Security advice from a financial planner.

The Public Company Accounting Oversight Board has issued an alert to make auditors more aware of the risks they face when auditing companies with operations in emerging markets such as China.

Certified financial planners said they are satisfied with their choice of careers and plan to keep the CFP designation for 19 years, according to a new survey by the Certified Financial Planner Board of Standards.

The Internal Revenue Service has extended the due date until Sept. 9, 2011, for taxpayers with undisclosed foreign bank accounts to participate in its latest offshore voluntary disclosure initiative.