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Applications from exempt organizations do not contain protected return information

Organizations claiming the IRS targeted them for their political beliefs won a victory in the Sixth Circuit when the court denied the IRS’s petition to avoid having to disclose information about other organizations that were on the...

How to Turn Post Tax Season Into Business Valuation Season

When accounting or valuation professionals position themselves as trusted advisors with the ability to offer consulting, they can leverage their knowledge of a business’s financial data to provide a useful service that extends far beyond...

Valuation: Teach Clients To Treat Their Businesses As An Investment

To grow your business valuation services, consider helping your clients learn how to treat their business like an investment. Doing so can generate repeat valuation engagements while boosting your role as a trusted advisor. Only 5 percent of...

FASB Sets Up Transition Group for Credit Loss Standard

The Financial Accounting Standards Board has named the members who will serve on a Transition Resource Group to help with implementation of its upcoming credit losses standard. The Transition Resource Group will function in some ways like the...

Regulation still reigns as top risk for 2016

Uncertain economic conditions and pervasive, damaging cyberthreats did not prevent regulation from remaining the most worrisome risk for organizations, a new survey shows. For the fourth straight year, regulatory change and heightened scrutiny...

IRS launching competition to redesign taxpayer experience

The IRS announced that it will be launching a competition aimed at “civic-minded technologists, designers, and innovative thinkers” to improve taxpayers’ experience using the IRS website, which it said is one of the most visited...

IRS Highlights Top 10 Identity Theft Prosecutions

The Internal Revenue Service has released the Top 10 Identity Theft Prosecutions for Fiscal Year 2015 to highlights its efforts to combat tax refund fraud and identity theft. "The IRS continues fighting identity theft on several fronts, including...

IRS Business Audits Plummet Due to Budget Cuts

The Internal Revenue Service’s audits of business tax returns have declined steeply in recent years, thanks to successive rounds of budget cuts, according to a new analysis. Syracuse University’s Transactional Records Access...

There is a Tax Method to March Madness

Now that we’re in the midst of “March Madness,” the annual NCAA basketball tournament, you may be checking your bracket regularly to see how you’re faring in your office pool or other entries. If you’re on track for...

Tax Scammers Phishing Attempts Getting More Bold

Amazingly, the IRS has seen an increase close to 400 percent in phishing and malware incidents so far this tax season. The National Association of Enrolled Agents (NAEA), the association that represents tax practitioners licensed by the IRS, has...