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While the majority of professional service organizations routinely use generative AI, few are measuring their ROI, and when they do it is often centered around internal metrics versus business performance.

When business clients no longer need employer tax accounts, they need to close those accounts properly so they are no longer responsible for them.

Frank Bisignano testified on Tax Day during a Senate hearing about this past filing season and how IRS operations were affected by the new tax deductions.

The Internal Revenue Service rarely penalizes taxpayers who have high balances in foreign bank accounts and fail to file the proper forms, according to a new report.

The Senate Finance Committee ranking member introduced two bills cracking down on grantor retained annuity trusts and private placement life insurance.

IT hygiene; final tally; movements in the U.S. dollar; and other highlights from our favorite tax bloggers.

The theme of this year’s survey is “Caught in the Middle,” exploring how caregiving responsibilities, as well as other responsibilities outside work, affect accounting professionals navigating their careers.

The Internal Revenue Service will need to be ready for a wave of tax return filings from procrastinating taxpayers, as well as requests for extensions.

Fraudsters have been active again this tax season, but the increasing power of artificial intelligence is helping supercharge the danger of tax scams.

The IRS’s Office of Professional Responsibility warned tax preparers of endorsing or negotiating taxpayers’ federal refunds.