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The Financial Accounting Standards Board issued a standard Tuesday that makes targeted changes to existing GAAP for the recognition and measurement of financial instruments.

The Internal Revenue Service plans to move more taxpayer services online as it continues to deal with limited resources, but that could “unintentionally undermine taxpayer rights,” according to a report from Nina Olson, the national taxpayer advocate. The IRS responded […]

About $289 billion in market value was wiped out Monday as the Standard & Poor’s 500 index declined 1.5% in the first day of trading this year. It was the worst start for Wall Street since 2001. The sell-off began […]

First-time US jobless claims rose by 20,000, to 287,000, in the week that ended Dec. 26, the Labor Department said. That is the highest number since the week that ended July 4. The four-week moving average, which economists say gives […]

Consumers, the driving factor in the US economy, this month registered their highest level of optimism in five months after incomes climbed in November, boding well for fourth-quarter growth. However, the overall picture is mixed, with closely watched non-defense capital […]

US gross domestic product for the third quarter has been revised downward to 2% from an initial estimate of 2.1%. Adjustments were made for lower spending by businesses and for inventory. Analysts also point to the strong US dollar as […]

The declining unemployment rate in the US is likely to cause companies to raise salaries to retain workers or hire top talent, economists say.

The latest round of World Trade Organization talks concluded with an agreement to eliminate agricultural export subsidies and to expand the number of information and technology products for tariff reduction. Members did not reaffirm the mandate of the Doha round […]

The House has voted 318-109 to approve a tax package worth more than $600 billion that would make many tax breaks permanent and would temporarily extend others. Provisions that would become permanent include enhanced small-business expensing, the tax credit for […]