News

The Senate Finance Committee has established five working groups to examine the tax code and create recommendations for comprehensive reform. The groups, each co-chaired by a Republican and a Democrat, will focus on the business income tax; individual income tax; […]

The AICPA today released a new economic barometer, the PFSi (Personal Financial Satisfaction Index), which weighs a variety of economic factors to calculate the financial standing of a typical American. The PFSi debuted at +6.6, and calculated retroactively, shows an […]

In this blog post, Olivia Kirtley, former chair of the AICPA board of directors and current president of the International Federation of Accountants (IFAC), calls accountants the Swiss Army knife for modern business, equipped to bring transparency and accountability to […]

The Dodd-Frank Act continues to prompt concerns among lawmakers. Republicans want to repeal portions, while Democrats oppose attempts to ease measures. Lawmakers are expected to clash again this week as the House considers changes recently blocked by Democrats.

The AICPA urged Rep. Paul Ryan, R-Wis., the new chair of the House Ways and Means Committee, to follow the AICPA’s principles of good tax policy to guide tax reform, and it offered detailed comments on the tax reform proposal […]

The U.S. economy created 252,000 jobs in December, beating economists’ forecast of 240,000 jobs. The unemployment rate fell to 5.6%, compared with 5.8% in November.

Federal Reserve officials have expressed growing optimism that the U.S. economy has begun a sustainable recovery, according to minutes of the Federal Open Market Committee’s December meeting. Members said growing payrolls and falling oil prices stand a good chance of […]

The U.S. services sector expanded last month at the lowest rate since June, according to an Institute for Supply Management index. The benchmark reached 56.2, down from November’s 59.3 and short of a 58.5 forecast by analysts surveyed by Thomson […]

The Standard & Poor’s 500 index Monday posted its biggest one-day fall since Oct. 9 as plummeting global oil prices triggered a sell-off of energy shares. The Dow Jones industrial average gave up as much as 2%.