News

President Barack Obama plans to ask Congress to tax U.S. corporate profit accumulated overseas to pay for a $478 billion public works program. Under the proposal, an estimated $2.1 trillion that multinationals have amassed in profit abroad would be taxed […]

The International Monetary Fund reduced its forecast for global economic growth in 2015 to 3.5%, from 3.8%, blaming “investment weakness” for a slowdown in advanced emerging markets, such as Brazil.

President Barack Obama is proposing tax increases for the richest Americans to pay for proposed tax breaks for couples who both earn and increased tax credits for child care and higher education. The proposals would increase the top capital gains […]

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.