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The number of contracts with embedded leases will likely rise as companies increasingly rely on outsourcing through supply and service contracts, many of which may now qualify as leases.

Treasury has revealed a plan to end government control of Fannie Mae and Freddie Mac, the mortgage companies that were bailed out during the 2008 recession.

Treasury issued proposed regulations that provide new rules on how taxpayers treat advance-payment income under new book-tax conformity rules.

Businesses and accounting professionals with business clients here and in other states should have a plan to comply with the new tax collection environment created by the Wayfair decision.

FASB is proposing an Accounting Standards Update (ASU) intended to reduce the accounting costs and complexities related to the movement away from interbank-offered interest rates.

The U.S. Commerce Department reported Aug. 30 that U.S. consumer spending is still driving the economy, having outpaced economists’ predictions for July by surging 0.6% over June.

A recent survey indicates the majority of accountants underestimate the challenges involved in implementing the new lease accounting standards.

Last May, many accounting firms and their clients were impacted by a malware attack on cloud software provider Wolters Kluwer. Is your firm prepared for the unexpected?

The next round of real change in tax rules will be significant, either by extending TCJA or largely repealing it—depending on who wins the critical races in 2020.

The “marriage penalty”—which the TCJA attempted to eliminate—still kicks in for high-income couples earning more than $600,000 per year.