Michael Cohn

New York

Online Editor-in-Chief at Accounting Today

Online editor-in-chief at Accounting Today https://t.co/C1TLvi4qLh @AccountingToday

Articles

Global tax leaders face uncertainty amid tariff push

1 day ago | accountingtoday.com | Michael Cohn

Tax and finance executives around the world are confronting the prospect of increased tariffs and trying to adjust their plans accordingly. Many are anticipating the need for greater tax disclosures, according to a new survey by Deloitte of 1,100 tax and finance executives from 28 countries. The survey found 82% of the respondents expecting increased public tax disclosures over the next two to three years.
Grant Thornton unites firms in US, UAE, Luxembourg, Cayman

1 day ago | accountingtoday.com | Michael Cohn

Grant Thornton Advisors is merging together more of the international firms in its network, adding firms in the United Arab Emirates, Luxembourg and the Cayman Islands to the ones it combined in the U.S. and Ireland in January.
Education Department to restart student loan collections

2 days ago | accountingtoday.com | Michael Cohn

The U.S. Department of Education plans to resume collecting defaulted student loans on May 5 after a yearslong pause since the pandemic. The Education Department said it hasn't collected on defaulted student loans since May 5. The resumption of collections under the Trump administration comes after courts blocked the Biden administration's attempts to offer student loan forgiveness.
Atkins sworn in as SEC chairman

2 days ago | accountingtoday.com | Michael Cohn

Paul Atkins was sworn in Tuesday as the new chair of the Securities and Exchange Commission and is expected to bring a more deregulatory and crypto friendly approach to the SEC. Atkins was previously a member of the Commission from 2002 to 2008, when he was appointed by then-President George W. Bush. He was named by President-elect Donald Trump last December as the next SEC chair before Trump took office again, prompting the departure of then-chairman Gary Gensler on Inauguration Day, Jan.
Baker Tilly merges with Moss Adams

3 days ago | accountingtoday.com | Michael Cohn

Baker Tilly and Moss Adams have made their merger official, combining to form what promises to be the sixth largest CPA firm in the U.S.Rumors of the impending merger began to leak out earlier this month. The two firms plan to combine under the Baker Tilly name. Moss Adams already has a large presence in the West and Central regions, while Baker Tilly dominates in the East and Midwest, and their merger will give them a larger national footprint.
Tennessee passes law expanding CPA licensure path

3 days ago | accountingtoday.com | Michael Cohn

The Tennessee General Assembly passed legislation backed by the Tennessee Society of CPAs adding an extra pathway to a CPA license as more states make efforts to alleviate the shortage of new accountants. SB 1316/HB 1330, introduced by Senate Majority Leader Jack Johnson and House Majority Leader William Lamberth on behalf of the administration, was filed for introduction on Feb. 6. The legislation aligns with Tennessee Governor Bill Lee's goal to streamline state boards and simplify licensing.
Earned Wealth acquires Chahal

3 days ago | accountingtoday.com | Michael Cohn

Earned Wealth, a New York-based financial services firm that caters to health care professionals like doctors, dentists, veterinarians and podiatrists, has acquired Chahal & Associates, a tax and accounting firm based in Hercules, California. The acquisition will add Chahal's client base of approximately 2,500 doctors, business owners and high net worth professionals to Earned Wealth.
IRS proposes to end penalties on basis-shifting transactions

3 days ago | financial-planning.com | Michael Cohn

The Treasury Department and the Internal Revenue Service are planning to withdraw regulations that labeled basis-shifting transactions among partnerships and related parties as "transactions of interest" akin to tax shelters and stop imposing penalties on them. In , the Treasury and the IRS said Thursday they intend to publish a notice of proposed rulemaking proposing to remove the basis-shifting TOI regulations from the Income Tax Regulations.
Acting IRS commissioner replaced by Treasury official

6 days ago | accountingtoday.com | Michael Cohn

Gary Shapley, who was named only days ago as the acting commissioner of the Internal Revenue Service, is reportedly being replaced by Deputy Treasury Secretary Michael Faulkender amid a power struggle between Treasury Secretary Scott Bessent and Elon Musk. The New York Times reported that Bessent was outraged that Shapley was named to head the IRS without his knowledge or approval and complained to President Trump about it.
IRS proposes to end penalties on basis-shifting transactions

1 week ago | accountingtoday.com | Michael Cohn

The Treasury Department and the Internal Revenue Service are planning to withdraw regulations that labeled basis-shifting transactions among partnerships and related parties as "transactions of interest" akin to tax shelters and stop imposing penalties on them. In Notice 2025-23, the Treasury and the IRS said Thursday they intend to publish a notice of proposed rulemaking proposing to remove the basis-shifting TOI regulations from the Income Tax Regulations.