Pentagon to start using U.S. GAAP instead of cost accounting
The Defense Department plans to shift from its traditional use of cost accounting to the more widely prevalent U.S. GAAP to make it easier to do business with companies.

When filing overdue tax returns requires criminal defense, not just an accountant
If the non-filing was innocent, the strategy may be civil. If it was willful, the strategy may need to begin with criminal tax counsel before any return is filed.

How student athlete salaries are changing college sports
There's a new financial model in college sports, and it looks a lot more like the club seats and swanky amenities offered by pro teams.

AI future savings is latest EBITDA tweak to jolt debt investors
Earnings before interest, taxes, depreciation and amortization has long been considered a fairly fuzzy number, especially when it comes to riskier borrowers.

SEC moves to scrap rules on shareholder proxy proposals
The agency is also proposing to overhaul the proxy solicitation process by eliminating the so-called glossy report.

House Republican discord sinks vote on gas tax holiday
Members of the hard-right Freedom Caucus threatened to tank the House agenda but let up after they said leaders promised them a gas tax suspension vote.

House committee advances digital asset, EFIN and gambling tax bills
The House Ways and Means Committee held a markup session to consider the Digital Asset Tax Certainty Act, EFIN Verification Act and FULL HOUSE Act.

Savant rebrands tax arm, adds two Illinois firms
Savant Wealth Management rebranded its tax and consulting arm as Savant Accounting & Business Advisory and simultaneously acquired two tax firms, expanding its presence in Illinois.

Randy Crabtree creates Brainstorm Group
The longtime accounting profession leader and conference speaker announced the debut of his new consulting and advisory practice.

The IRS charged the interest. Was it legal?
If your clients carried federal tax debts through the pandemic, the interest deserves a second look.