Bloomberg Tax has introduced an ASC 606 application which supports the revenue recognition standard. The product is available on the company’s cloud-based Advantage platform.

The Internal Revenue Service is creating a shorter Form 1040 for the 2019 tax season. The agency said this week the will be about half the size of the current version and will replace Forms 1040, 1040A and 1040EZ.

Liberty Tax Service has named Cherry Bekaert as its latest auditor. The accounting firm has to tackle Liberty’s financial statements for the year ended April 30 along with reviewing and filing Forms 10-Q for the quarters ended October 31 and January 31.