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Jul 02, 2020
Yet another fictional company; more tooth and justice; unsafe bets; and other highlights of recent tax cases.
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Jul 02, 2020
Three worldwide accounting groups have banded together to issue a report offering guidance on how CFOs and finance teams can steer their organizations toward long-term value creation during the COVID-19 pandemic.
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Jul 02, 2020
The Internal Revenue Service is extending timelines for performing some of the actions associated with the low-income housing tax credit and bonds for qualified residential rental projects to give businesses more time during the COVID-19 pandemic.
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Jul 02, 2020
Audit firms can enhance the reliability of environmental, social and governance reporting, according to a new report from the Center for Audit Quality.
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Jul 02, 2020
EisnerAmper and DHG each develop COVID-19-related workplace solutions; AAM elects four to board of directors; and more CPA news.
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Jul 02, 2020
Finding ways to not just maintain revenues but increase them is becoming Job One for accounting practices large and small in the pandemic.
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Jul 02, 2020
With a resurgence of the coronavirus threatening a nascent rebound of the U.S. economy, the White House and Congress are under increased pressure to come to terms on another round of stimulus.
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Jul 02, 2020
The unemployment rate fell to 11.1 percent, as employees returned to work despite the ongoing spread of COVID-19.
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Jul 02, 2020
The House gave final last-minute congressional approval Wednesday to extending the popular loan program for small businesses until Aug. 8, hours after the deadline for applications lapsed with more than $130 billion still available.
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Jul 02, 2020
The COVID-19 pandemic looks to be accelerating the long-term trend toward the adoption of the cloud.
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Jul 01, 2020
The Babson College professor takes his post as the institute faces the challenge of the coronavirus pandemic.
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Jul 01, 2020
$1.5 billion is available for taxpayers who didn't file a federal income tax return.
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Jul 01, 2020
The Financial Accounting Standards Board and the Governmental Accounting Standards Board are under new chairmen Wednesday after their long-serving leaders completed their second terms.
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Jul 01, 2020
The National Association of State Boards of Accountancy, the American Institute of CPAs and testing administrator Prometric have launched the Continuous Testing model for U.S. CPA Exam candidates, due to the ongoing coronavirus pandemic, effective July 1, 2020.
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Jul 01, 2020
Private sector employers added 2,369,000 jobs in June, according to payroll giant ADP, in a promising sign of business recovery despite the COVID-19 pandemic. ADP also revised upward its May total from a loss of 2,760,000 jobs to a gain of 3,065,000 jobs.
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Jul 01, 2020
Cost segregation can be more complex than you think, depending on who owns the asset, how the property reports revenue, the nature of repairs and improvements made, and the depreciation time frame desired.
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Jul 01, 2020
If you have an income of $1 million or more there's less than a 1% chance that the IRS has called you in for an audit, according to new figures from the agency.
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Jul 01, 2020
Avalara Returns for Small Businesses arrives at the two-year mark of the Supreme Court Wayfair decision, which allows states to now collect sales tax from remote sellers.
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Jul 01, 2020
The IRS still hasn't found everyone who is due a $1,200 stimulus check from the government, and locating everyone eligible for the payments will be key for any additional pandemic relief Congress may pass later this year.
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Jul 01, 2020
The Senate has passed an extension of the popular Paycheck Protection Program for small businesses, which was set to close down Tuesday night with more than $130 billion in funding left over.
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Jul 01, 2020
Accounting's thought leaders predict how the profession can expect to successfully emerge from the crisis.
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Jun 30, 2020
Sports fans have heard the adage, "The best offense is a good defense." I feel the same way about the financial planning process. To be competitive in the ever-changing landscape of professional services, financial planners need to be as holistic as possible. Your defense against competitors is going to be your thoroughness and attention to detail.
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Jun 30, 2020
Audits plunge; new pricing survey; Mnuchin does Europe; and other highlights from our favorite tax bloggers.
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Jun 30, 2020
The labor market has a long road ahead as businesses try to adjust to the outbreak of the COVID-19 pandemic.
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Jun 30, 2020
The Internal Revenue Service has released its annual IRS Data Book for 2019 with a new format that aims to showcase the IRS's work in fiscal year 2019, along with an additional message about its response this year to the novel coronavirus pandemic, which delayed publication.
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Jun 30, 2020
BDO USA is adding CFO Advisors and MorganFranklin Consulting's public sector practice; RubinBrown Advisors combines with Wealth Management Advisors; Wessel & Company merges in Perry & Company; and CA P.A. joins Hancock Askew & Co.
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Jun 30, 2020
As small businesses in different parts of the country reopen in the midst of the novel coronavirus pandemic, they are beginning to increase the number of hours worked by their employees, according to payroll giant Paychex, although spikes in the virus are threatening to set back those gains.
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Jun 30, 2020
IDGT's are particularly useful estate planning tools in a low-interest-rate environment.
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Jun 30, 2020
Joel Black will succeed David Vaudt as chair of the Governmental Accounting Standards Board on July 1. He was appointed by the Financial Accounting Foundation six months ago and will be the first GASB chair without experience serving as a state auditor.
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Jun 30, 2020
The Internal Revenue Service won't further delay the tax filing and payment deadline past July 15, despite requests to do so, the agency said Monday.
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Jun 29, 2020
The Sustainability Accounting Standards Board voted during an online meeting last week to open a new standard-setting project to address single-use plastics and bio-alternatives in the chemicals and pulp and paper industries.
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Jun 29, 2020
National Taxpayer Advocate Erin Collins released her first report to Congress Monday, discussing some of the difficulties confronting taxpayers and the IRS during the COVID-19 pandemic.
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Jun 29, 2020
It is important to develop a specialty, but it needs to be balanced with the needs of the practice and your interests.
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Jun 29, 2020
Every accountant and financial planner will make mistakes, says John Napolitano of U.S. Wealth Management -- the question is how you handle them.
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Jun 29, 2020
The IRS initiated 71% fewer corporate audits this spring compared with the same time period a year ago as the coronavirus pandemic halted many agency operations.
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Jun 29, 2020
Multiple submissions for access to the same account slows processing times.
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Jun 29, 2020
Luckin Coffee Inc.'s board will require Chairman Charles Zhengyao Lu to resign, adding to the fallout from an accounting scandal that has battered the onetime market darling.
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Jun 29, 2020
Business leaders and accountants should understand three significant SALT issues, if they're expecting an increase of remote employees working in new state or local tax jurisdictions this year.
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Jun 29, 2020
Even before the outbreak of COVID-19, CFOs and finance leaders faced an increasingly complex landscape, driven by a multitude of social, political, and economic threats.
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Jun 29, 2020
The head of a federal watchdog agency had some direct experience with the shortcomings of one of the coronavirus stimulus programs — a check from the IRS made out to his late mother.
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Jun 29, 2020
Long-term changes are brewing underneath the surface issues surrounding the current crises.
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Jun 29, 2020
Robotic process automation is on the cusp of making your job much easier
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Jun 26, 2020
Hailee Johnson, a manager in UHY's audit practice in Michigan, led a softball team sponsored by the firm to a World Series C Softball Championship in 2017, and she is hoping to do the same this year.
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Jun 26, 2020
A recent webinar hosted by Inovautus Consulting found that polled firms are largely optimistic about the future, but marketing and advisory services remain vital amid the pandemic.
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Jun 26, 2020
Setting partner compensation is an art and not a science. Show me your compensation plan and I'll tell you your firm's strategy.
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Jun 26, 2020
ConvergenceCoaching launches annual "Anytime, Anywhere Work" survey; Mazars USA names chief people officer, chief marketing officer; and more CPA news.
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Jun 26, 2020
Wirecard auditors say ‘elaborate' fraud led to missing billions
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Jun 26, 2020
Italy and Spain also offered to limit the scope of a proposed global digital tax, a concession after the U.S. threatened to hit countries with tariffs if they moved ahead with levies on tech companies.
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Jun 26, 2020
The Internal Revenue Service wasted $22.7 million auditing tax returns that resulted in no additional revenue for the federal government, according to an agency watchdog.
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Jun 25, 2020
CPAs have a unique view into their clients who will exit their businesses in the not-too-distant future.
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Jun 25, 2020
The extension also applies to Americans living abroad who would otherwise generally have had a filing deadline of June 15.
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Jun 25, 2020
The extension also applies to Americans living abroad who would otherwise generally have a filing deadline of June 15.
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Jun 25, 2020
Bug in the system, again; the category is fraudster; pit stop; and other highlights of recent tax cases.
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Jun 25, 2020
The federal government's quick action to issue stimulus payments in the wake of the coronavirus crisis led to more than a billion dollars of fraudulent payments, while slow action to address the health risks might have worsened the outbreak, according to a report by a government watchdog.
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Jun 25, 2020
Wirecard AG filed for insolvency, the culmination of a stunning accounting scandal that led to the arrest of its CEO and left the German payment-processing firm unable to find over $2 billion missing from its balance sheet.
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Jun 25, 2020
Top Democrats in the House and Senate are backing a measure that would deny coronavirus aid to companies that moved their official headquarters offshore to avoid U.S. taxes.
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Jun 25, 2020
Taxpayers who are owed a refund may also get a second check this year if they took advantage of the July 15 extended filing deadline, according to the Internal Revenue Service.
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Jun 25, 2020
Accounting firm leaders need to hold fast to growth principles in changing times.
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Jun 25, 2020
The pandemic has created many great opportunities for finance pros to help their clients.
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Jun 25, 2020
There are close to 84,000 employee benefit plan audits conducted in the United States each year, almost 70 percent of which are limited scope audits.
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Jun 24, 2020
The committee's suggestions for the IRS include collaborating with the FTC.
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Jun 24, 2020
The COVID-19 pandemic isn't stopping BDO USA from pursuing a constant series of M&A deals in recent years, although the latest one had to be mostly negotiated at a safe distance.
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Jun 24, 2020
The COVID-19 pandemic is likely to lead to long-term consequences for organizations, according to a survey of accountants around the world by the Association of Chartered Certified Accountants.
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Jun 24, 2020
The Internal Revenue Service released final regulations Wednesday on how a regulated investment company that receives qualified real estate investment trust dividends should report the dividends paid by the company to its shareholders in accordance with section 199A of the Tax Code, which allows the investors to take a hefty deduction.
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Jun 24, 2020
As businesses plan for reopening following the coronavirus (COVID-19) pandemic, your firm may be wondering how you can best advise clients on safety and HR-related topics during this time.
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Jun 24, 2020
The annual list recognizes top leaders from accounting firms across the country.
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Jun 24, 2020
Britain's audit industry faces another dent to its reputation as the nation's accounting watchdog ordered a probe into PricewaterhouseCoopers LLP, Ernst & Young and Oliver Clive & Co.'s work for defunct London Capital & Finance Plc.
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Jun 24, 2020
Treasury Secretary Steven Mnuchin said he may consider a second extension in the U.S. tax filing deadline as the coronavirus pandemic continues.
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Jun 24, 2020
The IRS offers tax relief for those affected by storms and flooding in the Southeast.
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Jun 24, 2020
A clear set of guidelines is a must to protect your firm.
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Jun 23, 2020
The IRS offers guidance in Notice 2020-51 on the rollover period, which has been extended to Aug. 31.
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Jun 23, 2020
Notices finally arriving; big breaks for Oprah and Walmart; the snares of working remotely; and other highlights from our favorite tax bloggers.
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Jun 23, 2020
Intuit CEO Sasan Goodarzi announced that the software giant would be changing focus to virtual solutions, omni-channel commerce and money benefits to small businesses, in light of the impact of COVID-19.
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Jun 23, 2020
The Governmental Accounting Standards Board issued guidance Tuesday to improve the reporting of Section 457 deferred compensation plans for state and local government employees.
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Jun 23, 2020
The pandemic is introducing changes — potentially significant ones — to the SOX compliance process.
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Jun 23, 2020
The pandemic is introducing changes — potentially significant ones — to the SOX compliance process.
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Jun 23, 2020
The U.S. Supreme Court limited the power of the Securities and Exchange Commission to recoup illegal profits from wrongdoers, putting new curbs on one of the agency's most potent legal weapons.
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Jun 23, 2020
The rules governing qualified improvement property ...
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Jun 23, 2020
Wirecard AG's former chief executive officer was detained by Munich prosecutors after 1.9 billion euros ($2.1 billion) went missing from the digital-payment company, in a scandal that has rattled Germany's financial industry.
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Jun 22, 2020
The Internal Revenue Service has issued a set of proposed regulations to provide guidance on the elimination of the deduction of qualified transportation fringe and commuting expenses in the Tax Cuts and Jobs Act.
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Jun 22, 2020
Anders CPAs Advisors plans to merge in Cummings, Ristau & Associates at the end of June; and Adams, Brown, Beran & Ball, Chtd.has acquired the Jonesboro, Arkansas, office of EGP PLLC.
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Jun 22, 2020
Two years in, state and businesses are still figuring out all the ramifications of the landmark sales tax decision.
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Jun 22, 2020
The U.S. Supreme Court refused to question a ruling that technology companies including Facebook Inc. and Google say will cost them billions of dollars in taxes by limiting deductions for stock payments to employees.
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Jun 22, 2020
Tax pros share what they're telling clients about relief for the jobless during the pandemic.
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Jun 22, 2020
Wirecard AG was left fighting for survival after acknowledging that 1.9 billion euros ($2.1 billion) that it had reported as assets probably don't exist, deepening an accounting scandal that has rattled Germany's financial industry.
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Jun 22, 2020
Many new partners continue as they were, but with a higher status, and more pay. However, there is plenty for new partners to know and do, and unfortunately many firms do not have any "new partner training,"
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Jun 22, 2020
U.S. Securities and Exchange Commission Chairman Jay Clayton was surprised and dismayed by the political battle that quickly erupted over his pending nomination to be the top federal prosecutor in New York, said people familiar with the matter.
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Jun 22, 2020
With the landmark Supreme Court decision marking its second anniversary, Avalara's Scott Peterson and Liz Armbruester dive into its origins -- and its many, many ramifications.
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Jun 22, 2020
The Trump administration, following a backlash, said it would release details about companies that received loans of $150,000 or more from a coronavirus relief program for small businesses.
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Jun 19, 2020
It's a good time to be opportunistic about your firm's future — and to poke these embers in a meaningful way.
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Jun 19, 2020
The Internal Revenue Service provided guidance on expanded eligibility and more.
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Jun 19, 2020
Advisable taps advisory teams from around the world who share their insights and experience.
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Jun 19, 2020
Mindbridge named a World Economic Forum Technology Pioneer; Mazars USA opens office in Dallas; and more CPA news.
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Jun 19, 2020
For B2B sellers, extending credit to customers always carries a degree of risk — payments could be delayed, or worse yet delinquent, jeopardizing working capital. But in an economic crisis, that risk is compounded.
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Jun 19, 2020
Markus Braun's almost two decades as Wirecard AG's chief executive officer ended after accusations about the company's accounting culminated in a shock disclosure that it was unable to locate 1.9 billion euros ($2.1 billion).
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Jun 19, 2020
Internal Revenue Service employees are beginning to go back to their offices to deal with the mountain of paperwork awaiting them, even as some are testing positive for COVID-19, but they quickly adapted to working remotely in recent months, according to a group of top IRS officials.
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Jun 18, 2020
Ernst & Young and its business tax clients at companies across the U.S. and other countries have faced a series of challenges amid the pandemic.
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Jun 18, 2020
The popular events will be entirely online this year.
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Jun 18, 2020
Not ferry nice; bettering their living conditions; precious Metal; and other highlights of recent tax cases.
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Jun 18, 2020
The New Jersey Society of CPAs highlighted local professionals who are advancing the profession forward in such areas as diversity, innovation and education.
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