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   NEWS: ACCOUNTING TODAY
Accounting Today
Apr 25, 2019

Tax Fraud Blotter: Scales of justice
Aggravating factors; a big dig; steal of the Century; and other highlights of recent tax cases.

Accounting Today
Apr 25, 2019

Three habits of millionaire CPAs
What makes these ultra-high performers different from the rest of the profession?

Accounting Today
Apr 25, 2019

RSM US launches Technology Experience Center
The Top 10 Firm's new innovation center invites clients to explore business solutions with interactive 'immersion experiences.'

Accounting Today
Apr 25, 2019

The right and wrong approaches to marketing planning
Are you using a flawed approach to market your accounting firm?

Accounting Today
Apr 25, 2019

IMA offers guidance on managerial costing models
The Institute of Management Accountants has issued a new report with best practices for developing an effective costing model.

Accounting Today
Apr 25, 2019

FASB tweaks financial instruments standards
The Financial Accounting Standards Board released an accounting standards update Thursday to clarify three of its recent standards for credit losses, hedging, and recognition and measurement of financial instruments.

Accounting Today
Apr 25, 2019

Wall Street nears a big win in the latest revamp of Volcker Rule
The latest effort to overhaul the post-financial crisis rule would replace the proposed "accounting prong" for determining which kinds of trades are prohibited.

Accounting Today
Apr 25, 2019

Google wins again in French court fight over $1B tax bill
A second court rejected claims the search-engine giant abused loopholes to avoid paying its fair share.

Accounting Today
Apr 25, 2019

Booker's tax returns show he got stung by SALT deduction cap
The Democratic presidential candidate and New Jersey senator released 10 years of tax returns, showing he faced a new cap on deductions of state and local taxes.

Accounting Today
Apr 25, 2019

Scooters showing up in business expense reports
More business travelers are using scooters to get around town, and the rentable scooter trend is starting to show up in corporate expense reports.

Accounting Today
Apr 25, 2019

Americans' financial satisfaction reaches record high, thanks to stock market, says AICPA
A rebound in the stock market in the first quarter of 2019 enabled the index to rebound to an all-new high.

Accounting Today
Apr 24, 2019

Corporate tax pros turn to AI and bots to comply with Tax Cuts and Jobs Act
Nearly three-quarters (74 percent) of corporate tax professionals are dedicating extra time and technology resources, including artificial intelligence and bots, to help their companies comply with the Tax Cuts and Jobs Act, according to a new survey by Ernst & Young.

Accounting Today
Apr 24, 2019

Rainmaker shifts alliance focus, disbands int'l association
The training and consulting company will close Enterprise Worldwide.

Accounting Today
Apr 24, 2019

Be careful with retirement provisions in partnership agreements
When partners retire, maintaining client relationships and providing clear expectations are important building blocks for a firm's sustained success.

Accounting Today
Apr 24, 2019

Supreme Court backs businesses, curbs class arbitration in tax fraud case
An ideologically divided U.S. Supreme Court gave businesses more power to channel disputes into individual arbitration proceedings, siding with a lighting retailer trying to prevent its employees from pressing group claims stemming from a phishing attack.

Accounting Today
Apr 24, 2019

Big Four, more among 'Best Places to Work' in professional services
Fortune magazine ranked the top 25 companies to work for in consulting and professional services, featuring a number of prominent accounting firms.

Accounting Today
Apr 24, 2019

A close encounter of the fourth kind: AP automation
Sometimes even simple automation means a big change in how an accountant spends their time, and any change is scary.

Accounting Today
Apr 24, 2019

3 ways accountants can implement AI today
Artificial intelligence is poised to transform the finance industry with advancements that eliminate tedious tasks and free up time for financial staff to prioritize higher impact responsibilitie

Accounting Today
Apr 23, 2019

In the blogs: Two out of three ain't bad
Another one in the books; bias in the TCJA; talking basis; and other highlights from our favorite tax bloggers.

Accounting Today
Apr 23, 2019

H&R Block founder Henry Bloch dies
The tax preparation pioneer was 96.

Accounting Today
Apr 23, 2019

Trump still ‘not inclined' to turn over tax returns by deadline
President Donald Trump showed no sign of softening his resistance to releasing his tax returns, with a spokesman saying he's still "not inclined" to hand over the paperwork despite a Tuesday deadline set by Congress.

Accounting Today
Apr 23, 2019

Opportunity zone rules aim to spur further business and real estate investment
The proposed regulations could unlock greater investment in low-income communities and give businesses a chance to reap tremendous profits.

Accounting Today
Apr 23, 2019

Is this the year you'll fire a few clients?
With a finite amount of time and resources, you want to be sure you are investing in your best clients.

Accounting Today
Apr 23, 2019

IRS still has work to do on authenticating taxpayers to use apps
The Internal Revenue Service is making progress on improving the taxpayer authentication processes for its online applications, but more needs to be done.

Accounting Today
Apr 23, 2019

The end of a multi-state nightmare for mobile clients?
The Senate looks to ease the burden on taxpayers who travel to work in multiple states.

Accounting Today
Apr 23, 2019

Goldman Sachs Earth Day impact report shows change isn't easy
Goldman became the first bank to publish its report in line with Sustainability Accounting Standards Board metrics.

Accounting Today
Apr 23, 2019

Professional growth, work-life balance top class of 2019's desires
According to a new report from LaSalle Network, graduating college students are starting to value balance and professional development over compensation.

Accounting Today
Apr 22, 2019

Protecting client data is key — but don't forget employee data
With cybercrime on the constant rise, accounting firms should take protecting staff data as seriously as protecting customer data.

Accounting Today
Apr 22, 2019

AICPA launches international tax certificate program
The American Institute of CPAs has introduced a U.S. International Tax Certificate Program that aims to give accounting and finance professionals added skills to navigate the vagaries of international tax compliance and planning.

Accounting Today
Apr 22, 2019

Noski to chair FAF until end of year
The former Bank of America vice chairman has agreed to stay on through the rest of 2019 as the board of trustees searches for new leaders at FASB and GASB.

Accounting Today
Apr 22, 2019

Noski to chair Financial Accounting Foundation until end of year
The former Bank of America vice chairman has agreed to stay on through the rest of 2019 as the board of trustees searches for new leaders at FASB and GASB.

Accounting Today
Apr 22, 2019

IRS to ask for more info about divorce and separation on 1040
A TIGTA report examines the impact of the Tax Cuts and Jobs Act on the service, and how it was implemented.

Accounting Today
Apr 22, 2019

IRS to ask for more information about divorce and separation agreements on 1040
The Internal Revenue Service plans to add a question to Schedule 1 of the Form 1040 asking taxpayers who claim a deduction for paying alimony to provide the date of their divorce or separation agreement.

Accounting Today
Apr 22, 2019

Art of Accounting: Anything less than a 10 is an F
CPA firms are becoming more niche driven and expanding into greater advisory roles.

Accounting Today
Apr 22, 2019

Elizabeth Warren proposes scrapping student-loan debt for millions through wealth tax
The Democratic presidential candidate is seeking to show young voters she would ease one of their biggest economic burdens.

Accounting Today
Apr 22, 2019

Trump's taxes: 1924 law gives Congress authority to see returns
If Democrats in Congress succeed in their quest to get Donald Trump to cough up his tax returns, they'll have another Republican president to thank: Warren G. Harding.

Accounting Today
Apr 22, 2019

Trump sues to block House subpoena for financial documents
The president and the Trump Organization have asked a U.S. judge to reject a Congressional subpoena seeking business records from his longtime accounting firm Mazars USA LLP.

Accounting Today
Apr 19, 2019

A primer on CAMS
AICPA chief auditor Bob Dohrer dives deep into the new requirement for reporting critical audit matters in the auditor's report, including recent guidance.

Accounting Today
Apr 19, 2019

The top 10 cities for accountants
AdvisorSmith ranks the metropolitan areas that offer the most opportunity for accounting pros.

Accounting Today
Apr 19, 2019

Alvarez & Marsal debuts LeaseSCRE tool for lease accounting
The web-based tool employs machine learning technology to estimate an incremental borrowing rate curve for the leasing standard.

Accounting Today
Apr 19, 2019

FASB technical director Susan Cosper promoted to board member
The Financial Accounting Foundation's board of trustees has appointed Susan M. Cosper, technical director of the Financial Accounting Standards Board, as a member of the FASB board.

Accounting Today
Apr 19, 2019

Innovation means being open to new ideas
Innovation within your accounting firm need not be overwhelming or scary at all. In fact, it can be a lot of fun and lead to greater revenues.

Accounting Today
Apr 19, 2019

Appeals court finds taxpayer failed to mail amended return in time despite mailbox rule
A federal appeals court reversed a district court's judgment, holding that taxpayers could not rely on the common law mailbox rule to show that an amended return had been timely filed in order to claim a tax refund.

Accounting Today
Apr 19, 2019

Firms & people on the move: Traphagen Financial marks Tax Day with charitable shave
Citrin Cooperman hires two principals; Hantzmon Wiebel hosts drive for local animal shelter; and more CPA news.

Accounting Today
Apr 18, 2019

Tax Fraud Blotter: For whom the Pell tolls
Two decades and tens of millions; bank error; dirty deal; and other highlights of recent tax cases.

Accounting Today
Apr 18, 2019

ADP releases Next-Generation Tax Engine
The Tax Cuts and Jobs Act is an opportunity for tax automation companies to provide ways to simplify taxes for companies struggling to keep up.

Accounting Today
Apr 18, 2019

Top safety concerns at accounting firms
If though it's a low-risk profession, accounting employees can still experience injuries or illnesses caused by preventable hazards.

Accounting Today
Apr 18, 2019

U.K. regulators recommend shake-up in audit market
The United Kingdom's Competition and Markets Authority long-awaited report calls for separation of audit from consulting services, mandatory "joint audits," and the introduction of statutory regulatory powers to increase accountability of audit committees.

Accounting Today
Apr 18, 2019

IRS releases 6-year plan to modernize aging computer systems
The Internal Revenue Service hopes to improve taxpayer service and cybersecurity by updating its IT infrastructure.

Accounting Today
Apr 18, 2019

Auditors getting tougher in Korea in blessing for investors
South Korean auditors are refusing to sign off on more and more corporate financial statements due to tighter regulations, giving investors earlier warning signs of trouble ahead.

Accounting Today
Apr 18, 2019

Trump's opportunity zone rules deliver on investors' wish list
There's plenty of enthusiasm for new U.S. tax breaks for investing in low-income communities designated as opportunity zones. But many people have delayed spending because of uncertainty about how the incentives will work.

Accounting Today
Apr 18, 2019

How to make Trump's tax returns public? The GOP may have cleared a path
If Democrats now in charge of the House Ways and Means Committee ever get their hands on President Donald Trump's tax returns, they could thank their Republican predecessors for providing cover to make the documents public.

Accounting Today
Apr 17, 2019

Using M&A in your high-growth strategy
If you want to use mergers and acquisitions to grow your accounting practice, here are some perspectives to consider.

Accounting Today
Apr 17, 2019

Supreme Court hears arguments on major state trust tax case
The justices questioned a state's ability to tax income from a trust based on the beneficiaries residing there before taking any distributions.

Accounting Today
Apr 17, 2019

IRS issues guidance on opportunity zone investments
The proposed regulations offer further details about a provision of the Tax Cuts and Jobs Act aimed at spurring real estate investment in needy communities.

Accounting Today
Apr 17, 2019

Tax refunds and tax decreases varied by state, says H&R Block
The size of clients' tax refunds was up 1.4 percent this tax season, while their overall tax liability was down 24.9 percent.

Accounting Today
Apr 17, 2019

Corporate income smoothing tied to CEO stocks and options
Companies report fluctuations in revenue and expenses over time in a way that makes the earnings growth look steady across quarters.

Accounting Today
Apr 17, 2019

Accounting class-action lawsuit settlement totals climbed last year
The total value of securities class action settlements involving accounting allegations reached the second-highest level in the past 10 years, according to a new report.

Accounting Today
Apr 17, 2019

Accounting class-action suit settlement size jumped last year
There were fewer total settlements in 2018, but the dollar figures involved increased more than fivefold.

Accounting Today
Apr 17, 2019

EY makes major moves in blockchain
EY has announced a significant investment into its Blockchain Analyzer product, as well as, separately, the release of its zero-knowledge proof (ZKP) private transaction protocol into the public domain.

Accounting Today
Apr 17, 2019

PwC, Deloitte top Vault's best firms list
The Vault Accounting 50 ranks the top workplaces in North America based on prestige, firm culture, and other factors.

Accounting Today
Apr 17, 2019

PwC, Deloitte top Vault.com's best firms to work for
The annual Vault Accounting 50 ranks the best accounting firms to work for in North America based on prestige, firm culture, and other factors.

Accounting Today
Apr 17, 2019

Elizabeth Warren's corporate tax plan sounds reasonable. It isn't.
The senator really hates it when corporations that report billions of dollars in profit pay little or no tax to Uncle Sam.

Accounting Today
Apr 17, 2019

GE urged to drop auditor KPMG following accounting missteps
An adviser to union pension funds is calling on General Electric to change audit firms after investor confidence in the one-time blue-chip company has been rattled.

Accounting Today
Apr 16, 2019

In the blogs: School for scandal
Another one in the books; bias in the TCJA; talking basis; and other highlights from our favorite tax bloggers.

Accounting Today
Apr 16, 2019

Token Taxonomy Act 2.0: Cooking low, and cooking slow
The second iteration of the Token Taxonomy Act, released on April 9 and hereinafter referred colloquially as "2.0," is Congress' latest product aimed at recognizing and defining a new asset class derived from blockchain technology.

Accounting Today
Apr 16, 2019

Don't take your post-tax season vacation yet
Extend tax season for half a day to debrief. You will be so glad you did.

Accounting Today
Apr 16, 2019

Why your firm's About page is important and how to create one
One of the easiest ways to create a strong brand image is often treated as an afterthought or it's overlooked entirely.

Accounting Today
Apr 16, 2019

Your firm's 'About' page is important — here's how to create one
One of the easiest ways to create a strong brand image is often treated as an afterthought or it's overlooked entirely.

Accounting Today
Apr 16, 2019

10 common reasons why CPA firms fail
Many small and midsized firms don't reach their full potential. Here's why.

Accounting Today
Apr 16, 2019

Out of the Box Technology and EBS Associates merge
Out of the Box Technology and EBS Associates, two accounting firms-cum-QuickBooks solutions providers, have merged.

Accounting Today
Apr 16, 2019

Eide Bailly acquires Xerva
The Top 100 Firm is buying a provider of data analytics and data warehousing technology in Orem, Utah, effective May 1.

Accounting Today
Apr 16, 2019

Accountants feeling better about global economy in Q1
Global economic confidence rebounded in Q1, according to a quarterly survey by the ACCA and the IMA.

Accounting Today
Apr 16, 2019

KPMG, EY reported to police amid Danish laundering probes
Denmark has reported the local operations of Ernst & Young and KPMG to the police amid a widening crackdown on money laundering in the country.

Accounting Today
Apr 16, 2019

Big tech's big tax ruse: Industry splurges on buybacks
Some of the largest U.S. technology companies pushed for a corporate tax overhaul in 2017 by suggesting they would go on hiring sprees and boost the economy. Just over a year after getting what they wanted, data show these firms gave most of their huge tax savings to investors.

Accounting Today
Apr 16, 2019

Trump touts tax cuts in Minnesota seeking to sway public opinion
The president promoted the tax overhaul on Tax Day, even as the law has swelled the deficit and failed to gain traction with voters in last year's midterm elections.

Accounting Today
Apr 16, 2019

Beto O'Rourke reported income topping $370K in 2017 tax return
The Democratic presidential candidate made a mistake on deducting medical expenses in 2013 and 2014.

Accounting Today
Apr 16, 2019

Bernie Sanders releases tax returns, showing million-dollar years
The Vermont senator and his wife earned more than $1 million in total income in 2016 and 2017.

Accounting Today
Apr 15, 2019

Top 10 most unusual expenses
One thing that all business trips have in common is turning in receipts for travel and expenses, but what should or shouldn't employees be expensing?

Accounting Today
Apr 15, 2019

The Top 10 most unusual expenses
One thing that all business trips have in common is turning in receipts for travel and expenses, but what should or shouldn't employees be expensing?

Accounting Today
Apr 15, 2019

Classic Supreme Court case was an oldie but a goodie
Just about everyone who has studied tax law is familiar with the landmark Supreme Court decision in Eisner v. Macomber, argued 100 years ago.

Accounting Today
Apr 15, 2019

Landmark Supreme Court tax case reaches 100
Argued a century ago, Eisner v. Macomber helped establish the treatment of dividends.

Accounting Today
Apr 15, 2019

Big Four consulting projects cost more than expected
Nearly three-quarters of Big Four consulting projects wind up costing more than U.S. companies anticipated, according to a new survey.

Accounting Today
Apr 15, 2019

Art of Accounting: You made it!?
I've heard from many colleagues that tax season was not good. Here are some things that could have prevented or mitigated the problems.

Accounting Today
Apr 15, 2019

Catching tax cheats with graph databases
This tax day, tax evasion has topped $400 billion dollars.

Accounting Today
Apr 15, 2019

Google's Ireland tax arrangement draws more EU scrutiny
The European Union has taken a closer look at how the search giant uses operations in Ireland to help reduce its corporate tax obligations.

Accounting Today
Apr 15, 2019

Democrat sets April 23 deadline for IRS to send Trump taxes
Citing an "unambiguous legal obligation," House Ways and Means Committee Chairman Richard Neal set the IRS a deadline of April 23 to hand over President Donald Trump's tax returns before potentially resorting to other legal options.

Accounting Today
Apr 15, 2019

Online tax filing on the rise, retail on the decline, data finds
Data from advertising company Exponential found that walk-in tax preparation is more popular with older generations, while young people are more likely to file their taxes online or with tax prep software.

Accounting Today
Apr 15, 2019

Kamala Harris releases tax returns, showing income topping $2M in 2018
The California lawmaker, one of 18 declared candidates for the 2020 Democratic presidential nomination, released 15 years' worth of returns.

Accounting Today
Apr 15, 2019

Key Democrat says he'll subpoena Trump records from accounting firm
House Oversight and Reform Committee Chairman Elijah Cummings said he'll subpoena documents on Monday from an accounting firm tied to President Donald Trump.

Accounting Today
Apr 15, 2019

Klobuchar releases tax return, showing more than $338K of income for 2018
The Minnesota senator who is seeking the 2020 presidential nomination has already released 12 years of returns dating back to 2006.

Accounting Today
Apr 15, 2019

Trump gave most Americans a tax cut and they didn't notice
Republicans passed a sweeping tax cut for two-thirds of Americans in 2017, saying it would pay for itself and the American public would thank them.

Accounting Today
Apr 12, 2019

Taxpayers at risk of getting scammed by preparers
Nearly half of Americans fail to check whether their tax preparer includes their PTIN and signs their return, putting them at risk of being scammed, according to a new survey.

Accounting Today
Apr 12, 2019

Tax preparers steered low-income taxpayers to extra-fee refund products, says GAO
Low-income and minority taxpayers were more likely to use extra-fee tax preparation offerings like refund advances and refund transfers, according to a new report Friday from the Government Accountability Office, and tax preparers often didn't present them with information about the fees ahead of time.

Accounting Today
Apr 12, 2019

Tax preparers tended to overcharge low-income taxpayers, says GAO
Low-income and minority taxpayers were more likely to use expensive tax preparation offerings like refund advances and refund transfers, according to a new report Friday from the Government Accountability Office, and tax preparers often didn't present them with information about the fees ahead of time.

Accounting Today
Apr 12, 2019

Firms on the move: Drucker & Scaccetti proclaims, 'Tax Day is coming!'
KPMG unveils Ignition Center in Chicago; Withum opens learning lab at the University of Central Florida; and more CPA news.

Accounting Today
Apr 12, 2019

People on the move: CAQ names new executive director
EisnerAmper and Dixon Hughes Goodman add principals; HHM CPAs hires four in Chattanooga office; and other recent hires, promotions and personnel news from firms across the country.

Accounting Today
Apr 12, 2019

JPMorgan Chase gives first look at CECL impact
The financial institution expects to increase reserves by about $5 billion for implementation of the current expected credit loss standard.

Accounting Today
Apr 12, 2019

Happy final Friday: IRS says millions have yet to file
Some 50 million taxpayers have not yet filed their tax returns.

Accounting Today
Apr 12, 2019

New millionaire Bernie Sanders prepares to reveal his income
The Democratic socialist who promotes policies to raise taxes on millionaires and billionaires plans to make public his federal tax returns by April 15.

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