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Accounting & Taxes

IIA offers new framework for internal audit competency

Accounting Today - Wed, 2020-10-07 15:59
The Institute of Internal Auditors has introduced a new framework for the professional development of internal auditors.
Categories: Accounting & Taxes

Studies question need for auditor rotation

Accounting Today - Wed, 2020-10-07 15:30
A pair of academic studies casts doubt on the value of mandatory rotation of auditing firms and lead engagement partners.
Categories: Accounting & Taxes

AICPA, IESBA and IAASB offer guidance on use of specialists amid coronavirus

Accounting Today - Wed, 2020-10-07 14:19
The document discusses some considerations involving the use of specialists when auditing financial statements during the pandemic.
Categories: Accounting & Taxes

With Oct. 15 looming, some practitioners face daunting challenges

AICPA Tax Advisor - Wed, 2020-10-07 13:58
Tax practitioners have expressed concerns that they will not be able to meet upcoming Oct. 15 tax filing deadline for a variety of reasons related to the global pandemic.
Categories: Accounting & Taxes

A short guide to IRS transcripts

Accounting Today - Wed, 2020-10-07 12:16
While transcripts are notorious for being complex, they can be incredibly helpful in the hands of tax professionals who know how to use them.
Categories: Accounting & Taxes

Paying for the pandemic: Are increased taxes the answer?

Accounting Today - Wed, 2020-10-07 11:34
Conversations have already started about how the increased government expenditures to support citizens during the pandemic will be funded. But resisting the urge to increase taxes may be the best way to support economic growth.
Categories: Accounting & Taxes

Trump loses effort in appeals court to block Vance tax subpoena

Accounting Today - Wed, 2020-10-07 10:37
A federal appeals panel rejected President Donald Trump’s latest bid to block the Manhattan district attorney from getting his tax filings and other financial records.
Categories: Accounting & Taxes

GE warns of likely SEC action in probe of insurance reserves

Accounting Today - Wed, 2020-10-07 10:30
General Electric Co. warned that it’s likely to face Securities and Exchange Commission allegations of accounting misdeeds, setting back CEO Larry Culp’s effort to put the company’s rocky past behind it.
Categories: Accounting & Taxes

In the blogs: Time to panic

Accounting Today - Tue, 2020-10-06 20:56
Field audits down; streamlining taxes for social policies; bad-date boondoggle; and other highlights from our favorite tax bloggers.
Categories: Accounting & Taxes

Recognizing Income in 2020 Is a Good Thing?

J K Lasser - Tue, 2020-10-06 17:15
It has long been solid general tax advice to defer income so that it becomes taxed in a future year. However, 2020 is a year like no other and standard tax advice does not apply to all individuals. If your income for 2020 is low because of a furlough, job loss, or reduced earnings, you [...]
Categories: Accounting & Taxes

BDO adds Quantum Global Advisors

Accounting Today - Tue, 2020-10-06 16:20
BDO USA is merging in Quantum Global Advisors LLC, a Chicago-based international insurance claim and valuation consulting practice, in a deal that’s expected to close Oct. 16.
Categories: Accounting & Taxes

Draper Goren Holm debuts $25M fund for fintech-blockchain startups

Accounting Today - Tue, 2020-10-06 15:19
The fund is ready to provide Seed and Series A funding immediately.
Categories: Accounting & Taxes

Accountants more upbeat globally in Q3 despite coronavirus

Accounting Today - Tue, 2020-10-06 15:16
Global confidence improved significantly in the third quarter of the year among accountants.
Categories: Accounting & Taxes

Expensify introduces free vendor bill-pay

Accounting Today - Tue, 2020-10-06 14:57
Vendors can send their invoices to an email address, where Expensify will automatically scan them, present them to the business for approval, and then cut the vendor a check automatically from the user’s business bank account.
Categories: Accounting & Taxes

Nonfilers have until Nov. 21 to apply for economic impact payment

AICPA Tax Advisor - Tue, 2020-10-06 13:46
The IRS announced that it was extending the deadline from Oct. 15 to Nov. 21 at midnight for certain individuals to enter their information on the Non-Filers: Enter Payment Info Here tool on the IRS website to receive the $1,200 stimulus payment due to individual taxpayers.
Categories: Accounting & Taxes

Deadline to register for stimulus payments extended

Accounting Today - Tue, 2020-10-06 12:38
Individuals who haven’t received their EIPs now have until Nov. 21.
Categories: Accounting & Taxes

Overcoming unconscious bias to create a more inclusive firm

Accounting Today - Tue, 2020-10-06 12:12
When a firm’s leadership is composed of people who look the same and share similar life experience, those outside that group have a much harder time breaking barriers to move up in an organization.
Categories: Accounting & Taxes

NJCPA announces 2021 student scholarships

Accounting Today - Tue, 2020-10-06 11:48
The New Jersey Society of CPAs is awarding one-year scholarships to college-bound high school seniors as well as local college students majoring in accounting.
Categories: Accounting & Taxes

Changes are coming: Preparing for the tax operations storm

Accounting Today - Tue, 2020-10-06 11:45
The recent announcement of potential financial transaction taxes in New York and New Jersey alongside new regulations represent a growing operational challenge.
Categories: Accounting & Taxes

The unemployed trader who became a $700M Cum-Ex tax exile

Accounting Today - Tue, 2020-10-06 11:09
German lawmakers have called it the greatest tax heist in history.
Categories: Accounting & Taxes


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