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Introducing Access Denied: Systemic racism in financial services

Fri, 2020-10-23 17:30
This five-part series is a comprehensive effort to explain the racial discrimination Black Americans face in our financial system.
Categories: Accounting & Taxes

Grant Thornton wins appeal in fraud and negligence lawsuit

Fri, 2020-10-23 16:02
Grant Thornton has prevailed in an appeal by a former tax client who had sued after the firm failed to advise him of a tax strategy that potentially could have saved him over a million dollars and then allegedly tried to cover up the error.
Categories: Accounting & Taxes

IRS to resume sending balance-due notices despite pandemic

Fri, 2020-10-23 15:00
The Internal Revenue Service said Friday it would restart issuing its 500 series of balance-due notices to taxpayers later this month after they were paused on May 9 due to the COVID-19 pandemic.
Categories: Accounting & Taxes

Leaning in to community to grow and prosper

Fri, 2020-10-23 14:51
Accounting firm leaders need to raise their heads from their everyday work to learn from each other.
Categories: Accounting & Taxes

Lawmakers question IRS readiness for next tax season amid backlogs from coronavirus

Fri, 2020-10-23 14:22
The leaders of Congress’s main tax-writing committee are wondering if the Internal Revenue Service will be ready to handle next tax season as it’s still processing millions of pieces of correspondence that went unopened for months during the COVID-19 pandemic.
Categories: Accounting & Taxes

IRS backtracks on revoking charities’ tax-exempt status

Fri, 2020-10-23 13:56
The Internal Revenue Service is reversing course on the automatic revocation notices that it sent to more than 30,000 tax-exempt organizations.
Categories: Accounting & Taxes

AICPA names 2020 Gold Medal Award of Distinction recipients

Fri, 2020-10-23 11:45
The American Institute of CPAs has awarded Richard Caturano and Paul Stahlin the organization's highest honor.
Categories: Accounting & Taxes

Surviving the election with clients’ tax and estate plans intact

Fri, 2020-10-23 11:37
Add in the complexities of this year’s presidential race, and we have a recipe for uncertainty and fear.
Categories: Accounting & Taxes

People & firms on the move: Marks Paneth adds real estate partner

Fri, 2020-10-23 11:15
CalCPA develops “tax journey” collection of resources and virtual events; RKL names three practice line leaders; and more CPA news.
Categories: Accounting & Taxes

AIG settles foreign tax-credit suit for more than $400M

Fri, 2020-10-23 11:11
American International Group Inc. settled a case involving cross-border transactions the government claimed amounted to improper tax shelters.
Categories: Accounting & Taxes

Tech News: Corvee offers tax planning webinar for possible election outcomes, and more

Fri, 2020-10-23 05:00
Replicon's intelligent time tracking app is available for SAP, Mavenlink adds staffing module, and Compass Lending Platform rebrands as Javelin.
Categories: Accounting & Taxes

Mazars rebranding highlights global scope

Fri, 2020-10-23 00:27
The international firm aims to raise its profile with large, multinational clients.
Categories: Accounting & Taxes

IRS tightens settlement terms for micro-captive insurance schemes

Thu, 2020-10-22 17:07
The Internal Revenue Service is offering less generous settlement terms to participants in micro-captive insurance schemes as part of its clampdown on the transactions.
Categories: Accounting & Taxes

Tax Fraud Blotter: Refunds, rebates, remanded

Thu, 2020-10-22 17:05
Gone Pro’s; various ways to fraud; oxymoron; and other highlights of recent tax cases.
Categories: Accounting & Taxes

Jackson Hewitt to hire 22K for tax season

Thu, 2020-10-22 17:03
The tax prep chain will be participating in two National Hiring Weeks, starting Oct. 26 and Nov. 16.
Categories: Accounting & Taxes

KPMG re-elects Bill Thomas as global chair and CEO

Thu, 2020-10-22 16:34
The Big Four firm is opting for continuity in the midst of upheaval.
Categories: Accounting & Taxes

AAA decries interference in CECL standard under CARES Act

Thu, 2020-10-22 16:08
The American Accounting Association has issued a rare rebuke to Congress criticizing government interference in accounting standards.
Categories: Accounting & Taxes

When surrounded by risk, GRC automation can help

Thu, 2020-10-22 15:01
Within corporate environments, accountants are essential team members when it comes to governance, risk and compliance, especially during the pandemic.
Categories: Accounting & Taxes

IRS lets tax pros fax Form 8918 for material advisor disclosures

Thu, 2020-10-22 14:24
The Internal Revenue Service is now allowing tax advisors and taxpayers to fax the Form 8918, Material Advisor Disclosure Statement, as part of its response to the novel coronavirus pandemic.
Categories: Accounting & Taxes

IRS drafts instructions for Form 1065 partnership income reporting

Thu, 2020-10-22 13:00
The Internal Revenue Service released an early draft of the instructions with revised directions for how partnerships should report capital accounts and tax basis capital for partners on Schedule K-1.
Categories: Accounting & Taxes


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