Month: May 2017
H&R Block names interim CEO as Bill Cobb plans to retire
HR Block Inc. announced that general counsel and chief administrative officer Tom Gerke will take over as interim chief executive officer to replace Bill Cobb, who plans to step down in July. The biggest U.S. tax-preparation firm hired recruiters to help find a permanent replacement, Kansas City, Mo.-based HR Block said in a statement. Cobb, […]
Agility and internal audit? Yes, these two can and should go hand in hand
May is Internal Audit Awareness Month. On the off chance that didn’t make it onto your calendar, I’d like to make the case that rethinking internal audit’s potential is time well spent. While traditional internal assurance remains important, a modernized, agile internal audit function stands to add significant value to your organization. The pace of […]
IRS pilots new secure messaging program for correspondence examinations
The Internal Revenue Service is pilot testing a new program for conducting correspondence examinations of taxpayers using secure messaging technology that will also include their tax practitioners who have power of attorney. In an email to tax professionals Friday, the IRS said it plans to invite approximately 8,000 taxpayers who are undergoing correspondence examinations to […]
Tax Court: No MFJ status where spouse refused to sign
The Tax Court decided in favor of the Internal Revenue Service in a case involving a tax return in which a couple filed jointly, but one of the spouses was battling mental illness and didn’t sign the return. According to the Tax Court’s February memo on the case, Moss v. Commissioner, T.C. Memo 2017-30, Peter […]
House committee debates tax reform prospects
The House Ways and Means Committee held a hearing Thursday to examine how tax reform will grow the economy and create jobs, even as the turmoil surrounding the Trump administration threatened the prospects for the first comprehensive tax overhaul in more than three decades. House Ways and Means Committee chairman Kevin Brady, R-Texas, opened the […]
MACPA partners with IBM to train accountants in AI and data science
The Maryland Association of Certified Public Accountants (MACPA) and IBM have partnered to train accounting professionals in technology skills such as artificial intelligence (AI), big data and cognitive computing. The two organizations have agreed that IBM will provide an advanced cognitive and data skills platform to MACPA members to train them to quickly acquire data […]
Staying independent while keeping an eye on an upward combination
Your firm was knocking the cover off the ball pre-financial crisis (circa 2007 and 2008) with a strategy of getting bigger with quality growth, stronger with quality talent, and more profitable, but it is increasingly obvious that it has become difficult competing in today’s mid-market space. The business environment is anemic and organic growth is […]
Jeffrey Previdi appointed as GASB vice chairman
The Financial Accounting Foundation’s board of trustees has named Jeffrey Previdi, a current member of the Governmental Accounting Standards Board, as vice chairman of GASB. Before joining GASB, he spent more than two decades at Standard Poor’s Ratings Services. More recently he was managing director and project leader in SP’s risk program, where he spearheaded […]
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