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Republican leaders in Congress and the Trump administration released a joint statement Thursday on their progress on tax reform ahead of Congress’s August recess and the broad principles they plan to follow. The leaders have been meeting behind closed doors in recent months to discuss tax reform. The so-called “Big Six” include Treasury Secretary Steven […]
While accountants express the desire to generate a large share of firm revenue from providing advisory services, survey data has shown that many firms derive very little revenue from the types of value-added, consultative services that comprise advisory. Firms sometimes initially “test the waters” with advisory work, offering a handful of services using packaged advisory […]
The Villanova School of Business announced this week their new Master of Accounting with Data Analytics (MACDA) program, in which students will be able to take a more big data and analytics-based course starting Fall 2018. Villanova sought input from the Big Four accounting firms and others in their development of MACDA, which will look […]
The head of the National Treasury Employees Union, which represents Internal Revenue Service employees, is asking Congress not to cut the IRS budget again. The Senate Appropriations Subcommittee on Financial Services and General Government held a hearing Wednesday on the fiscal year 2018 Treasury Department budget. The administration’s budget calls for reducing IRS funding by […]
(Bloomberg) The Senate rejected a simple repeal of Obamacare on Wednesday, still in the early stages of an unpredictable floor debate on health care amid significant doubts that Republicans can muster the 50 votes needed to pass any kind of bill. GOP leaders are holding votes on a slew of different health proposals this week […]
The Internal Revenue Service held a meeting of its Security Summit partners Tuesday in Dallas and reported on progress in battling identity theft tied to tax refund fraud, along with some setbacks. The IRS said it has been seeing an increase in identity theft from business and partnership tax returns, fueled in part by cybercriminals […]
A company website can be a simple display of credentials, loaded with content and interactive functionality, or somewhere in between. For accounting firms, a business case can be made for any level of website complexity, but no matter how simple or complicated the site is, certain elements must be there. Without these four, a firm […]
In a deal the companies managed to keep quiet until finalized, U.K.-based Sage Group has bought Intacct for $850 million. Intacct will be known as Sage Intacct going forward. The acquisition combines two of the leading companies in cloud accounting and financial management software. Founded in 1981, Sage has an established presence in the United […]
The Tax Court has denied a claimed charitable deduction of $33,019,000 by RERI Holdings, whose principal investor is Miami Dolphins owner Stephen Ross. On its 2003 tax return, RERI Holdings claimed a charitable contribution deduction for the transfer of a noncash asset—a remainder interest in property—to the University of Michigan. RERI had paid $2.95 million […]
The Sarbanes-Oxley Act was signed into law on July 30, 2002 and has led to vast changes in the accounting profession, although not necessarily in corporate ethics. A recent survey by Deloitte found that more than half (52.4 percent) of C-suite and other executives said global corporate ethical behavior has improved since the enactment of […]
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