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Increases in audit fees paid by public companies aren’t necessarily producing better audit quality, according to a new report. The study, conducted by Lili Sun, an associate professor of accounting at the University of North Texas, Michael Ettredge of the University of Kansas and Matthew Sherwood of the University of Massachusetts Amherst, examined audits of […]
Intuit has introduced updates to its Lacerte, ProSeries and ProConnect Tax Online products. Lacerte now offers a number of new e-filing types, along with 2D barcode tax returns, and 93 new forms have been added to the software, including Forms 8288-A and 8805. Additionally, address auto-filling based on zip codes is now available, which was […]
Tax breaks cherished by both the fossil fuel and renewable energy industries emerged unscathed in a tax plan unveiled in the U.S. Senate, according to details of the bill released Thursday evening by the chamber’s main tax writing committee. Republicans opted to leave tax subsidies for the energy industry almost entirely in place in their […]
Coinbase Inc. customers who haven’t reported their cryptocurrency gains to the Internal Revenue Service, beware. A federal judge is poised to allow a limited investigation into those gains to proceed over the company’s objection that the agency is on “a massive fishing expedition” meant to make itself look tough in the eyes of its critics […]
Each generation joins the workforce gradually as members come of working age and ultimately fades out of the workforce as members reach retirement age, but there is a time in the middle when each generation becomes the largest group in the workforce. For millennials, that time is now. In 2016, millennials became the largest generational […]
The Senate tax proposal released Thursday would restrict employees earning at least $500,000 from making so-called “catch-up” contributions to 401(k) workplace retirement plans. Almost all employers offering 401(k) plans allow eligible workers age 50 and over to make the additional contribution, which is $6,000 for 2017, on top of the standard $18,000 cap. Thirty-five percent […]
Big Four firm EY announced this month that it plans on hiring 14,200 candidates in the U.S. for fiscal year 2018 (FY18). This figure includes approximately 5,400 “experienced and executive level” candidates for full-time positions, as well as 8,800 students, split between 4,880 college graduates for full-time positions and 3,920 students for internships. Larry Nash, […]
Carr, Riggs Ingram, a Top 100 Firm that has mostly operated in the Southeast, is expanding to New Mexico and Texas by merging in RPC CPAs + Consultants, LLP, New Mexico’s largest CPA firm. The merger will add eight locations in New Mexico and Texas to CRI, along with 12 partners and approximately 50 staff […]
The Public Company Accounting Oversight Board is finding many of the same problems at auditing firms during its most recent inspections that it has admonished firms for in the past, according to a new report. The PCAOB published a staff inspection brief Friday offering a preview of the results of its 2016 inspections of firms […]
The Senate Republican tax proposal unveiled Thursday would cost $516 billion over a decade after assuming macroeconomic benefits as a result of the tax cuts, according to a new analysis Friday by the Tax Foundation, a right-of-center Washington think tank. The group found that the bill would cost $1.78 trillion in revenue over a decade. […]
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