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The American Institute of CPAs has released a new guide to data analytics to familiarize CPAs with the technology. The Guide to Audit Data Analytics offers an overview of data analytic techniques to help auditors apply the technology to their audit engagements. The guide discusses how audit data analytics can help improved understanding of an […]
All day Wednesday, details emerged of the compromises reached by the congressional conference committee between the House and Senate tax reform bills, including what are apparently their final positions on a number of issues that had been considered major sticking points going into conference. Here are some of the highlights of what’s expected to be […]
For accountants and tax professionals who have been waiting all year for some certainty on tax reform — and whose clients have been badgering them for direction and planning advice — Wednesday’s revelations about the compromises reached between the House and Senate reform proposals may offer some much-needed clarity. While the final bill is not […]
Many American businesses are organized as pass-through entities. These companies account for roughly 30 million entities or 90 percent of all enterprises in the United States. The business income of the owners of such firms operating as sole proprietorships, partnerships and S corporations are currently taxed at individual taxpayer rates. Lawmakers are hard at work […]
President Donald Trump plans to make what his staff members called a “closing argument” for tax-overhaul legislation Wednesday as congressional Republicans consider last-minute revisions to key provisions. Here are the latest developments, updated throughout the day: GOP Eyes Cut for Top End, 21% Corporate Rate Million-dollar earners would get a bigger tax break, and corporations […]
President Donald Trump will bring five American families to the White House to show how they would benefit from his tax overhaul Wednesday in a speech aides said would amount to a closing argument for the legislation. Despite strong support for the tax overhaul among Republican lawmakers, polls show the plan is unpopular with Americans […]
Starting Monday, Dec. 10, all users of the IRS’s e-Services platform must register through a new ID-proofing process called Secure Access. Any e-Services user who has not previously created a Secure Access account through Get Transcript Online, IP PIN tool, View Balance or by exception processing must validate their identity through this process. This also […]
CliftonLarsonAllen LLP, a Top 100 Firm, is adding NSBN LLP, a Regional Leader, effective Jan. 1, 2018, expanding CLA’s presence in Los Angeles. Financial terms of the deal were not disclosed. CLA ranked 9th on Accounting Today’s 2017 list of the Top 100 Firms. CLA had $850 million in annual revenue, while NSBN had $18.5 […]
KPMG has resigned as Liberty Tax’s independent accounting firm amid the continuing fallout over Liberty founder John Hewitt. Hewitt, who had earlier founded Jackson Hewitt, was ousted as CEO in September by the Liberty Tax board. An outside law firm found credible evidence that Hewitt was having romantic relationships with some of the Virginia Beach, […]
Steinhoff International Holdings NV bonds extended losses after Moody’s Investors Service slashed the credit rating to junk in the wake of an accounting scandal that’s threatening the survival of the global furniture and clothing retailer. Moody’s cut its rating by four notches late on Thursday, highlighting “the uncertainties and implications for the company’s liquidity and […]
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