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The new tax law is anticipated to have a big impact on mergers and acquisitions, according to a new survey by Deloitte. The firm recently polled more than 1,800 tax and MA professionals about the impact the new tax law will have on deal making. It found that only 14.1 percent of MA professionals believe […]
Two Democratic lawmakers have introduced legislation in the House and Senate aimed at ensuring multinational companies pay the same tax rate on profits earned abroad as they do in the U.S., to counter some of the effects they claim from the Tax Cuts and Jobs Act that Republicans passed last December. The bill, known as […]
He who must be named; what’s changing and what isn’t; spins of the Coin; and other highlights from our favorite tax bloggers. Extender exasperation Procedurally Taxing (http://procedurallytaxing.com): Today’s read: Tax lawyer Chuck Rettig and the Potential Goblet of Magic at the IRS. Tax Foundation (https://taxfoundation.org/blog): Golden’s One Word Dept.: How California’s corporate income tax rate […]
The American Institute of CPAs’ Accounting and Review Services Committee has voted to issue an omnibus update to the Statement on Standards for Accounting and Review Services after tax season. The AICPA said Monday that SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services—2018, will be issued in late May after busy […]
The Securities and Exchange Commission voted unanimously to approve guidance to encourage public companies to provide disclosures about cybersecurity incidents they encounter and the risks they face. The guidance offers the SEC’s views about public companies’ disclosure obligations under current law involving cybersecurity risk and incidents. It also discusses the importance of cybersecurity policies and […]
The Internal Revenue Service should be doing more on a joint initiative with the U.S. Department of Labor to combat misclassification of employees as independent contractors, according to a new report. The report, from the Treasury Inspector General for Tax Administration, evaluated the IRS’s progress in implementing a Joint Worker Misclassification Initiative with the Department […]
Teampay, a startup that provides a company expense management platform managed via a chatbot, launched Thursday with $4 million in seed funding. The chatbot works by allowing employees to request and receive money up front for expenses, as opposed to spending their own money and completing an expense report after the fact. Teampay allows companies […]
Intuit reported an increase in TurboTax sales in the early part of tax season, in contrast with preliminary data from the Internal Revenue Service on tax filings. The Mountain View, Calif.-based company reported sales through Feb. 17 of its consumer tax prep software Thursday, saying sales of total TurboTax units increased 1 percent versus the […]
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