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Large digital companies operating in the European Union, such as Alphabet Inc. and Twitter Inc., could face a 3 percent tax on their gross revenue based on users’ locations, according to a plan by the European Commission. The proposal by the EU’s executive arm outlines how a targeted levy on sales would increase the tax […]
Congressional Republicans missed another target to unveil a $1.3 trillion spending bill, as talks continued early Wednesday with just days remaining for House and Senate votes to avert a third government shutdown this year. Lawmakers had hoped to announce a bill by the end of the day Tuesday, but disagreements persisted over immigration, border security, […]
Most companies are still unprepared to adopt the new lease accounting standard, according to a new survey by Deloitte, and don’t believe the Financial Accounting Standards Board’s recent efforts to make implementation easier will save them any time or effort as they work on complying with the new rules. Only 21.2 percent of finance, accounting […]
Three Merrill Lynch insiders will get more than $83 million from the U.S. Securities and Exchange Commission — the biggest-ever payouts — for providing information that helped the agency bring a 2016 case against Bank of America Corp., their attorney said Monday. Two of the people will split $50 million and a third will get […]
Oracle Corp. tumbled the most in more than six years after forecasting slowing sales growth in cloud-related products, fueling concern that the company is struggling in efforts to shift away from traditional software and become a powerhouse in programs delivered over the internet. Bloomberg The stock was hit with downgrades from a number of analysts […]
Institute of Internal Auditors president and CEO Richard Chambers talks about how audit executives need to be more agile and overcome complacency at their organizations by using technology such as data analytics and artificial intelligence.
President Donald Trump’s new tax law set off a false alarm for homeowners planning to borrow against the equity in their houses. The legislation signed by Trump in December appeared to eliminate the deduction taxpayers get for the interest owed on home-equity loans, spooking the home remodeling industry whose customers often rely on the loans […]
Never before have the fundamental assumptions about the U.S. job market looked so precarious. Automation, artificial intelligence, and robotics, among other technologies, are changing the skills and the skill level required of employees in many industries, including retail, transportation, and manufacturing. The accounting profession is experiencing similar changes, and the pace and pressure of that […]
Tax prep software maker TaxAct has partnered with Everlance, which has developed an app to help independent workers and small businesses automatically track mileage and expenses. The partnership aims to help tax professionals complement their offerings for contractors and the self-employed with the Everlance app. Through this partnership, Everlance is available to tax professionals who […]
You have two choices when things go wrong at your firm: Spend time defending yourself or spend time solving the problem. Attacking a colleague for making a mistake discourages learning, poisons your culture and ultimately hurts your clients. Make your organization a learning organization based on trust and transparency. I was flipping through the AICPA’s […]
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