High Quality Work…Great Customer Service.
As an accounting professional in the midst of tax season, you probably feel locked into never-ending workdays with the constant pressure of meeting deadlines. New responsibilities come in constant waves with tasks of preparing ledgers, tending client appointments and performing audits — just to name a few. To achieve optimal productivity during this time of […]
The Internal Revenue Service said Friday that wrongfully incarcerated taxpayers will have some additional time to take advantage of a tax break that Congress recently approved. They can claim the retroactive exclusion from income for any civil damages, restitution or other monetary award received in connection with their incarcerations. Under the Bipartisan Budget Act of […]
The International Financial Reporting Standards Foundation has released a new IFRS Taxonomy for 2018, containing a number of updates since last year, while the Securities and Exchange Commission also updated its taxonomy. The IFRS Taxonomy contains the latest standards from the International Accounting Standards Board, which the IFRS Foundation oversees. The main new standard is […]
The Treasury Department issued a strongly worded statement Friday in response to a report from the Organization for Economic Cooperation and Development on taxation of the digital economy. “The U.S. firmly opposes proposals by any country to single out digital companies,” said Treasury Secretary Steven Mnuchin. “Some of these companies are among the greatest contributors […]
A new report from Sen. Ron Wyden, D-Ore., the ranking Democrat on the Senate Finance Committee, discusses how small businesses will face more uncertainty and complexity from the Republican tax law and will ultimately need help from their accountants to figure out the pass-through deduction. The report, “Tax Code and Small Business: Even More Bizarre […]
KPMG International has introduced two new cognitive solutions under its partnership with IBM. The solutions integrate IBM Watson artificial intelligence technology with the Big Four firm’s advisory and tax services. The KPMG Contract Abstraction Tool addresses lease accounting, automating the extraction of lease contract data. The solution, which applies IBM Watson Explorer, a cognitive exploration […]
Scheming from coffee shops; disbarred and behind bars; AOTC on 3,000 returns; and other highlights of recent tax cases. Waterbury, Conn: Preparer Michael Mir, 41, has waived his right to be indicted and pleaded guilty to a federal tax offense. According to court documents and statements in court, Mir prepared more than 3,300 federal returns […]
The U.S. Chamber of Commerce is asking the Internal Revenue Service for more guidance on the Tax Cuts and Jobs Act, asking for language specifying how qualified business income and limitations on business interest should be defined, among other matters. The Chamber, which is one of the most powerful business lobbies in the country, first […]
The American Institute of CPAs’ Auditing Standards Board has issued an auditing interpretation to help accountants comply with standards from both the AICPA and the Public Company Accounting Oversight Board. Photo: AICPA Auditing interpretation No. 4, “Reporting on Audits Conducted in Accordance With Auditing Standards Generally Accepted in the U.S. and the Standards of the […]
Some employees just aren’t that into you. In fact, according to Gallup News polls, employee engagement has been flat since 2000, and only 32 percent of U.S. workers were considered engaged in their jobs in 2015. So how do you create an environment where people want to come to work and actively help you achieve […]
Powered by WordPress. AwesomeOne theme by Flythemes