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The frenzied pace of CPA firm mergers and acquisitions has not slowed down one bit. We continue to witness a perfect storm caused in part by clients that continue to experience slow growth, if any. They aren’t in need of CPA services beyond the basic compliance services. Net profits per partner continue to be not […]
Financial professionals in the Americas and Europe are generally making as much or slightly more than last year, particularly those with certifications, according to a new survey by the Institute of Management Accountants. The IMA’s annual global salary survey not surprisingly found the most significant increases for people who have the Certified Management Accountant certification. […]
CPAs are seeing more demand for wealth management and financial planning advice with the passage of the new tax law. “Generally speaking the tax law changes have created even more conversations between financial advisors and their clients about what it might mean to their saving and investment plans, and what it might mean to their […]
Big Four firm KPMG announced on Friday that it will donate over 100,000 new books to children across the country as part of the “Read to Achieve” initiative in partnership with nonprofit First Book, including the donation of the four millionth book by its “Family for Literacy”program, which is now in its 10th year. Starting […]
The International Federation of Accountants announced that it has selected former CPA Canada president and CEO Kevin Dancey as its next CEO. Dancey will join IFAC in May of this year, and succeed current CEO Fayezul Choudhury when his term finishes at the end of the year. Dancey brings extensive experience to the role, having […]
The Internal Revenue Service’s announcement that it plans to issue regulations clarifying the limitations on carried interest serves notice to hedge funds that have been making moves to take advantage of a seeming loophole in the new tax law. The IRS announced Thursday that S corporations are subject to a three-year holding period for partnership […]
The Internal Revenue Service is still unable to verify claims for refundable tax credits such as the Earned Income Tax Credit before sending out tax refunds, despite legislation in 2015 giving it more time to double-check such claims, according to a new government report. The report, from the Treasury Inspector General for Tax Administration, pointed […]
Top 100 Firm Armanino LLP announced that managing partner Andy Armanino will retire at the end of 2018, with the firm’s current chief operating officer, Matt Armanino, taking the helm on Jan. 1, 2019. Andy Armanino joined the San Ramon, Calif.-based firm in 1989, and has been MP since 2005, growing its revenues tenfold to […]
Status guilty; felony charges dropped against New York CPA; sales fails; and other highlights of recent tax cases. West Palm Beach, Fla.: Preparer Manuel Antonio Severino, 44, has been found guilty of 13 counts of aiding and assisting in the preparation of false returns, two counts of wire fraud and two counts of aggravated ID […]
The Internal Revenue Service released the updated withholding calculator and Form W-4 that it had promised for the new tax law to help taxpayers make sure they have the proper amount of taxes taken out of their paychecks. The IRS is urging taxpayers to use both tools to check on their withholding. “Following the major […]
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