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The private debt collection agencies that have contracted with the Internal Revenue Service to help collect overdue tax receivables have some security vulnerabilities, according to a new government report. The report, from the Treasury Inspector General for Tax Administration, examined security at the four collection agencies that have been hired by the IRS. A 2015 […]
With 15 new Securities and Exchange Commission audit clients in the second quarter of 2018, Deloitte had a commanding lead over both its large-firm competitors and the auditing field as a whole. (See “Q2 Client Gains Losses.”) Top 7 Firm BDO USA came in second for the quarter, with eight new clients (though it only […]
Crowe volunteers over 75,000 hours to mark firm’s 75th anniversary As part of a yearlong 75th anniversary celebration, Top 100 Firm Crowe (formerly Crowe Horwath) saw staff members volunteer 75,000-plus hours with nonprofit organizations to help mark the occasion. Crowe CEO Jim Powers challenged the firm to volunteer 75,000 hours in local communities, which doubled […]
This report will combine research and editorial expertise to identify the leading apps for the accounting software – and to show how accountants are making the best of them. Register to View
ADP has acquired Celergo, a provider of payroll management services in 150 countries. The acquisition is expected to improve ADP’s array of international payroll services with new cross-currency and expatriate payment services. ADP estimates the multi-country payroll outsourcing market to be over $3 billion today. The Roseland, N.J.-based payroll giant hopes to capitalize on the […]
The Trump administration dropped a two-year-old accounting probe into Exxon Mobil Corp.’s valuation of its reserves and public disclosures about climate change, while inquiries by two Democratic-led states continue. The U.S. Securities and Exchange Commission sent a letter Thursday to Exxon saying investigators concluded they wouldn’t recommend an enforcement action, the company said Friday. The […]
The International Federation of Accountants is changing the oversight and priorities of its International Accounting Education Standards Board, which sets standards for education and professional development of accountants. The IAESB operates with the support of IFAC, which has come under pressure recently from the Monitoring Board, a group of international securities and auditing regulators that […]
The Treasury Department and the Internal Revenue Service proposed regulations Friday to increase and expand the first-year depreciation deduction for qualified property from 50 to 100 percent, carrying out a provision of the Tax Cuts and Jobs Act. The tax code overhaul, which Congress passed last December, increased the first-year depreciation deduction from 50 to […]
The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law by President Obama in 2010 in the aftermath of the financial crisis of 2008. The act, which has many provisions over 2,300 pages, was drafted with the stated goal of promoting stability in the U.S. financial system. It was intended to be […]
The American Institute of CPAs said it supports new legislation that would regulate tax return preparers. Last week, Senators Rob Portman, R-Ohio, and Ben Cardin, D-Md., introduced bipartisan legislation to make the Internal Revenue Service more accountable to taxpayers, as well as revive the IRS’s regulation of tax preparers (see Senators introduce bill to make […]
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