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BPM LLP, a Top 100 Firm based in San Francisco, has expanded in the Seattle area by adding CPA Consulting, a firm based in Bellevue, Washington. CPA Consulting was founded in 1997 and works with clients throughout western Washington, Hawaii and Alaska. After the merger, its 10-person team will continue to work out of its […]
The American Institute of CPAs’ Financial Reporting Executive Committee is offering some draft guidance on various issues related to the implementation of the new credit losses standard. The standard is also known as CECL because it uses a Current Expected Credit Loss model for estimating the allowances for expected losses over the life of a […]
The American Institute of CPAs recognized three academics for exemplary teaching and research contributions during the annual American Accounting Association meeting, held this week in San Francisco. Stephen Moehrle, a professor at the University of Missouri-St. Louis, is the recipient of the 2019 AICPA Distinguished Achievement in Accounting Education Award. Panos Patatoukas and Yaniv Konchitchki, […]
A series of budget cuts at the Internal Revenue Service has led to an estimated $34.3 billion in lost tax revenue from large companies, according to a new study. New research from the Indiana University Kelley School of Business backs up previous statistics indicating that the IRS is auditing fewer tax returns from corporations because […]
It is a question that always arises in the wake of any high-profile fraud: How could this have happened? Too often, responsibility for fraud is passed along like a hot potato among members of the management team, outside consultants and the board. Ultimately, senior management has the responsibility to detect and prevent fraud. Unfortunately, according […]
The Internal Revenue Service said Wednesday it would automatically waive the estimated tax penalty for over 400,000 eligible taxpayers who have already filed their 2018 federal income tax returns but didn’t claim the waiver. Earlier this year, in response to complaints from taxpayers who discovered they hadn’t withheld enough from their paychecks last year after […]
Few ideas in the last decade have provoked as much excitement — or as much misinformation — as the introduction of artificial intelligence in tax and accounting. Starting around 2015, the business world became captivated with the technology, drawn in by headlines that ran the gamut of emotion from hype (HR Block is Using AI […]
Todd and Julie Chrisley, the stars of the reality TV series “Chrisley Knows Best,” were indicted by a federal grand jury in Atlanta on charges of tax evasion, bank fraud, wire fraud and conspiracy, while their accountant Peter Tarantino was also indicted on tax-related charges Tuesday. Their show, which revolves around the lives of Todd […]
Meat could be a target for higher taxes given criticism of the industry’s role in climate change, deforestation and animal cruelty, according to a report by Fitch Solutions Macro Research. The idea is still in its infancy and faces a lot of opposition from farming groups, but it’s emerging as a trend in Western Europe, […]
Accountants are delving into the complexities of digital currencies such as Bitcoin and Ethereum to help their clients keep track of cryptocurrency assets and transactions, as well as the tax consequences, according to a new report. The survey was conducted by Blox, a crypto accounting platform, polling a group of tax and law professionals about […]
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