People & firms on the move: KPMG names Houston office managing principal
SobelCo appoints first COO; Plante Moran adds 25 partners; and more CPA news.
Month: August 2020
Biden lays out vision in convention speech, including tax changes
Democratic presidential nominee Joe Biden described his vision if he wins election against Donald Trump in November, expressing optimism and hope about overcoming the coronavirus, the economic crisis, climate change, racial divisions and other challenges during his acceptance speech at the virtual Democratic National Convention. Speaking from a stage in Wilmington, Delaware on Thursday night, […]
IRS urged to stop sending notices for unpaid taxes until it catches up on mail backlog
Rep. Richard Neal, D-Massachusetts, who chairs the tax-writing House Ways and Means Committee, is asking the Internal Revenue Service to quit mailing notices for unpaid taxes to taxpayers who may have been affected by the mail backlog at the agency due to the COVID-19 pandemic. Many taxpayers have been receiving balance-due notices from the IRS […]
U.S. ends pacts with Hong Kong on extradition, shipping tax
The U.S. suspended its extradition treaty with Hong Kong and ended reciprocal tax treatment on shipping with the former British colony, the latest salvo in escalating tensions between Washington and Beijing. The moves are part of the Trump administration’s efforts to pressure China over the imposition of a national security law that has led to […]
The key to value pricing: Redefining value for clients
More accounting firms than ever are branching out, expanding beyond traditional tax and compliance services into things like advisory services to meet the expanding expectations of their clients and to position themselves as trusted advisors. Providing more services means clients are getting a better experience. Recognizing this increased value and client experience, many firms are […]
Business groups warn of ‘substantial tax liability’ from payroll tax deferral
The U.S. Chamber of Commerce and over 30 business and trade organizations sounded the alarm in a letter Tuesday to congressional leaders and Treasury Secretary Steven Mnuchin warning them about the impact of President Trump’s memorandum deferring employee payroll taxes through the end of year, saying it would end up making employees owe a “substantial […]
Corporate sustainability reporting is growing up
Sustainability reporting is quickly going mainstream. While companies aren’t always required by regulators to report their greenhouse gas emissions, human rights records and wastewater management, investors are pushing them for this information at a faster clip. Part of the issue is that global investors are under pressure from governments and asset owners themselves to report […]
Wirecard echoes in Austrian bank fraud raise awkward questions
Austria has experienced plenty of scandalous bank failures in the past decade, not least at Hypo Alpe Adria, the house lender of the late Freedom Party leader Joerg Haider. Yet the fraud that brought down tiny Commerzialbank Mattersburg im Burgenland AG raises questions for financial regulators and auditors that have uncomfortable echoes of the Wirecard […]
Employers wait for guidance on payroll tax deferral
In what amounted to an end run around Congress, President Trump signed a series of executive memorandums and an executive order on Aug. 8, 2020, to address issues left unresolved by the congressional failure to agree on additional bipartisan stimulus legislation. “It’s actually a memorandum rather than an executive order,” observed Mark Luscombe, CPA, principal […]
Powered by WordPress. AwesomeOne theme by Flythemes