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The Securities and Exchange Commission awarded a record more than $114 million to a whistleblower that helped lead to the successful enforcement of SEC and related actions. The award — comprised of an approximately $52 million award in connection with the SEC case and about $62 million resulting from related actions by another agency — […]
Taxes on the ballot; dressing out of the office; lowering penalties; and other highlights from our favorite tax bloggers. That time of year Taxjar (http://blog.taxjar.com/): How candy is taxed in various states. Boyum Barenscheer (https://myboyum.com/blog/): Ghost stories can be fun. Ghost employees can be fraud trouble for employers. A look at these scary schemes. Don’t […]
CFOs and senior finance executives are dealing with a growing number of responsibilities and demands as a result of the novel coronavirus pandemic, according to a new report. The report, from consulting firm Protiviti, found that the pandemic has been a wake-up call to finance departments that weren’t already investing, or weren’t investing enough, in […]
The Internal Revenue Service issued its annual inflation adjustments Monday for tax year 2021, revising more than 60 tax provisions, including tax rate schedules, standard deduction amounts and more. The standard deduction for married couples filing jointly for tax year 2021 is increasing to $25,100, up $300 from the previous year. For single taxpayers and […]
Corvee, which recently rebranded from AccountingTax.com, has released a new tax planning software billed as able to help accountants plan proactively and strategically for their clients.Corvee Tax Planning works by scanning clients’ tax returns, collecting information via custom individual and business questionnaires, enabling tax professionals to analyze estimated tax savings across multiple entities and multiple […]
CalCPA develops “tax journey” collection of resources and virtual events; RKL names three practice line leaders; and more CPA news.
The ever-changing landscape of giving advice has never been so dicey as this year. Perhaps the economic global growth environment we enjoyed in the past decade lulled us all into a sense of complacency. What could go so wrong that we’d be struggling to survive so early into the new decade? It’s against this challenging […]
The American Institute of CPAs has named Richard Caturano and Paul Stahlin as the 2020 recipients of its AICPA Gold Medal Award of Distinction. The highest honor granted by the AICPA, the Gold Medal Award, since its inception in 1944, has recognized CPAs who have notable influence on the accounting profession. Jack Finning, chair of […]
The Internal Revenue Service is reversing course on the automatic revocation notices that it sent to more than 30,000 tax-exempt organizations, including over 28,000 charities, after an outcry from a group of lawmakers on the tax-writing House Ways and Means Committee. The agency issued a statement Thursday saying that it would review the cases and […]
The leaders of Congress’s main tax-writing committee are wondering if the Internal Revenue Service will be ready to handle next tax season as it’s still processing millions of pieces of correspondence that went unopened for months during the COVID-19 pandemic. House Ways and Means Committee chairman Richard Neal, D-Massachusetts, and Oversight Subcommittee chairman Bill Pascrell, […]
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