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The Internal Revenue Service, which faced many of the same difficulties that practitioners and taxpayers dealt with during the coronavirus pandemic, has gradually been ramping up its work through its offices across the country. They are now refocusing their efforts in a variety of areas, according to Stephen Mankowski, CPA, a past president and current […]
The National Association of State Boards of Accountancy’s board of directors voted unanimously to approve a set of proposed amendments to the Uniform Accountancy Act model rules for education, paving the way for major changes in the way CPAs are educated for the accounting profession. NASBA has been working with the American Institute of CPAs […]
FinancialForce has extended its revenue and cash flow forecasting features in the Fall 2020 release of its enterprise resource planning and professional services automation software. The San Francisco-based company leverages technology from Salesforce to power its cloud-based software. New features announced Tuesday in the professional services automation system include a services revenue forecasting dashboard for […]
The American Institute of CPAs has announced the 29 graduates of its 2020 AICPA Leadership Academy, held virtually for the first time this year. The AICPA Leadership Academy offers young CPAs a hands-on learning workshop with topics ranging from leadership training to professional networking. This year’s featured speakers included AICPA chair Tracy Golden; AICPA executive […]
PricewaterhouseCoopers is teaming up with the Sustainability Accounting Standards Board on translating its standards into Extensible Business Reporting Language, while also rolling out its own ESG Pulse application for environmental, social and governance reporting at companies. PwC has been working on these initiatives in the midst of the COVID-19 pandemic. “Fortunately we’ve been able to […]
Victims of disasters that occurred earlier this fall now have more time to file various federal individual and business tax returns and make tax payments. To victims of Hurricane Delta, the IRS is offering relief to any area designated by the Federal Emergency Management Agency as qualifying for assistance. Currently this includes Acadia, Calcasieu, Cameron, […]
Three defaults and you’re out; scheme of several years; misstep by misstep; and other highlights of recent tax cases. North Brunswick, New Jersey: Preparer Juan Solano, 46, has been sentenced to a year and a day in prison for income tax evasion. Solano was the owner of JC Solano Tax Service; during 2016 he reported […]
Troubled commodities trader GP Global Group has “accounting irregularities” in its books, according to the restructuring adviser hired to salvage the company’s assets. In a presentation seen by Bloomberg News, FTI Consulting warned that unsecured lenders in the holding company for the group could expect to recover between 0 percent and 27.5 percent of their […]
Robert T. Brockman, a Houston software tycoon, was charged with using a web of Caribbean entities to hide $2 billion in income in what prosecutors called the largest U.S. tax case ever against an individual. Brockman, 79, used a family charitable trust based in Bermuda and other offshore entities to hide assets from the Internal […]
No one was prepared to have all their auditors and clients working from home. When the pandemic first hit this spring, we all had to improvise and do the best we could with the hand we’d been dealt. Somehow, we made it through the summer busy season, worn out but proud of what our teams […]
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