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While 2020 was a year of crisis for many businesses, accountants found that their services came into sharper focus. In a remote world, outsourced accounting becomes easier to deliver to more clients; and in a world where businesses have been forced to temporarily close or shift their operations significantly in some way, accountants find themselves […]
Treasury Secretary Steven Mnuchin will put $455 billion in unspent CARES Act funding into an account that his presumed successor, former Federal Reserve Chair Janet Yellen, will soon need authorization from Congress to use. The money will be placed in the agency’s General Fund, a Treasury Department spokesperson said Tuesday. Most of it had gone […]
The International Integrated Reporting Council and the Sustainability Accounting Standards Board said Wednesday they intend to merge into a single organization to be called the Value Reporting Foundation by the middle of 2021. The unified group will give investors and corporations a comprehensive corporate reporting framework across the enterprise with standards aimed at improving global […]
The changes this pandemic has wrought don’t appear to be temporary, as we once imagined. It’s no longer a question of waiting this thing out and returning to yesteryear. That’s why I’m advising my clients to re-evaluate their growth strategies. Ambitious firms need to lean into the new reality and reconfigure their approaches. I understand […]
Ryan Irby was hired as a partner in the transaction advisory practice at Dixon Hughes Goodman, Dallas. Thomson Reuters, Dallas, announced the winners of its annual awards at the virtual Thomson Reuters Synergy user conference. The winners of the 2020 Luca Award for Tax and Accounting were, for Woman Trailblazer: Emily Fisher, Fisher PA; Community-Peer […]
Woodard Events announced that its signature Scaling New Heights conference will be held in Fort Worth, Texas, in 2021, on June 20-23. The theme of the 2021 event — whose 2020 edition wrapped up earlier this month in Orlando, Florida — will be “Unstoppable.” “Though the challenges facing accountants may seem daunting, they are not […]
On election night, Democratic campaign consultants may have been wondering, “Where did all these voters come from?” But unless the next Congress sets a legislative course over the next few months, Speaker of the House Nancy Pelosi may soon be wondering, “Where did all the voters go?” The incoming Biden administration will need to navigate […]
Intuit Inc., the software company behind TurboTax, won U.S. antitrust approval for its $7.1 billion takeover of personal finance website Credit Karma Inc. The Justice Department said Wednesday it was clearing the deal after Credit Karma agreed to sell its tax business to Square Inc. for $50 million to resolve government concerns over competition in […]
By this time of year, most CPA firms have a good handle on what their clients’ 2020 tax picture will look like. And with 2020 being what it is, the year-end meetings occurring this year have the opportunity to shed light on many issues well beyond the issue of tax planning. The reality of what […]
The Internal Revenue Service and the Treasury Department issued final regulations related to Section 1031 like-kind exchanges. The new regs address the definition of real property, as well as the receipt of personal property that is incidental to real property received in a like-kind exchange. “Real property” now includes land and, generally speaking, anything permanently […]
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