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The Association of Chartered Certified Accountants has named Mark Millar, the former head of a hospice in the United Kingdom, as its new president. Mark Millar, from Suffolk, England, was appointed as the leader of the international accounting organization at the ACCA’s Annual General Meeting, which was held entirely online for the first time ever […]
Taxpayers around the world lose at least $427 billion each year to individual tax evasion and multinational corporate profit-shifting, which undercuts public funding for a COVID-19 response, according to a new report. The report, released Friday by the advocacy group Tax Justice Network, in collaboration with Public Services International, the Global Alliance for Tax Justice […]
The American Institute of CPAs is firing back after a congressional hearing Friday featuring Internal Revenue Service commissioner Charles Rettig in which he took issue with a recent letter from the AICPA on the subject of penalty relief for taxpayers dealing with the novel coronavirus pandemic. During a House Ways and Means Oversight Subcommittee hearing, […]
Intuit has introduced HubSpot for QuickBooks, an integration between QuickBooks Online and the customer relationship management software. The COVID-19 pandemic has elevated the importance of high-level customer communication, which makes this offering particularly timely. Currently, the offering is available only to QuickBooks Online Advanced users. Intuit plans to continue to collaborate with HubSpot on solutions […]
The Internal Revenue Service reminded taxpayers Thursday that they only have until Nov. 21 at 3 p.m. Eastern Time to register for an Economic Impact Payment of $1,200 or more. The payments were included as part of the CARES Act that Congress passed in March to provide relief amid the COVID-19 pandemic. They provide $1,200 […]
Drug money; Phoenix descending; stepping down; and other highlights of recent tax cases. Las Vegas, New Mexico: Preparer Carlos Perea, 44, has pleaded guilty to two counts of aiding and abetting the preparation of false income tax returns. Perea owned and operated Perea Fast Tax, where he prepared income tax returns for clients and filed […]
Employees working from home during the coronavirus pandemic claimed some outlandish expenses this year, including pricey exercise bikes, facelifts and private jets. Emburse, an expense management software company, released a compilation Wednesday of some of the craziest expenses it has seen claimed this year, some of which were actually approved. That included $1,895, which was […]
Nearly one-third of companies are reducing their overall real estate footprint as a result of the COVID-19 pandemic, with 31 percent of companies renegotiating leases for more favorable terms, according to a new report. The report, released Tuesday by LeaseQuery, a provider of lease-accounting software, found that finance leaders cited exit clauses (35 percent) and […]
The novel coronavirus pandemic is throwing a monkey wrench into plans for the Internal Revenue Service to reorganize itself to provide better taxpayer service, as mandated by the Taxpayer First Act that Congress passed last year. A new report released Wednesday by the Government Accountability Office found that so far the IRS’s planning has only […]
Accountants and tax professionals have played a critical role in keeping the economy going since the beginning of the COVID-19 pandemic, according to Thomson Reuters’ Charlotte Rushton, and those who were focused primarily on advisory services were in a better position that most. “The last eight months have shown that the shift to advisory in […]
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