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NIFO? I know what you’re thinking. “Ugh. Yet another inventory accounting method I have to know.” But when I say “NIFO,” I’m not talking about Next In First Out. I’m talking about Nose In, Fingers Out. Where does NIFO come from? The term “NIFO” was originated by John Nash, founder of the National Association of […]
Whatever the eventual outcome of the presidential election, tax uncertainty is probably going to continue next year, especially with a divided Congress. A global tax survey released last month by BDO found that 80 percent of the business leaders surveyed by BDO in the Americas said the focus of tax legislation changes constantly as the […]
The International Public Sector Accounting Standards Board has deferred the effective dates of several of its upcoming standards and amendments to give government accountants around the world an extra year to implement them during the COVID-19 pandemic. On Friday, the IPSASB released a final pronouncement, COVID-19: Deferral of Effective Dates, postponing the effective dates of […]
What a steel; there go the judge; children’s books; and other highlights of recent tax cases. North Scituate, Rhode Island: Steven M. Allard, owner of two businesses that supply steel and iron to construction sites, has admitted that over two years he intentionally failed to turn over to the IRS more than $570,000 in employment […]
Growth in jobs and wages at small businesses slowed in October, according to payroll giant Paychex, although job growth in the South increased for the second month in a row, and wages are set to go up in Florida after voters passed a minimum wage ballot initiative in Tuesday’s election. Another payroll service provider, Gusto, […]
Top 100 Firm Aprio LLP has expanded to Nashville by merging in Tennessee-based WSW CPAs PLLC, effective Oct. 31. “The addition of WSW brings us to Nashville — the fastest growing city in the Southeast — and rounds out the Atlanta and Charlotte region for the firm,” said Aprio CEO and managing partner Richard Kopelman […]
Even as state and local officials worked overtime to count ballots in a few battleground states and finalize the presidential race, one result of the election seems fairly clear to tax experts: We shouldn’t expect much wide-ranging tax legislation coming out of Washington, D.C., in the near future. While a few congressional elections still need […]
The IRS is warning of a new text scam created by thieves that tricks people into disclosing bank account information under the guise of receiving the $1,200 Economic Impact Payment. The scam message states, “You have received a direct deposit of $1,200 from COVID-19 TREAS FUND. Further action is required to accept this payment into […]
Financial Accounting Standards Board Chairman Richard Jones had to deal with the coronavirus pandemic just as he was starting the transition with immediate past chair Russell Golden, and now he is facing the uncertainty of the presidential election and what Congress might do with accounting standards. “I actually got to join in March and I […]
The Association of International Certified Professional Accountants has announced that its annual Women’s Global Leadership Summit, which invites women in the accounting and finance profession to refine their skills and professional networks, will be held online this year on Nov. 11. Furthermore, the Women’s Global Leadership Summit Europe and US events will be held on […]
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