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Wipfli LLP, a Top 100 Firm based in Milwaukee, is looking ahead to future expansion, with growth partner Brian Blaha setting his sights on geographic areas and industries to target. In June, the firm named a new managing partner, Kurt Gresens, who took the reins from longtime leader Rick Dreher (see Wipfli names new managing […]
Mr. Unfreeze; Discount miscount; pity me, pity me; and other highlights of recent tax cases. Glendale, California: Former Wells Fargo branch manager Hakop Zakaryan, 34, has pleaded guilty to one felony count of bank fraud for using his position to help launder proceeds of a tax fraud and identity theft scheme. The scheme involved using […]
Workiva, which makes reporting and compliance software for accounting, finance, audit and internal controls, is partnering with FilePoint, a filing agent, to help registered investment companies file monthly N-PORT and annual N-CEN reports with the Securities and Exchange Commission. As cybersecurity and fraud become an increasing concern, with cybercrime on the rapid rise, best practices […]
The U.S. Department of Labor announced a final rule for overtime pay that it said would make 1.3 million American workers eligible for extra pay under the Fair Labor Standards Act. In the final rule that was announced Tuesday, the Labor Department is raising the “standard salary level” from the currently enforced level of $455 […]
The Internal Revenue Service issued new per diem rates Wednesday, Sept. 25, for business travelers to use for lodging, meals and incidental expenses, effective Oct. 1, 2019. Notice 2019-55 provides the annual update to the rates that taxpayers can use to substantiate the amount of expenses for lodging, meals, and incidental expenses when traveling away […]
The Internal Revenue Service is giving rental real estate owners a safe harbor to allow them to claim interests in property as a qualified business deduction. The IRS issued Revenue Procedure 2019-38 on Tuesday, finalizing a tax break under section 199A of the Tax Cuts and Jobs Act, giving owners of rental real estate the […]
International accounting groups convened in New York during Climate Week to address the risks of climate change and how to address it in corporate sustainability reporting, as the United Nations General Assembly met a few blocks away to address climate change and other pressing issues. The International Federation of Accountants and the Association of Chartered […]
Expanding the EITC; helping with ITINs; confusing nexus; and other highlights from our favorite tax bloggers. Vape fear Tax Foundation (https://taxfoundation.org/blog): How would-be Democratic presidential candidate and Colorado Senator Michael Bennet wants to expand the maximum Earned Income Tax Credit for childless workers from $529 to $3,000 to increase disposable income. Tax Girl (https://www.forbes.com/sites/kellyphillipserb/): Lisbon […]
The House voted to approve legislation to create a whistleblower program at the Public Company Accounting Oversight Board similar to the one at the Securities and Exchange Commission, offering whistleblower protection to accountants and auditors, and others who know of accounting fraud. The bill would protect whistleblowers with legitimate information that can lead to enforcement […]
Grant Thornton reported Monday , Sept. 23 that its U.S. firm achieved a record level of revenue in fiscal year 2019, surpassing $1.9 billion, a year-over-year increase of 5.4 percent. “We posted historic revenues last year — in part by doing what has always made us strong: delivering exceptional value to clients through high-quality audit, […]
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