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The Internal Revenue Service has approved a seven-day extension for 990, 1120 and 1065 filings that were affected by last week’s outage of Wolters Kluwer’s CCH software. According to a notice emailed by Wolters Kluwer to customers on Friday, affected filers now have until May 22 to file. Filings that follow the IRS’s instructions won’t […]
Dutch company Wolters Kluwer NV makes the software on which many of the world’s small and mid-sized accounting firms run. Earlier this week, a cyberattack took down that software and presented a case study in how not to communicate with customers over a hack. The company told its followers on Facebook and Twitter on May […]
PKF O’Connor Davies, a Top 100 Firm based in New York, has added Hodulik and Morrison, a firm in Highland Park, New Jersey, that specializes in audit services for the public sector. Hodulik and Morrison will expand PKF O’Connor Davies’ Public Sector practice, but will operate as a division of the firm. The deal represents […]
Tannen Maury/Bloomberg News KPMG, New York, announced that Villanova School of Business and the University of Southern California Leventhal School of Accounting have expanded their offering in the KPMG master of accounting with data and analytics program to include a tax concentration for the 2020-21 academic year. The universities join the University of Mississippi’s Patterson […]
Big Four firm Deloitte has upgraded 990Capture, its online data collection tool with reporting capabilities for nonprofit and tax-exempt organizations. The software can enable and disable topics, subtopics, and questions based on their applicability to nonprofit organizations, aimed at reducing errors and rework. Brent Lewin/Bloomberg 990Capture allows multiple users to access the tool simultaneously, from […]
The Internal Revenue Service has issued final regulations upping user fees on enrolled agents and enrolled retirement plan agents. Bloomberg The final regulations remove an initial enrollment user fee the IRS had planned to levy on enrolled retirement plan agents because the IRS said it no longer offers initial enrollment as an enrolled retirement plan […]
Financial reporting is key to the way financial markets operate, and is essential to maintain investor trust. This is why the Securities and Exchange Commission requires the filing of quarterly financial statements by all listed companies. The timeliness with which investors have access to meaningful, reliable information is important to investors who have to make […]
Big Four firm KPMG has announced that the Villanova School of Business and the University of Southern California’s Leventhal School of Accounting have added a tax concentration to their KPMG Master of Accounting with Data and Analytics Program, effective for the 2020-21 academic year. The schools join the University of Mississippi’s Patterson School of Accountancy […]
House Democrats issued two subpoenas to compel Treasury Secretary Steven Mnuchin and IRS Commissioner Chuck Rettig to release President Donald Trump’s tax returns, House Ways and Means Chairman Richard Neal said. The move is Neal’s latest attempt to obtain six years of the president’s personal and business tax information after Mnuchin rejected his initial request […]
Various EFINs; Mr. Plow; toothsome; and other highlights of recent tax cases. Phoenix: Preparer Maurice L. Smith has pleaded guilty to aiding and assisting in the preparation and presentation of false and fraudulent income tax returns. According to case papers, Smith worked as a preparer since at least 2009, operating his business from his residence. […]
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