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Sen. Ron Wyden, D-Ore., the top Democrat on the Senate Finance Committee, sent a letter Friday to Treasury Secretary Steven Mnuchin and Internal Revenue Service Commissioner Charles Rettig asking them to explain the impact of the partial government shutdown on the IRS and how it will affect taxpayer assistance, cybersecurity, operations and tax refunds. The […]
BizPayO now integrates with QuickBooks BizPayO, which provides an electronic payment system designed for accountants, now integrates with QuickBooks Desktop and Online. BizPayO was developed by Allan Ratafia, a practicing CPA in New York, and co-founder of Build Your Firm, a marketing company that publicizes accountant-made products. BizPayO is a standalone online payment processing tool […]
Cross-border commerce offers a tremendous opportunity for U.S. businesses — but there are serious tax, customs and other compliance requirements that their accountants need to be aware of, according to Avalara VP Amy Morgan.
Deals in Indiana, Ohio and Iowa are in the news for this roundup. INDIANA Somerset CPAs and Advisors adds Jongleux CPA Group Details: Somerset CPAs PC has merged in Jongleux CPA Group PC, expanding its presence in Indianapolis, where both firms are based. As part of the deal, Jongleux director A. Dave Jongleux, plus other […]
The Financial Accounting Standards Board has released staff guidance on FASB’s new credit losses standard and how to estimate credit loss reserves. The document includes a set of questions and answers on specific issues related to the weighted average remaining maturity (WARM) method for estimating the allowance for credit losses. Banks and other financial institutions […]
TaxJar, which makes tax automation software for e-commerce businesses, has closed a $60 million growth equity round of funding led by Insight Venture Partners. Tax automation providers are enjoying a moment in 2019, since the 2018 Supreme Court decision on online sales tax in the South Dakota v. Wayfair decision, and as the current administration […]
BDO USA LLP announced two acquisitions Wednesday, of Global Trade Strategies Inc., an Atlanta-based firm that specializes in customs and international trade regulation, and Lootok, a New York-based firm that handles crisis management and business continuity consulting and technology. As part of the Global Trade Strategies acquisition, BDO is launching a customs and international trade […]
The American Institute of CPAs and the National Conference of CPA Practitioners are separately asking the Internal Revenue Service to refrain from imposing underpayment and underwithholding penalties on taxpayers in response to some extensive changes in the Tax Cuts and Jobs Act. AICPA Tax Executive Committee chair Annette Nellen sent a letter Wednesday to IRS […]
Senate Finance Chairman Chuck Grassley said he’s examining his authority to obtain President Donald Trump’s tax returns, a move to ensure he could see any forms his Democratic counterpart in the House potentially receives. Grassley said he’s planning to meet with nonpartisan congressional tax advisers to learn more about the process. Under a decades-old law, […]
When the Tax Jobs and Cuts Act was passed in a whirlwind vote at the end of 2017, there were significant questions that arose regarding the implementation of the new law — and one of the biggest sticking points was the 20 percent deduction under Section 199A. It took the IRS a little over seven […]
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