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Barfield Murphy Shank Smith, a Regional Leader firm based in Birmingham, Alabama, is adding Hall Albright Garrison Barnes, based in Huntsville, effective Jan. 1, 2019. As part of the deal, BMSS’s existing location in Huntsville will relocate to HAGB’s office there. Once the merger is complete, the combined firm will have 29 partners, 94 CPAs […]
The Governmental Accounting Standards Board proposed implementation guidance Tuesday to help explain some of its pronouncements. The proposed guidance includes questions and answers to clarify and elaborate on some of GASB’s standards on cash flows reporting, post-employment benefits, derivative instruments, irrevocable split-interest agreements, tax abatement disclosures and other topics. The exposure draft, Implementation Guidance Update—2019 […]
Reform and job creation; Ohio takes bitcoin; getting everyone to agree; and other highlights from our favorite tax bloggers. Declawed Rubin on Tax (http://rubinontax.floridatax.com): Similar to concerns in 2012 about a reduction in the unified credit, the 2026 sunset of the $5 million increase in the unified credit basic exclusion amount for gift and estate […]
Ohio is becoming the first state in the U.S. to accept state tax payments through cryptocurrency. Ohio Treasurer Josh Mandel announced Monday that the state is partnering with a payment processor called BitPay to launch OhioCrypto.com, a site that will allow businesses to pay their taxes with cryptocurrency. Currently, the site only accepts Bitcoin payments, […]
The Internal Revenue Service proposed regulations Monday for a provision of the Tax Cuts and Jobs Act that limits the business interest expense deduction for some kinds of taxpayers. Bloomberg Certain small businesses whose gross receipts are $25 million or less, along with certain trades or businesses, aren’t subject to the limits under this part […]
The Internal Revenue Service is providing some interim guidance on income tax withholding after deciding to postpone changes to the Form W-4 until 2020. In September, the IRS and the Treasury Department decided to delay the changes in the withholding form (see IRS pushes back major W-4 changes until 2020). The IRS released a draft […]
Ron Causey, the CEO and co-founder of SCH Group, offers insights into what made his firm the No. 1 Large Firm to Work For in 2018.
Sales suppression software, which is used by dishonest merchants to escape sales tax collectors, is understandably a target of state tax authorities, but when they don’t understand the software involved, the consequences of a false allegation against businesses can be devastating — and accountants and tax professionals will want to be sure they have the […]
For some hedge fund investors, President Donald Trump’s tax overhaul adds insult to the injury from poor investment performance. The Republican law eliminates deductions for certain expenses that wealthy taxpayers previously could itemize on their returns, including the management fees paid to hedge fund managers, which are usually mandatory. Now, rich investors will have to […]
Noble Group Ltd. is being investigated by three Singaporean agencies, including a white collar-crime police criminal probe, for “suspected false and misleading statements” and breaches of disclosure requirements, more than three years after a whistle-blower questioned the company’s accounting. The commodity trader is just days away from completing a $3.5 billion debt restructuring that would […]
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