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Allen Weisselberg is an unassuming, soft-spoken guy who has spent decades avoiding the limelight, first in the 1970s as an accountant for President Donald Trump’s father, Fred, and then as the Trump Organization’s chief financial officer. Those days are over. The Wall Street Journal reported on Friday that Weisselberg — who has also watched over […]
Jackson Thornton, a firm based in Montgomery, Alabama, has acquired the Kansas City, Kansas-based CPA practice of Kevin S. Kelso, effective Sept. 1, 2018. Financial terms were not disclosed. Kelso is the sole shareholder at his practice, but he will be bringing five other staff members with him to Jackson Thornton when he joins the […]
Big Four firm Deloitte was recently named to Fortune magazine’s fourth annual “Change the World” list, which recognizes companies that try to solve larger societal problems through their own business doings. “The Change the World list recognizes companies that have had a positive social impact through activities that are part of their core business strategy,” […]
The Financial Accounting Standards Board’s proposed changes to the credit loss standard promise to help private banks and credit unions deal with the transition on a more comfortable timeline. FASB released a proposed accounting standards update this week to amend the transition requirements and scope of the credit losses standard (see FASB proposes to tweak […]
The Institute of Management Accounting has debuted a massive open online course, or MOOC, on sustainability reporting. The free course, “Improving Confidence in Sustainability Performance Data,” is being offered through openSAP. It fits into the trend of MOOCs, which have become popular in recent years through platforms such as Coursera and edX, which offer courses […]
The Internal Revenue Service could do more to strengthen its tax enforcement efforts by further leveraging the Return Review Program to catch fraudulent tax returns, according to a new report. The report, from the Government Accountability Office, noted that the IRS’s Return Review Program, or RRP, detects and selects potentially fraudulent returns to stop invalid […]
The Internal Revenue Service could be pursuing further action to reduce tax refund losses associated with business identity theft, according to a new report. The report, from the Treasury Inspector General for Tax Administration, noted that identity theft affects not only individual taxpayers, but businesses as well, especially when criminals appropriate a business’s Employer Identification […]
Intuit’s CEO, Brad Smith, is preparing to step down from the role by the end of 2018. On January 1, Sasan Goodarzi, currently executive vice president and general manager of Intuit’s Small Business and Self-Employed Group, will take over the office, as well as join the board. Sasan Goodarzi Concurrently, chief technology officer of 10 […]
The Internal Revenue Service put the tri-state area on notice: The charitable workarounds New York, New Jersey and Connecticut approved following the new federal cap on deductions for state and local taxes aren’t acceptable to the federal government. Taxpayers who itemize will only be eligible for a federal deduction that’s a small fraction of their […]
When Aretha Franklin died last week after a long battle with pancreatic cancer, the 76-year-old Queen of Soul reportedly left behind no will or estate plan, potentially exposing her heirs to estate taxes. Franklin’s four surviving sons have filed a document listing themselves as interested parties for her estate, according to CNN, and her niece […]
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