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The Tax Court decided in favor of the Internal Revenue Service in a case involving a tax return in which a couple filed jointly, but one of the spouses was battling mental illness and didn’t sign the return. According to the Tax Court’s February memo on the case, Moss v. Commissioner, T.C. Memo 2017-30, Peter […]
The House Ways and Means Committee held a hearing Thursday to examine how tax reform will grow the economy and create jobs, even as the turmoil surrounding the Trump administration threatened the prospects for the first comprehensive tax overhaul in more than three decades. House Ways and Means Committee chairman Kevin Brady, R-Texas, opened the […]
The Maryland Association of Certified Public Accountants (MACPA) and IBM have partnered to train accounting professionals in technology skills such as artificial intelligence (AI), big data and cognitive computing. The two organizations have agreed that IBM will provide an advanced cognitive and data skills platform to MACPA members to train them to quickly acquire data […]
Your firm was knocking the cover off the ball pre-financial crisis (circa 2007 and 2008) with a strategy of getting bigger with quality growth, stronger with quality talent, and more profitable, but it is increasingly obvious that it has become difficult competing in today’s mid-market space. The business environment is anemic and organic growth is […]
The Financial Accounting Foundation’s board of trustees has named Jeffrey Previdi, a current member of the Governmental Accounting Standards Board, as vice chairman of GASB. Before joining GASB, he spent more than two decades at Standard Poor’s Ratings Services. More recently he was managing director and project leader in SP’s risk program, where he spearheaded […]
As startups stay private for longer periods of time under the support of multiple equity financings spanning several years, their common stock valuation history is likely to come under greater scrutiny in the event a public offering is pursued. To prepare themselves and facilitate compliance with the SEC and IRS guidelines and procedures, a strong […]
The International Accounting Standards Board has issued its long-awaited standard for insurance contracts after more than a dozen years, requiring a consistent treatment for all types of insurance contracts, with insurance obligations now being accounted for using current values, instead of historical cost. The insurance standard, known as IFRS 17, was years in the making, […]
This week, Top 100 firm BlumShapiro announced that over two dozen staff members will once again volunteer to teach financial basics to Webster Hill Elementary School students on Friday, June 2nd. The event will look to introduce the foundations of entrepreneurship and financial literacy to the school’s second through fifth grade classes. The firm will […]
Vertex, which makes tax technology solutions and services, now integrates its software with SAP S/4HANA Cloud. Vertex’s software provides automated sales and use tax calculations and signature-ready returns. SAP S/4HANA Cloud is designed to allow both transactional and analytical data to reside in one system so users can access real-time data analysis. “Continuing the spirit […]
HR Block’s use of IBM’s Watson technology this past tax season is only one sign of the increasing involvement of artificial intelligence in tax preparation, with even Big Four firms like PricewaterhouseCoopers making major investments in AI for servicing their tax clients. PwC recently released a report on the use of AI and machine learning […]
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