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Next round of relief — and infighting; challenges and pitfalls at the IRS; Biden’s ideas; and other highlights from our favorite tax bloggers. COVID operations Sikich (https://www.sikich.com/insights/): Reporting CARES funds. Wolters Kluwer (http://news.cchgroup.com/): The 11th blog in this ongoing series looks at the pandemic’s effect on non-retail businesses that now face sharper sales and use […]
Managing cash flow has become the top priority for financial professionals as their businesses have seen significant drops in cash flow, revenue and profits amid the COVID-19 pandemic, according to a new survey. The survey, by tax and accounting technology companies Avalara and Zuora, found that more than 50 percent of the 400 respondents cited […]
A group of five national tax authorities has been working together for the past two years on cooperating in the fight against tax crimes, with one man pleading guilty last week in Germany to fraud charges involving cryptocurrency. The Joint Chiefs of Global Tax Enforcement, or J5, is marking its two-year anniversary this week. The […]
The Tax Court struck down four more abusive syndicated conservation easement transactions last week, prompting the IRS to call on any taxpayer involved in such transactions who receives a settlement offer from the Service to accept it soon. These time-limited settlement offers, announced last month, are only being made to certain taxpayers with pending docketed […]
France held firm on its plans to resume collection of a national digital tax that hits technology giants including Amazon.com Inc., Alphabet Inc.’s Google and Facebook Inc., saying it wouldn’t be swayed by threats of U.S. sanctions. The U.S. plans to announce further details in the long-running battle with France over taxes on technology giants […]
No one predicted this. No one saw 2020 shaping up the way it has. We didn’t choose this year, but for some reason, it chose us. Hopefully, you’ve moved through all the stages of grief and have accepted that life “is what it is.” We can reminisce about the “good old days,” but life has […]
IRS criminal investigation chief announces retirement; the Connecticut Society of CPAs and FEI install new boards of directors; and more CPA news.
The Senate unanimously passed bipartisan legislation Wednesday to help nonprofits, state and local governments, and federally recognized tribes remain financially viable during the COVID-19 pandemic by ensuring they receive federal help for unemployment payments upfront, instead of being reimbursed later. The House later passed the bill in a pro forma session Thursday and it’s headed […]
Top 20 Firm Dixon Hughes Goodman, based in Charlotte, North Carolina, has announced a live-streamed panel discussion, to be held on July `14, 2020, in which firm leaders will engage in conversations centered around racial injustice and what businesses in America can do to help. “As part of our unwavering commitment to equality and inclusion, […]
The American Institute of CPAs’ Auditing Standards Board released an updated standard for auditing accounting estimates and disclosures to deal with the increased volatility of the economy this year in the midst of the novel coronavirus pandemic. Statement on Auditing Standards No. 143, Auditing Accounting Estimates and Related Disclosures, supersedes the earlier SAS No. 122 […]
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