Firms & people on the move: Baker Tilly and Weaver open new offices
Blumshapiro appoints co-leaders for new Massachusetts location; HR Block hires chief strategy and development officer; and more CPA news.
Tag: irs
Firms giving back: DunlapSLK volunteers with Feed My Starving Children
Chalfont, Pennsylvania, firm DunlapSLK saw 42 of its staff members pack meals for nonprofit Feed My Starving Children; and Alabama-based firm BMSS LLC’s Birmingham offices volunteered with a number of local charitable organizations throughout October.
Critical audit matters have arrived
Critical audit matters are upon us, and the early results are in! CAMs expand the independent auditors’ report to disclose audit-specific information that relates to accounts or disclosures that are material to the financial statements and involve challenging, subjective, or complex auditor judgment. The CAM requirements are contained in the Public Company Accounting Oversight Board’s […]
Managing tax risk when bundling communications services
Bundling goods or services, usually with a discount, is a common practice in many industries. Whether it’s a fast-food combo or a cable company “triple play,” bundles appeal to the market because consumers believe they are getting a better value compared to à la carte pricing. Bundles also appeal to sellers because the discounted packages […]
Sanders estate tax bill introduced in House
Rep. Jimmy Gomez, D-Calif., introduced legislation Friday modeled after the estate tax bill sponsored in the Senate by Sen. Bernie Sanders, I-Vt. The For the 99.8% Act would impose a tax on estates worth over $3.5 million. Under the For the 99.8% Act, the families of 588 billionaires would owe up to $2.2 trillion in […]
The real reason to amend goodwill accounting
There is a lot of discussion these days about accounting for goodwill, especially with respect to accounting issues subsequent to its acquisition. This debate is driven by managerial criticisms of goodwill impairment testing, which led to the Financial Accounting Standards Board’s invitation to comment. FASB asked responders to tell them what goodwill is, which is […]
PCAOB hires new CFO amid internal turmoil
The Public Company Accounting Oversight Board has brought in Holly Greaves, a former CFO at the Environmental Protection Agency, as its new CFO, but not publicly announced the move. “Holly was approved by the board as a corporate officer,” confirmed PCAOB spokesperson Torrie Matous. In her previous job, she had worked under former EPA chief […]
IRS shifts authority over tax appeal denials to chief counsel’s office
Internal Revenue Service Commissioner Charles Rettig issued an order Friday transferring authority over denials of requests for tax appeals to the IRS’s Office of Chief Counsel, despite recent legislation creating an independent Office of Appeals at the IRS. “In a delegation order released today, the IRS Commissioner delegated authority regarding denials of requests to go […]
IRS warns of latest Social Security number cancellation scam
The Internal Revenue Service is cautioning taxpayers and tax professionals to beware of a new twist on an old scam in which fraudsters call up victims and threaten to cancel their Social Security number if they don’t pay their taxes. “In the latest twist on a scam related to Social Security numbers, scammers claim to […]
Sage Intacct goes global
Since its acquisition by Sage in 2017, Intacct (now Sage Intacct) has experienced a growth spurt driven by the resources afforded it by Sage. This year’s Sage Intacct Advantage conference is a case in point, with its largest attendance ever, and 50 percent more exhibitors than last year. But Sage Intacct has also been growing […]
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