People & firms on the move: KSCPA names officers, Women to Watch
RSM donates $4 million through Birdies Fore Love campaign; Jackson Thornton elects CEO, principals; and more CPA news.
Tag: irs
As an accountant, would you rather be a dentist or a surgeon?
Did you ever hear the joke that begins: “A dentist, a brain surgeon and a CPA walk into a bar?” I didn’t either. However, more and more CPAs need to decide if they want to run their practices like dental offices or neurosurgery practices. And there’s nothing funny about that. You can do well with […]
Inadequate IRS funding is a threat: IRSAC
The IRS Advisory Council, a federal advisory committee that provides a public forum for discussion of relevant tax administration issues between IRS officials and representatives of the public, sees a danger in chronic underfunding of the agency. IRSAC made the point in its annual report, which also highlighted the importance of the Taxpayer First Act […]
ACCA chooses new president
The Association of Chartered Certified Accountants has named Mark Millar, the former head of a hospice in the United Kingdom, as its new president. Mark Millar, from Suffolk, England, was appointed as the leader of the international accounting organization at the ACCA’s Annual General Meeting, which was held entirely online for the first time ever […]
Global tax avoidance costs countries $427B each year: Report
Taxpayers around the world lose at least $427 billion each year to individual tax evasion and multinational corporate profit-shifting, which undercuts public funding for a COVID-19 response, according to a new report. The report, released Friday by the advocacy group Tax Justice Network, in collaboration with Public Services International, the Global Alliance for Tax Justice […]
AICPA disagrees with IRS commissioner Rettig on penalty relief
The American Institute of CPAs is firing back after a congressional hearing Friday featuring Internal Revenue Service commissioner Charles Rettig in which he took issue with a recent letter from the AICPA on the subject of penalty relief for taxpayers dealing with the novel coronavirus pandemic. During a House Ways and Means Oversight Subcommittee hearing, […]
Intuit introduces HubSpot for QuickBooks
Intuit has introduced HubSpot for QuickBooks, an integration between QuickBooks Online and the customer relationship management software. The COVID-19 pandemic has elevated the importance of high-level customer communication, which makes this offering particularly timely. Currently, the offering is available only to QuickBooks Online Advanced users. Intuit plans to continue to collaborate with HubSpot on solutions […]
IRS makes final push before stimulus payment deadline
The Internal Revenue Service reminded taxpayers Thursday that they only have until Nov. 21 at 3 p.m. Eastern Time to register for an Economic Impact Payment of $1,200 or more. The payments were included as part of the CARES Act that Congress passed in March to provide relief amid the COVID-19 pandemic. They provide $1,200 […]
Tax Fraud Blotter: Fast, fuel, FEMA and fraud
Drug money; Phoenix descending; stepping down; and other highlights of recent tax cases. Las Vegas, New Mexico: Preparer Carlos Perea, 44, has pleaded guilty to two counts of aiding and abetting the preparation of false income tax returns. Perea owned and operated Perea Fast Tax, where he prepared income tax returns for clients and filed […]
The craziest work-from-home expenses of 2020
Employees working from home during the coronavirus pandemic claimed some outlandish expenses this year, including pricey exercise bikes, facelifts and private jets. Emburse, an expense management software company, released a compilation Wednesday of some of the craziest expenses it has seen claimed this year, some of which were actually approved. That included $1,895, which was […]
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