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The Public Company Accounting Oversight Board has been making changes to its strategic plans and agenda in response to the COVID-19 pandemic as it sees auditors doing more work remotely and facing issues with auditing financial statements issued during the pandemic. “We have a five-year strategic plan. We’re in the middle of it, and our […]
Biden’s plan; virtual currency question moves up; the magnificent seven audits; and other highlights from our favorite tax bloggers. Changes upon changes Tax Vox (https://www.taxpolicycenter.org/taxvox): Conventional wisdom says Joe Biden’s ambitious tax agenda will die in the Senate, assuming the chamber remains under GOP control following two Jan. 5 run-offs in Georgia. But don’t be […]
If there was ever a year to hit the reset button, it’s 2020. A painfully long tax season, keeping up with Paycheck Protection Program changes, tracking forgiveness, keeping clients calm and moving forward — and all during a global pandemic. It’s been a lot, to say the least. While 2020 will go down as one […]
The coronavirus pandemic hit the National Association of State Boards of Accountancy in toward the end of its fiscal year, but the organization is fully back to its mission, according to its recently released annual report. Like many organizations, in March and April, NASBA found itself having to navigate the new remote-work environment, while also […]
Details: Hancock Askew Co. LLP., a regional firm based in Savanna, Georgia, is expanding to Jacksonville, Florida, by adding S. Mark Hand Associates PA. Financial terms of the deal were not disclosed. Hancock Askew ranked No. 19 on Accounting Today’s 2020 Regional Leaders list of the Top Firms in the Southeast with $19.05 million in […]
The Internal Revenue Service is rolling out new systems and expanding the number of forms that can be electronically filed by tax-exempt organizations, while also dealing with some technology glitches resulting from the COVID-19 pandemic. One of the first steps is a new Enterprise Case Management System that’s initially being piloted at the Tax Exempt […]
The IRS quietly removed last week one of the four options to correct for return errors in the international space. The removed program, the Delinquent Information Submission Procedure, provided an avenue to taxpayers who did not need to use or were not eligible under the Offshore Voluntary Disclosure Program or the Streamlined Filing Compliance Procedures […]
The Accounting Financial Women’s Alliance announced the recipients of its 2020 Women Who Count Awards during the virtual Women Who Count Awards luncheon held during its Women Who Count Conference on Oct. 30. “This year’s recipients demonstrate a drive to take on challenges and strive for success,” AFWA wrote in a statement. “They are leaders […]
President-elect Joe Biden has pledged to repeal President Donald Trump‘s tax cuts as soon as he is inaugurated, but the ongoing financial crisis and the prospect of a Republican-controlled Senate could waylay that proposal for the foreseeable future. Biden will likely soon send a deficit-financed economic recovery bill to Congress, delaying any progress on a […]
Prior to the presidential election, one of the year-end focuses for tax planning was on a possible presidential victory for Joe Biden combined with a Democratic majority in the Senate that might result in tax increases in 2021 for higher-income individuals, corporations, investors, and estates. Biden has now been declared the victor of the presidential […]
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