The four-month trial of three former Tesco Plc U.K. executives accused of fraud and false accounting over a 250 million-pound ($341 million) profit black hole at the grocer is nearly at an end. Summing up the case Friday, Judge Deborah Taylor recounted the evidence for the London jury, going over the events of a September […]

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BKD CPAs Advisors has acquired the financial institution practice of Houston-based Harper Pearson Company, P.C, effective Jan. 9, 2018. Financial terms were not disclosed. BKD, based in Springfield, Mo., ranked 12th on Accounting Today’s 2017 list of the Top 100 Firms. The firm’s fiscal year 2017 revenues were $564 million. The acquisition expands BKD’s financial […]

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The Internal Revenue Service plans to ask tax professionals additional questions before providing them with assistance as part of its efforts to improve security. In an email to tax professionals Friday, the IRS said it is continuing to review its procedures to better protect sensitive taxpayer data. As part of that effort, it will be […]

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Businesses—especially smaller firms—may scale back on treating clients to major league baseball games, golf outings and the like after Congress and President Donald Trump ended a tax break for such entertainment. The tax overhaul that Trump signed Dec. 22 eliminated a 50 percent deduction for business-related expenses for “entertainment, amusement or recreation.” Suddenly, luxury boxes […]

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Imagine looking out five years from now and seeing a CPA firm attest partner asking voice-powered personal assistants the following three questions: • “Siri, please help me understand why our client’s gross margin went down by 10 percent year over year.” • “Alexa, please summarize the 10 best distribution practices in our client’s sector and […]

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Seven new members – including four CPAs and an Enrolled Agent – have been named to Internal Revenue Service Advisory Council, a public forum for IRS officials and representatives of the public to discuss issues in tax administration. Appointed to three-year terms on the council were: Antonio Gonzalez, CPA, founder and co-owner of Sydel Corp. […]

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The Internal Revenue Service released updated tax withholding tables for 2018 Thursday to reflect changes for the Tax Cuts and Jobs Act, amid warnings that the tables may not be accurate and will need further refinements. Notice 1036 is only the first in a number of steps the IRS intends to take to improve the […]

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National Taxpayer Advocate Nina Olson outlined concerns about how the Internal Revenue Service will be able to implement the new tax law after a series of budget cuts, in her new report to Congress. The 2017 Annual Report to Congress from the IRS’s Taxpayer Advocate Service, headed by Olson, discusses some of the challenges the […]

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