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The New York State Society of CPAs announced this week that they will hold their 2017 NextGen Conference at the Citi Executive Conference Center in Manhattan on July 24. The annual conference looks to offer professionals, both old and new, advice on career advancement, professional networking and leadership paths to ensure further success in their […]
The Internal Revenue Service has introduced an email feature that enables taxpayers to get notifications in their personal email accounts about their payments using IRS Direct Pay or the Electronic Federal Tax Payment System. In an email to tax professionals Friday, the IRS said tax clients can now opt into the new system. “Your clients […]
With the new revenue recognition standard taking effect next year, companies and their investors are bound to see some dramatic changes in the topline numbers being reported. The Financial Accounting Standards Board and the International Accounting Standards Board have done their best to harmonize their revenue recognition standards, and prepare accountants, investors and companies for […]
The Internal Revenue Service didn’t properly implement some provisions of the PATH Act aimed at reducing improper payments for refundable tax credits, instead allowing an estimated $152 million in credits, according to a new report. The report, from the Treasury Inspector General for Tax Administration, pointed to provisions in the PATH Act that tried to […]
Berdon LLP, a Top 100 Firm based in New York, has added Koch Group and Company, an accounting and tax advisory firm also based in New York, effective July 1. As part of the deal, Stuart Koch, CPA, will be bringing his team of four partners and 20 professionals to Berdon’s midtown Manhattan office. Firm-wide, […]
At long last, the Treasury has mandated that a multinational enterprise must specifically comply with its transfer pricing reporting regime. This transfer pricing reporting process itself is a curious anomaly. While both taxpayers and tax administrations have realized transfer pricing’s prime importance, the Treasury has never developed these transfer pricing reporting rules—until now. All too […]
A group of 16 House Democrats has sent a letter to the Financial Accounting Standards Board asking it to require multinational companies to disclose more country-by-country reporting information in their public financial statements about where they pay taxes and book profits. The lawmakers, led by Rep. Mark Pocan, D-Wis., and Lloyd Doggett, D-Texas, called on […]
Retailers are hoping to entice back-to-school shoppers this summer, thanks to sales tax holidays in states around the country, in an effort to fend off online merchants that are causing many brick-and-mortar stores to go out of business. The tax embargoes remain popular with consumers, even though some states such as Massachusetts have dropped their […]
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