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Top 10 Firm CliftonLarsonAllen announced on Thursday that its charitable division, the CLA Foundation, has granted $537,350 to 40 organizations across the country via its summer grant program. The firm stated that the majority of this year’s grantees serve “populations who have been historically underserved or underrepresented as defined by race, disability, veteran status and […]
A Bitcoin investor in New Hampshire has filed a lawsuit against the Internal Revenue Service after he received a letter from the IRS inquiring about his digital currency holdings. The IRS has been cracking down on cryptocurrency holders, receiving the names of approximately 13,000 customers of the Coinbase exchange after issuing John Doe summonses in […]
The American Institute of CPAs has updated its Practice Aid, “Accounting for and Auditing of Digital Assets,” to include nonauthoritative guidance on how to audit digital assets. The new material adds to the new accounting guidance issued last year by the Institute. “This non-authoritative guidance goes a long way in helping auditors consider the potential […]
EY U.S. has partnered with LeaseAccelerator to provide a new lease accounting and contract management service offering for organizations of any size. The new service from EY will leverage LeaseAccelerator’s accounting and lifecycle management software to provide customers with a managed service capable of filling needs globally. The U.S.-based alliance will also be active in […]
Russell Golden, who just completed his term chairing the Financial Accounting Standards Board at the end of June, will be chairing a newly formed independent Assurance Quality Advisory Committee at PricewaterhouseCoopers. The other members named Friday to the committee are Joanne Wakim, who previously served as the chief accountant of the Federal Reserve Board’s Division […]
As their burden during the coronavirus pandemic continues, hospital organizations that must meet the Community Health Needs Assessments requirements now have an extra five months to conduct the assessment. The July 15 deadline for conducting a CHNA and adopting an implementation strategy to meet the needs identified through the assessment has been extended by the […]
The majority of states are considering a company to have tax nexus if just a single employee is telecommuting from their state, according to a new survey, which could have wide implications for businesses as more of their employees work from home during the COVID-19 pandemic. The research, from Bloomberg Tax Accounting, found that 36 […]
ADP has introduced Simplified 5500 Compliance Reporting Process, the second phase of its enhanced Compliance Dashboard for streamlining the Form 5500 reporting requirements for employee benefit plans. The product aims to simplify compliance reporting for companies as they deal with the strains of the coronavirus pandemic. The Labor Department, the IRS and the Pension Benefit […]
The Internal Revenue Service and the Treasury Department released proposed drafts of redesigned partnership form schedules for tax year 2021 (filing season 2022) that aim to provide more clarity for partners on how to figure their U.S. income tax liability in terms of international tax reporting, including claiming the appropriate tax deductions and credits. The […]
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