Auditing January 21, 2025
PCAOB Puts Spotlight on Journal Entries in Latest ‘Audit Focus’
PCAOB staff continues to identify a large number of deficiencies related to the auditor’s examination of journal entries, the audit regulator said.
Taxes January 21, 2025
IRS Issues Guidance on State Paid Family and Medical Leave Programs
The IRS recently released guidance on the income and employment tax treatment of contributions and benefits paid in certain situations under a state paid family and medical leave program, as well as the related reporting requirements.
Taxes January 21, 2025
IRS Revises FAQs on Home Energy Tax Credits
The IRS updated frequently asked questions about the Energy Efficient Home Improvement Credit and the Residential Clean Energy Property Credit in Fact Sheet 2025-01 on Jan. 17.
Mergers and Acquisitions January 19, 2025
GBQ Adds Wirth Lowe Wissemeier CPAs in Ohio
The Columbus, OH-based top 100 accounting firm acquired Cincinnati-based CPA firm Wirth Lowe Wissemeier CPAs, effective Dec. 16, 2024.
IRS January 17, 2025
IRS Chief Danny Werfel to Resign on Jan. 20
Werfel took over as chief of the tax agency in March 2023 and is stepping down on Inauguration Day with more than two years left in his term.
Mergers and Acquisitions January 17, 2025
KLR Merges in Sullivan Bille in Massachusetts
With this expansion, KLR will now operate three offices in the Greater Boston area, enhancing the top 100 accounting firm's ability to serve clients across the region.
Mergers and Acquisitions January 17, 2025
Brady Martz Adds Green & Miller in Texas
The Grand Forks, ND-based top 100 firm has expanded its automotive dealerships team and footprint with the addition of Corinth, TX-based full-service accounting firm Green & Miller PC.
Accounting January 17, 2025
Grassi Joins Global Association of Accounting and Advisory Firms
The top 60 accounting firm has joined PrimeGlobal, an association comprised of more than 300 independent member accounting and advisory firms in over 113 countries with a combined revenue of $5.4 billion.
Auditing January 16, 2025
Withum Leads in IPO Audit Clients for Q3 of 2024
After tying PwC for the lead in the second quarter of 2024, top 25 accounting firm Withum was alone at the top of the initial public offering auditor market share standings in Q3 with 11 audit clients that went public, according to Audit Analytics.
Taxes January 16, 2025
IRS to Pilot Changes to Alternative Dispute Resolution Programs
The initiative focuses on changes to the existing Fast-Track Settlement (FTS) and Post-Appeals Mediation programs, and introduces a third pilot, Last Chance FTS.
Taxes January 15, 2025
Treasury, IRS List Qualifying Technologies for Clean Electricity Tax Credits
The Treasury Department and the IRS on Jan. 15 published the first Annual Table that provides greenhouse gas emissions rates for certain types or categories of facilities that are eligible for the Clean Electricity Production Tax Credit and the Clean Electricity Investment Tax Credit.
Taxes January 15, 2025
IRS Proposes Regs, Draft Form for Corporate Separations and Reorganizations
The Treasury Department and the IRS on Monday released proposed regulations for corporate separations and reorganizations, as well as reporting requirements for multiyear corporate separations and a draft version of new Form 7216.
Contributors
Amy Vetter
CPA, CITP, CGMA
Becky Livingston
Accounting & AI Marketing Consultant
Brian Tankersley
CPA, CITP, CGMA
Garrett Wagner
CPA, CITP, CEO and Founder of C3 Evolution Group
Jim Boomer
CPA, CITP, CEO
Ken Berry, JD
CPA Practice Advisor Tax Correspondent
Kristy Short, Ed.D.
Accounting Content Specialist
Mary Girsch-Bock
Contributing Writer
Randy Johnston
MCS, MCP
Roman Kepczyk
CPA, CITP, CGMA
