Taxes July 5, 2023
How to Develop a New Five-Year Plan for Your Company’s Tax Department
Businesses should take lessons from five years of transformation experiences to make a plan for the next half-decade.
Accounting June 27, 2023
FASB Plans Changes to Acquired Financial Asset Reporting
The proposal would eliminate the “double count” that occurs under current expected credit loss (CECL) accounting.
Accounting June 27, 2023
PCAOB Looks to Add Rules for Auditors on Technology-Assisted Analysis
The proposal would update parts of existing PCAOB standards relating to audit evidence and auditors' responses to risk.
Accounting June 26, 2023
KPMG to Lay Off 5% of U.S. Workforce in Second Round of Job Cuts
Unlike in February when the firm let go of 2% of its workforce, mostly in advisory, these job cuts will impact tax and audit.
Accounting June 26, 2023
UHY Starts High School Recruitment Program
The Junior Connect program is geared toward students interested in pursuing an accounting major and an accounting career.
Firm Management June 26, 2023
BDO USA is Shifting From a Partnership to a Corporation
The sixth largest accounting firm in the U.S. will be known as BDO USA P.A. after the change in its structure becomes official July 1.
Accounting June 21, 2023
Marcum Fined $10M by SEC and $3M by PCAOB for Shoddy Quality Controls in SPAC Audits
The top 20 firm also must make functional changes to its supervisory structure related to its system of quality control.
Taxes June 21, 2023
‘What a Difference a Year Makes!’: IRS Has Made a Huge Dent in Tax Return Backlog
In her midyear report to Congress, National Taxpayer Advocate Erin Collins shared several IRS improvements this filing season.
Accounting June 20, 2023
EY Tops Rival Audit Firms in Public Company Clients
The Big Four firm audited 1,004 of the 6,950 public companies registered with the SEC in 2023, the most of any audit firm.
Taxes June 15, 2023
TIGTA: IRS Gave Out More Than $10 Billion in Excess Child Tax Credits in 2021
The IRS miscalculated 2021 child tax credit payments for thousands of eligible taxpayers as of May 5, 2022, TIGTA said.
Taxes June 14, 2023
IRS, Treasury Issue Proposed Guidance on Monetization Options for Energy Tax Credits
The proposed rules released on June 14 focus on elective pay and transferability of credits under the Inflation Reduction Act.
Taxes June 14, 2023
IRS Clarifies Elective Payment Rules for Semiconductor Chips Tax Credit
The CHIPS Act allows eligible taxpayers to make an election to treat the credit as a payment against federal income tax.
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
