Latest Articles

 New Legislation Targets Companies that Claim Foreign Status for Tax Purposes

May 21, 2014 

New Legislation Targets Companies that Claim Foreign Status for Tax Purposes

There has been a surge of American companies that have changed the address of their headquarters to a foreign country, a maneuver referred to as an “inversion” that allows them to avoid U.S. taxes. The FACT (Financial Accountability and Corporate Transparency) Coalition hails the introduction of legislation to close the “inversion” loophole,.

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May 21, 2014 

Abila Introduces New Features to netFORUM Pro Social CRM System

Abila today announced that advanced new features have been added to its Social CRM technology solution, netFORUM Pro version 2014.1. These features include deeper batch accounting functionality, membership renewal enhancements, and overall improvements to the user interface, further enhancing the already enjoyable user experience. Abila provides software solutions dedicated to serving dynamic membership associations, nonprofit…

 IRS Names New Members of Tax Exempt Advisory Committee

May 21, 2014 

IRS Names New Members of Tax Exempt Advisory Committee

The Internal Revenue Service has announced that its Advisory Committee on Tax Exempt and Government Entities (ACT) will hold a public meeting on June 11, when the panel will submit its annual reports and recommendations to senior IRS executives. Ten newly appointed members of the panel (listed below) will also be introduced at the public…

 Report: Businesses Losing 5% of Revenue to Fraud

May 21, 2014 

Report: Businesses Losing 5% of Revenue to Fraud

Organizations around the world lose an estimated five percent of their annual revenues to occupational fraud, according to a survey of Certified Fraud Examiners (CFEs) who investigated cases between January 2012 and December 2013. Applied to the estimated 2013 Gross World Product, this figure translates to a potential total fraud loss of more than $3.5…

Isaac M. O'Bannon

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May 21, 2014 

Illinois CPA Society to Host Conference for Young Professionals

The Illinois CPA Society’s Young Professionals Leadership Conference positions the next generation of finance and accounting professionals for future success, and this year’s conference features strategies to bring connectivity into the workplace. Additional presentations include insight into creating power teams, relationship-building for business opportunities and a case study in destructive culture.

 Commercial Construction Slows in Q1, But Growth Expected

May 21, 2014 

Commercial Construction Slows in Q1, But Growth Expected

The Marcum Commercial Construction Index for the first quarter of 2014 shows that extreme winter weather conditions suppressed nonresidential construction activity during the period, with spending declines in all three months of the period. The index predicts a return to expansion during the remainder of the year, however.

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May 20, 2014 

May Checklist for Accounting & Tax Firms

Many years ago, in a warm sunny May of my youth, I finished college (or so I thought), packed everything I owned in a U-Haul truck, and drove to Washington D.C. I was so bold and happy. I had no job, no place to live, just a passion for whatever life had in store for…

Gail Perry

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May 20, 2014 

The Future of Sustainability – AICPA

The Future of Sustainability Susan Coffey, AICPA Senior Vice President, Public Practice & Global Alliances and Jessica Fries, Executive Chairman and Board Director of The Prince of Wales Accounting for Sustainability Project (A4S) discuss the future of sustainability.