Tax departments are often forgotten as a big data consumer. To get a sense of what large companies deal with, just take a minute to reflect on your personal tax return. You need all your data organized and collated in a timely fashion, prior-year returns to do year-over-year line-item level
The Public Company Accounting Oversight Board is on the receiving end of a lawsuit filed by a civil liberties group for penalizing an unidentified accountant. The New Civil Liberties Alliance filed a complaint Thursday in the U.S. District Court for the Northern District of Texas seeking declaratory and injunctive relief
“Never spend your money before you have earned it,” Thomas Jefferson cautioned. It’s good advice for corporate America, but only if companies know where the cash is, when it’s arriving and how much to expect. Solving this cash flow conundrum is on the minds of finance and accounting executives and
The Securities and Exchange Commission is weighing a proposed rule to require publicly traded companies to provide climate-related disclosures. Technically it wouldn’t apply to privately held companies, but many of them and their accountants may be drawn into the process, whether they like it or not. That’s because one aspect
The Internal Revenue Service’s Criminal Investigation unit is increasingly relying on information provided by financial institutions under the Bank Secrecy Act to uncover tax-related crimes such as money laundering and drug trafficking. IRS-CI chief Jim Lee presented statistics Wednesday showing that 15.8% of all investigations opened by his division in
Treasury Secretary Janet L. Yellen will soon need to use accounting maneuvers to keep the United States from defaulting on its debt.
The Internal Revenue Service could be doing more to detect and deter promoters of abusive tax schemes, according to a new report. The report, released Tuesday by the Government Accountability Office, pointed to the various schemes listed by the IRS every year in its roundup of the Dirty Dozen tax
The first smartphones were released in 2007, and only 15 years later, we have phones that can do much more than simple calls and text messages. Most people are now fully equipped with a GPS device, a camera, video recorders, and multiple web browsers at all times; some people are
The average effective tax rate of profitable large corporations fell from 16% in 2014 to 9% in 2018 after passage of the Tax Cuts and Jobs Act of 2017, according to a new government report. The trend of large multinational corporations paying a relatively small percentage of taxes, no taxes
The Forvis building in Springfield, Missouri Courtesy of Forvis Forvis, New York, announces a collaboration with Jupiter Intelligence, a provider of climate risk analytics for organizations looking to strengthen their climate resilience, that will help clients manage physical risk exposure and provide disclosures to stakeholders. The International Auditing and Assurance
