Senate Democrats are discussing a wider range of tax proposals than President Joe Biden has proposed, including levies on stock buybacks, carbon emissions and executive compensation, as part of a package of measures to help fund a ramping up in social spending. One idea is applying an excise tax on
The Internal Revenue Service has issued the special per diem rates that take effect Oct. 1, 2021, which taxpayers can use to substantiate the amount of expenses for lodging, meals, and incidental expenses when traveling away from home. Notice 2021-52 includes the special transportation industry rate, the rate for the
The Deloitte offices in LondonJack Taylor/Getty Images Deloitte announces Teju Deshpande, CEO and co-founder of Oya Solutions, and other professionals from the team joined the legal business services team of Deloitte, New York. Based in Chicago, Deshpande joins Deloitte as a principal. Friedman, New York, promoted Farnaz Amini to director
In July, the IRS wrapped up its annual Dirty Dozen scams list, designed to warn taxpayers against abusive tax promotions. One practice mentioned is the improper claiming of business credits, specifically the R&D tax credit. But does this mean a taxpayer should not be claiming the research credit? The credit
The U.K.’s accounting watchdog filed a disciplinary complaint against KPMG LLP, a former partner and current and former employees of the accounting firm over their role in past audits of two U.K. companies. KPMG and the individuals cited provided “false and misleading information” and documents to the Financial Reporting Council
Are you receiving frequent calls from panic-stricken clients this month? If you are, most likely they’re asking the same two questions: Why didn’t I get a Child Tax Credit check in August? Where is my check, and how can I trace it? It’s true: Some clients have not received monthly
There can be a hundred reasons why people stay or leave a firm, but I’ve narrowed it down to four critical issues. Actually I narrowed it down to three, but I was leading a discussion group last month and one of the participants and a fine colleague, Melanie Cobb, suggested
The California Society of CPAs announced that Denise LeDuc Froemming will be its next president and CEO, starting Oct. 18, 2021. Froemming will take over from Rich Simitian, who has been acting CEO since March, when the society’s previous chief, Anthony Pugliese, left to head the Institute of Management Accountants.
New York-based firm Marcum has released a new data analytics product for audits through Marcum Technology, the firm’s technology arm. Intelligent Prism is an automated data analytics service for firms that don’t have internal data analytics capabilities. Intelligent Prism automates client data consumption and analysis with the aim of increasing
Top 20 Firm CohnReznick has pledged $100,000 to the American Cancer Society to fund multiyear research examining the effects of housing discrimination on cancer cases. The study, “The Systemic and Biologic Impact of Housing Discrimination on Cancer Risk and Access to Cancer Care,” will take place over a four-year period
