Nearly a quarter of internal audit teams intend to implement cloud-based audit management or governance, risk and compliance software this year, according to a new survey. The report, by the Institute of Internal Auditors’ Internal Audit Foundation and the audit, risk and compliance software developer AuditBoard, surveyed 134 internal audit
The Internal Revenue Service is mailing letters to taxpayers explaining why they may not be getting as much of a Recovery Rebate Credit as they were expecting on their taxes. The amount of the credit claimed on their 2020 tax return may be reduced if they were claimed as a
While retailers and consumer-oriented commercial businesses embraced online marketing years ago, accounting practices have been slow to adopt digital marketing strategies. The pandemic has hastened adoption, but for most firms the move to digital marketing remains more reactive than proactive. Many of the digital tools and techniques remain unfamiliar to
When choosing a business entity type for their companies, general contractors must think about the legal, financial and tax implications. How can you help your clients become better informed about which business entity type might benefit them the most? Below, I’ll share six key considerations as they explore the available
Mark BaerHeadshotsColumbus Mark Baer officially assumed the role of CEO at Crowe April , succeeding Jim Powers, who completed two terms in accordance with the firm’s partnership agreement. As part of the transition, Baer appointed Brenda Torres, who previously served as the firm lead for audit quality and operations in
Could be a long haul; Boston illegal; down the drain; and other highlights of recent tax cases. East Providence, Rhode Island: Michael Chaves, owner of an automobile transport company, has been sentenced to 30 months in prison for taking evasive steps to avoid paying personal federal income taxes owed to
The Internal Revenue Service said Wednesday it plans to take steps to automatically refund money starting in May and continuing through the summer to taxpayers who filed tax returns reporting unemployment compensation prior to recent changes under the American Rescue Plan. The COVID relief package, which President Biden signed into
The Internal Revenue Service is clarifying its guidance on provisions of the coronavirus relief legislation that provide tax credits to employers offering paid sick leave and family leave to workers. The IRS updated the frequently asked questions page about the tax credits on Thursday. The tax credits were part of
As a fresh round of federal relief loans is getting distributed to U.S. small firms hit by a pandemic crisis that will soon stretch to a year, new research shows that last year’s tranches of the Paycheck Protection Program covered less than a month of business expenses. PPP loans provided
Senators and House members introduced legislation to help taxpayers survive the pandemic, with tax credits for developers revitalizing homes in “distressed” neighborhoods and enabling small businesses to pay essential expenses. Sen. Rob Portman, R-Ohio, and Ben Cardin, D-Maryland, who are both members of the Senate Finance Committee, introduced a bipartisan
