Business software provider Xero announced the early U.K. release of its new Xero Go app, which aims to provide small business owners, freelancers and other self-employed individuals access to entry-level accounting solutions. The new app will allow people to record expenses via the Quickscan feature, which extracts expense information from
The Institute of Internal Auditors unveiled new research during its annual international conference in Chicago this week pointing to changes in the internal audit profession worldwide. The report collected feedback from 3,600 internal audit professionals representing 159 international locations and found regional differences within a diverse profession involved in traditional
The Federal Bureau of Investigation is warning people to make sure their cryptocurrency trading app is legitimate, because over the past year it is believed 277 people have lost $42.7 million to fake ones designed by scammers. Sometimes these apps appear to come from legitimate financial institutions, such was the
Grant Thornton U.K. LLP has been fined approximately $1.32 million pounds, or about $1.58 million, for its audits of Sports Direct International, a British sportswear retailer, by the U.K.’s Financial Reporting Council. The FRC imposed severe reprimands and fines Monday against the firm as well as a former partner, Philip
Senator Joe Manchin said he put the brakes on the Democrats’ tax and climate agenda in order to wait for July inflation data and to see what the Federal Reserve does next — but is willing to consider moving ahead in September. The West Virginia Democrat said Friday that he
An unprecedented global agreement on how to tax corporations, a key diplomatic win of President Joe Biden’s administration, is at risk of unraveling after members of his own party delayed a crucial vote, threatening the chances of the world’s biggest economy joining the deal. The U.S. Senate has an increasingly
Democrat Joe Manchin is once again playing spoiler for President Joe Biden’s economic agenda, bringing it to a screeching halt even after spending much of the year whittling down its grandest ambitions. The West Virginia senator said Friday it wouldn’t be “prudent” to act now on climate and tax plans
Off to the stockade; for the kids; untrustworthy; and other highlights of recent tax cases. Columbia, South Carolina: Former IRS employee Wayne M. Garvin, 57, has been sentenced to 13 months in prison after admitting to filing false returns and providing fabricated records to the IRS to obstruct an audit
Internal Revenue Service Commissioner Charles Rettig is scheduled to testify on Capitol Hill about recent reports that the IRS subjected two former FBI directors to purportedly random but rare tax audits after they were fired by former President Trump, even as IRS officials pointed Wednesday to possible explanations for the
The IRS and politics — nothing new; AICPA priorities; new blog on the block; and other highlights from our favorite tax bloggers. Capitol punishment Don’t Mess with Taxes (http://dontmesswithtaxes.typepad.com/): When in the past — and under what presidents and going after what targets — has the IRS gotten political? Tax