Senator Kyrsten Sinema is seeking to preserve a tax break for investment managers and narrow a levy hike on large corporations in the economic package Democrats want to pass as soon as this week, people familiar with the discussions said. The Arizona Democrat, a pivotal vote in the Senate, is
Treasury Secretary Janet Yellen waded into the congressional debate over proposed economic and climate legislation, saying it won’t raise taxes for families earning less than $400,000 a year. “The legislation would either reduce or have no effect on the taxes due or paid by any family with income less than
Republicans are using an obscure rule named for the Senate’s longest-serving member to challenge provisions of the Democrats’ surprise tax, health and climate deal in the hopes of whittling down the legislation. They’re planning to challenge many of the provisions in the 725-page, $433 billion bill using the so-called Byrd
Senator Joe Manchin, the architect of the Democrats’ new tax, climate and drugs bill, made a public pitch to his colleague Kyrsten Sinema to get on board with the legislation, arguing that it doesn’t raise taxes. Sinema has not divulged her position on the bill and has the power to
July is Disability Pride Month, commemorating the landmark Americans with Disabilities Act of 1990. In the 32 years that have followed, we have seen the federal government continue to take steps to aid those with disabilities and protect them from discrimination. Many people with disabilities, however, have felt the negative
When Maria Pearman joined Los Angeles-based Regional Leader GHJ last December as principal and beverage practice leader, she brought with her a wealth of knowledge as a 13-year veteran of an industry currently experiencing some serious disruption. Pearman was appointed leader of the beverage component of GHJ’s larger food and
Securities and Exchange Commission Chair Gary Gensler commemorated the 20th anniversary of the passage of the Sarbanes-Oxley Act while calling for strict new independence standards for auditing firms from the Public Company Accounting Oversight Board. Speaking Wednesday during a webinar co-hosted by the Center for Audit Quality, Gensler discussed how
Buyers’ criteria; EARN; marriage and accounting; and other highlights from our favorite tax bloggers. Fooling ourselves Taxbuzz (https://www.taxbuzz.com/blog): What they should be asking you about finding a tax prep professional. CPA Growth Trends (https://www.cpagrowthtrends.com/): What’s in your wings? A recent Harvard Business Review showed that companies with effective pipeline management
KPMG’s U.K. firm, one former partner and four former employees faced sanctions Monday over auditing problems at two clients, the construction company Carillion and the data services company Regenersis. The U.K. Financial Reporting Council announced the findings of a disciplinary tribunal of the firm’s audits of Carillion for the fiscal
The Internal Revenue Service is coming under fire in Congress again, this time for lax oversight of fraudulent charities that applied for tax-exempt status and received approval. House Ways and Means Oversight Subcommittee chairman Bill Pascrell, D-New Jersey, sent a letter to outgoing IRS Commissioner Chuck Rettig demanding answers to