A century has passed since John Cromwell became the nation’s first Black CPA. During that time, he and other trailblazers, such as Mary Washington Wylie and Elmer Whiting, opened new doors for Black people in the profession — but their work isn’t over, and Black CPA role models continue to
The Internal Revenue Service added a new feature Friday to its online portal for the Child Tax Credit allowing parents to update the mailing address where they should receive the monthly payments. The new feature will enable any family that opts to receive their payment through a paper check to
At least $1 billion in commercial donor-advised fund grants went to other commercial DAF sponsors in 2019, according to a new report, rather than being distributed to charity. The report, released Thursday by the Institute for Policy Studies, found that over the five years analyzed from 2015 to 2019, the
Big Four firm Ernst & Young has opened a new Wavespace and Studio in the West Loop Fulton Market district in Chicago. Wavespace and Studio locations are places where EY staff and clients can come together and work on complex tech projects to improve their business. The new spot in
PricewaterhouseCoopers has decided to postpone the return of its U.S. employees to the Big Four firm’s offices until November as the highly transmissible Delta variant of COVID-19 continues to proliferate. The firm is finding many of its clients are also delaying their return-to-work plans well past Labor Day while encouraging
Senate Finance Committee chairman Ron Wyden, D-Oregon, introduced legislation Wednesday with tax credits aimed at ending homelessness and providing affordable housing. The bill, dubbed the Decent, Affordable, Safe Housing for All (DASH) Act, would provide new tax credits and down payment assistance, including a down payment tax credit for first-time
The Internal Revenue Service is teaming up with state tax authorities and the tax prep industry to alert tax professionals about some of the warning signals of taxpayer identity theft. As part of their Security Summit initiative, the IRS and its partners have been mounting a public awareness campaign this
What’s the greatest tragedy of the accounting profession? It’s the fact that most small-business owners and individuals believe their accountant is saving them money on taxes, when in truth the majority of tax preparers never reduce anyone’s tax liability. For the few accountants who try to save clients money, most
Even as the Internal Revenue Service began sending out the second batch of advance Child Tax Credit payments, evidence has emerged that the first round may have had a measurable impact on hunger and poverty in the U.S. The Census Bureau reported Friday that according to two Household Pulse Surveys
Former CEO and chairman of the board of directors of SAExploration Holdings Inc. Jeffrey Hastings pleaded guilty Friday for his role in a scheme to fraudulently and materially inflate the publicly reported revenue of SAEX by tens of millions of dollars and for misappropriating millions of dollars from the publicly