The entry of private equity into public accounting over the past four years has certainly brought a great deal of change to the profession – but it’s likely only the tip of the iceberg compared to what’s to come, experts suggest. “I wake up every morning and I pinch myself,
Accounting software provider FloQast has consolidated its entire portfolio of solutions—including FloQast Close, FloQast Compliance Management, and FloQast Ops— within its new Accounting Transformation Platform, and expanded its offerings with additional functionalities. “We’re launching the FloQast Accounting Transformation Platform at a time when the accounting profession faces unprecedented challenges,” said
The Internal Revenue Service is reminding tax professionals and employers that its second Employee Retention Credit Voluntary Disclosure Program ends Nov. 22. The program, which helps businesses repay credits they received after filing ERC claims in error, allows businesses to correct improper payments at a 15% discount and avoid such compliance action
Top 10 Firm RSM US today laid off 5% of its consulting workforce, as well as an unspecified number of employees in assurance. Employees in the consulting practice were notified in a virtual meeting with the practice leader and a human resources representative on Sept. 20, a source inside the
Special per diem rates become effective Oct. 1 to substantiate the amount of expenses for lodging, meals and incidental expenses when taxpayers travel away from home, the Internal Revenue Service announced. Rev. Proc. 2019-48 provides the rules for using per diem rates, rather than actual expenses, to substantiate the amount
Journey’s end; just shocking; house cleaning; and other highlights of recent tax cases. Pueblo, Colorado: Resident Solomon Paul Garcia has been sentenced to a year and a day in prison, to be followed by three years of supervised release, for tax evasion. Garcia worked for various employers as a journeyman
Projected brackets; the remote debate; relief and refunds; and other highlights from our favorite tax bloggers. Nonsense How’s it hanging? Down the road Tax Notes (https://www.taxnotes.com/procedurally-taxing): Returning again to Brown v. Commissioner, a case that “keeps on giving procedural issues,” the Ninth Circuit affirms the Tax Court’s opinion concerning Brown’s argument
In the latest example of accounting firms taking on outside investments, Regional Leader KNAV Advisory Inc. has taken on a minority investment from NKSquared, the U.S. investment vehicle of Indian billionaire Nikhil Kamath. The Atlanta-based firm, which has 10 partners and reported $17.11 million in revenue in the U.S. for
The Treasury Department and the Internal Revenue Service issued a Notice of Proposed Rulemaking on Friday to implement Section 139E of the Tax Code, created by the Tribal General Welfare Exclusion Act of 2014, excluding from gross income the value of any Tribal general welfare benefit. The 2014 law allows
The Treasury Department and the Internal Revenue Service issued a Notice of Proposed Rulemaking on Friday to implement Section 139E of the Tax Code, created by the Tribal General Welfare Exclusion Act of 2014, excluding from gross income the value of any tribal general welfare benefit. The 2014 law allows