The far-reaching tax legislation that passed early Thursday morning in the House included a provision that would transfer the responsibilities of the Public Company Accounting Oversight Board to the Securities and Exchange Commission, effectively eliminating the PCAOB. The House Financial Services Committee passed a bill at the end of April
The tax reconciliation bill making its way through Congress is expected to add trillions of dollars to the national debt, but the Trump administration hopes to offset the cost through income from tariffs. Accountants are helping worried companies deal with the possible fallout. “Obviously, tariffs create a lot of uncertainty,”
Lack of awareness, fear of mistakes and penalties, and the cost of filing are preventing many families from claiming millions of dollars in tax credits, according to a new study. The report, released Tuesday by the New Practice Lab at New America, surveyed over 5,000 respondents to learn why so
Eide Bailly, a Top 25 Firm based in Fargo, North Dakota, is growing its presence in the Pacific Northwest by adding Traner Smith, based in Edmonds, Washington, effective June 2, 2025. Traner Smith’s team includes two partners and 16 staff members and specializes in tax compliance and advisory services. Financial
Billy Long speaking at a Donald Trump campaign eventAl Drago/Bloomberg The week before confirmation hearings for President Donald Trump’s nominee for commissioner of the Internal Revenue Service, former Missouri Congressman Billy Long, Democrats in the Senate are asking questions about the timing of campaign donations he received immediately after his
Donald TrumpAl Drago/Bloomberg President Donald Trump called on members of his party to unite behind his economic agenda in Congress, putting pressure on factions of lawmakers who are calling for last-minute changes to the legislation to drop their demands. “We don’t need ‘GRANDSTANDERS’ in the Republican Party,” Trump said in
Relationships fuel so many businesses — including accounting — but for the clients of San Jose, California-based PP&Co.’s fastest growing industry specialization, they are the “lifeblood,” according to assurance partner Richard O’Leary. More specifically, for the Regional Leader’s burgeoning private and public club industry clients, members are their foundation. “Membership
The Public Company Accounting Oversight Board staff released a new publication highlighting the perspectives of audit committee chairs. The publication, “2024 Conversations With Audit Committee Chairs,” includes observations and takeaways from 272 interviews that PCAOB staff conducted with audit committee chairs last year. The topics include factors affecting their relationships
Wealthy Americans and business investors are among the big winners in House Republicans’ draft tax legislation while targets of President Donald Trump’s ire such as immigrants and elite universities were hammered. The tax plan is likely to undergo significant changes as it winds through the House and then the Senate.
Artificial intelligence has indeed led tech-forward firms (including those in this year’s Best Firms for Technology) to be more efficient and productive in both client-facing and administrative tasks, but at the same time professionals have found the technology still struggles with precision and accuracy, which limits its usefulness for complex