EY fired dozens of U.S. staffers last week for taking multiple online training courses simultaneously, violating the firm’s ethics policies, according to recent published reports. An investigation at the Big Four Firm revealed that some employees had attended more than one online training class at a time during the “EY
New guidance and proposed regulations are out from the Internal Revenue Service for the federal energy-efficient home improvement credit. For property placed in service beginning in 2023, a taxpayer may take a 30% credit for the total amount of certain energy-efficient products or for a home energy audit. The credit is
The Public Accounting Oversight Board posted three initial resources related to the implementation of QC 1000, A Firm’s System of Quality Control. The resources include a practice aid, comparison document and webinar. QC 1000 would require all PCAOB-registered firms to identify their specific risks and design a quality control system
Enjoy complimentary access to top ideas and insights — selected by our editors. This week’s stats focus on the number of client accounting services firms that focus on specific industry niches, current and projected standard deductions for 2024 and 2025, independence-related comment forms in Public Company Accounting Oversight Board inspections,
Preparer Tax Identification Number renewal season is underway for all tax professionals Tax professionals and Enrolled Agents must have a valid PTIN to prepare any federal tax returns for compensation. PTINs expire on Dec. 31 and must be renewed annually. The fee to obtain or renew a PTIN for 2025
Suha UddinBRIAN BOUMAN MEMORY CREATIO Suha Uddin was hired as a tax partner at RRBB Advisors, Somerset. Sax, Paterson, announced that its annual run/walk event SAX 4 Miler, supporting the Child Life Department at St. Joseph’s Children’s Hospital in Paterson, has achieved $1 million in total funds raised since its
Top 25 Firm Armanino LLP has taken on a strategic minority investment from private equity firm Further Global Capital Management. The deal, which closed today, is the latest in the series of investments by private equity in large accounting firms that began in 2021 — but with a key difference,
The Securities and Exchange Commission has been constantly revising its stance on how public companies should report their climate impact. These ongoing changes are keeping auditors, companies and investors confused. After proposing ambitious rules in 2022, the SEC adopted a scaled-back version in 2024. The new rules are set forth
Tax cuts and Mickey’s slice; avoiding FBARs; COLA wars; and other highlights from our favorite tax bloggers. Through the roof Tax Vox (https://www.taxpolicycenter.org/taxvox): Kamala Harris has released an ambitious economic agenda that includes expanding family credits, an exemption for tip income and a commitment not to raise taxes on those earning less than
Enjoy complimentary access to top ideas and insights — selected by our editors. Systems run a business, not people. People run the systems. Without good systems and compliance, most businesses will have as many systems as there are people. Think about any successful franchise, with McDonald’s, Subway and Jersey Mike’s