In 2021, when a ripple of notifications lit up the iPhones of Apple users prompting them to upgrade their operating systems, a tsunami of Christian Rivera’s clients were forced out of business. The iOS 14 upgrade allowed users to opt out of being tracked for targeted ads across apps, a
House Republicans introduced legislation Thursday aiming to prevent the U.S. from participating in the multinational tax changes the Biden administration helped negotiate with the Organization for Economic Cooperation and Development. House Ways and Means Committee Chairman Jason Smith, R-Missouri, along with the rest of the Republicans on the tax-writing committee,
As CPAs, our role has never been more relevant or important. We have a responsibility to the public to build trust in our capital markets by helping to make sure there is reliable, quality information stakeholders can use to make decisions. But as society and the business environment continues to
While most business executives think generative AI will be a boon for their organizations, they are less optimistic when it comes to the employees of those organizations. A recent survey from KPMG, which asked c-suite level executives about their views on generative AI systems like ChatGPT, found the majority of
Over eight out of 10 firms are offering nontraditional services, according to a new study, and the most successful are posting an average annual growth rate of 29%, up to five times the rate of their slower-growing peers. The study, conducted by the Association for Accounting Marketing and the Hinge
Ernst & Young has been trying to recruit more young people to join the accounting profession, but the recent cancellation of high-profile plans for splitting the consulting and audit sides of the global network has left the firm trying to quell uncertainty and resentment. The firm announced plans last month
Accounting solutions provider Xero reported that its full year earnings to March 31, 2023, saying that the company delivered revenue growth of 28% (25% in constant currency (CC)), contributing to an increase in adjusted EBITDA of 45% compared to FY22 to $301.7 million. This drove a significant increase in free
The Internal Revenue Service is reportedly planning to try out its own direct-file tax software with a limited group of taxpayers by next tax season. The Washington Post reported Monday that the system was built by the IRS and the U.S. Digital Service, a technology consulting agency that works for
The Senate Finance Committee examined the impact of the Tax Cuts and Jobs Act on pharmaceutical makers’ taxes and found the law enabled some of the biggest companies to lower their tax bills by shifting profits abroad. A memo released Thursday from Senate Democrats’ staff found the 2017 tax overhaul
The Internal Revenue Service is taking steps to reduce the likelihood of harm to its employees by removing their first names from correspondence, but their last names and phone numbers will still appear. A report released Thursday by the Treasury Inspector General for Tax Administration revealed that during walkthroughs at