Canada still plans to introduce a digital services tax in 2024 despite U.S. opposition, Finance Minister Chrystia Freeland said. Freeland, speaking by phone from the Group of 20 finance ministers’ meeting in India, said Canada had already made a “significant concession” in 2020 by agreeing to delay its plan for
A Dutch tax advisor who had a client list of top DJs and fashion industry figures was charged with scheming to conceal more than $100 million from the Internal Revenue Service. Frank Butselaar was arrested earlier in Italy on a request from the U.S. and taken back into custody this
Scaling any business can be challenging. In fact, only 22% of companies launched within the last decade have managed to successfully scale their operations. For service-based companies like accounting firms, scaling is even more difficult. You can’t just ramp up production and negotiate lower material costs like you can with
The financial services industry has been slower than other sectors to adopt cloud computing. Many financial companies still rely on on-premises IT, legacy mainframes and monolithic applications. Migrating and refactoring these resources can take considerable time and effort — enough to keep IT leaders from making the switch. However, things
The Senate’s bipartisan duo, Cynthia Lummis and Kirsten Gillibrand, unveiled their latest effort to regulate the U.S. crypto industry, placing greater emphasis on consumer protection following a string of high-profile company failures last year. Lummis, a Republican from Wyoming, and Gillibrand, a Democrat from New York, first introduced their bill
The U.S. Tax Court has upgraded its case management system to make it more convenient for tax attorneys to electronically file documents simultaneously in consolidated groups of cases. The Tax Court posted a notice on its home page about the change Wednesday but noted that entries of appearance for petitioner
Madisyn Deller Brown Schultz Sheridan & Fritz, Camp Hill, has hired four new staff accountants: Kyle Bennett in Frederick, Maryland; Madisyn Deller and Erin Morrison in Lancaster, Pennsylvania; and Matt Hood in Camp Hill. Herbein + Co. Inc., Reading, announced a new go-to-market strategy that will unify all its businesses
Alphabet Inc.’s Google has emerged as one of the firms that PwC Australia targeted when it used confidential tax policy information to tip off customers. PwC, which was advising the Australian government on incoming tax rules for multinational companies, told Google about the start date of the legislation. PwC Australia
Thomson Reuters plans to invest $100 million per year in artificial intelligence starting next year, with plans to integrate the technology in its tax research and tax preparation systems as well as other areas. “The places we are going to be focusing on are some of the biggest, most enduring
Global tax professionals are concerned about the impact of the Organization for Economic Cooperation and Development’s latest base erosion and profit shifting plan, as well as artificial intelligence technology, according to a recent survey. The survey, released last month by Ernst & Young, polled 1,600 CFOs, heads of tax and