BDO USA LLP unveiled its initial sustainability report Monday, highlighting areas where it has made progress in its environmental, social and governance efforts. The report focuses on the firm’s initiatives during fiscal year 2022, between May 1, 2021 and April 30, 2022. Among them, BDO launched a Center of Excellence
The verdict for this year’s tax season is that it was one of the most normal in years, without any of the craziness of the first three season of the COVID pandemic, or the massive tax law changes of the few years before that — and that’s all reflected in
Victims of severe storms, straight-line winds and tornadoes in Oklahoma on April 19 and 20 now have until Aug. 31 to file various federal individual and business returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency. Individuals and households that reside
The narrow requirements for qualifying for the electric vehicle tax credits under the Inflation Reduction Act are causing some consternation in the auto industry, as they only seem to apply to a limited number of models, so accountants need to advise clients carefully about new vehicle purchases. On April 18,
Whitley Penn is adding Cogenics Consulting, a technology consulting firm in Pleasanton, California, expanding the Fort Worth, Texas-based Top 50 Firm’s client accounting and advisory services team, effective June 1. Cogenics specializes in data analytics and digital transformation for financial forecasting, analysis and strategic planning. It works with applications and
The Public Company Accounting Oversight Board staff issued a report Tuesday emphasizing the importance of casting a more critical eye when auditing a company’s financial statements. The staff’s spotlight report reminds auditors of the need to critically assess their own firm’s capabilities and get a better understanding of the company
The Internal Revenue Service has slightly revised its 2014 guidance on the treatment of virtual currency to reflect the fact that some countries now accept Bitcoin as legal tender. The IRS issued Notice 2023-34 on Monday, basically updating Notice 2014-21 because it stated that digital currencies were not legal tender;
Matt – stock.adobe.com If you or a client of yours is planning on selling a company, here are 24 documents you’re going to have to show to any prospective buyer. Are you prepared? I’m betting you’ve got most of this information stored somewhere, but in various places. This is pretty
Republican leaders in the House proposed legislation this week to strip the Internal Revenue Service of much of the $80 billion in extra funding it won in last year’s Inflation Reduction Act as a gambit to reopen negotiations with the Biden administration over increasing the debt limit, while calling for
We don’t need to remind you that a recession may be on the horizon. It feels like we’ve long been pondering the possibility, with economists signaling trouble ahead. And indeed, households and businesses alike have been dealt massive blows these past few years with record inflation, supply chain strains, global