Accounting
SEC charges three former KPMG partners for exam misconduct
The Securities and Exchange Commission announced Tuesday settled charges against three former KPMG audit partners for sharing answers to internal training exams. Original Article Posted at : https://www.accountingtoday.com/news/sec-charges-three-former-kpmg-partners-for-exam-misconduct
Read MorePwC sued by Matalan founder over Monaco move tax advice
The founder of U.K. discount retailer Matalan Plc is suing PricewaterhouseCoopers over claims he lost as much as 135 million pounds ($165 million) by relying on advice the accounting firm gave him when he moved to Monaco 20 years ago. Original Article Posted at : https://www.accountingtoday.com/articles/pwc-sued-by-matalan-founder-over-monaco-move-tax-advice
Read MoreAs clients struggle, Mazars creates PPP Analysis Tool
The Top 100 Firm has its eye on more COVID-19 solutions. Original Article Posted at : https://www.accountingtoday.com/news/as-clients-struggle-mazars-creates-ppp-analysis-tool
Read MoreIn the blogs: Hero hour
Mute points; a twist on taking the AOTC; abolishing estate exclusions; and other highlights from our favorite tax bloggers. Original Article Posted at : https://www.accountingtoday.com/opinion/in-the-blogs-hero-hour
Read MoreHEROES Act Dependent Expansions Come with Major Drawbacks
In a previous post, I outlined portions of the dependent-related provisions in the recently-passed HEROES Act (H.R. 6800), focusing on changes to the EITC, CTC, and CDTC. Although the legislation increases and expands each of the credits, the changes are untimely, intentionally temporary, and lack sufficient stability, simplicity, and transparency. Timing The HEROES Act enters…
Read MoreIRS criminal investigators’ undercover travel expenses probed
The Internal Revenue Service’s Criminal Investigation unit spent more than $1.3 million in fiscal year 2018 on undercover confidential operations, including travel costs, according to a new report. Original Article Posted at : https://www.accountingtoday.com/news/irs-criminal-investigators-undercover-travel-expenses-probed
Read MoreMore Than Half the States Will Protect Businesses from Certain COVID-19-Related Unemployment Insurance Tax Hikes
Across the country, unemployment insurance (UI) benefits are playing an important role in helping individuals who have lost work due to the COVID-19 pandemic and associated economic fallout. The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, provided a temporary, federally-funded increase in UI benefits and expanded benefits eligibility.…
Read MoreHEROES Act Temporarily Increases Dependent Credit Generosity
Among other revenue provisions (Division B) of last week’s House-passed Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, the bill would make changes to certain refundable and non-refundable credits aimed at taxpayers with dependents under the Earned Income Tax Credit (EITC), Child Tax Credit (CTC), and Child and Dependent Care Tax Credit (CDCTC). This…
Read More‘That’s not R&D’: Changing how engineers view R&D can increase tax credits
Equip your boots on the ground to recognize R&D worthy of credit. Original Article Posted at : https://www.accountingtoday.com/opinion/thats-not-r-d-changing-how-engineers-view-r-d-can-increase-tax-credits
Read More