Accounting

More than 20 percent of the wealthiest Americans’ income isn’t being reported to the Internal Revenue Service, according to a new study that calculates U.S. tax evasion is far higher than previously estimated. ]] Original Article Posted at : https://www.accountingtoday.com/articles/richest-1-of-americans-hide-a-fifth-of-their-income-from-the-irs

The son of a former slave, John W. Cromwell Jr. broke through a major barrier in the accounting profession in 1921. ]] Original Article Posted at : https://www.accountingtoday.com/news/the-black-cpa-centennial-meet-the-first-black-cpa

The International Financial Reporting Standards Foundation trustees formed a working group Monday to focus on harmonizing global sustainability reporting standards in preparation for a potential international sustainability standard board. ]] Original Article Posted at : https://www.accountingtoday.com/news/ifrs-foundation-sets-up-working-group-to-converge-sustainability-reporting

The move is aimed at helping pave the way for a potential international standard-setter for ESG accounting. ]] Original Article Posted at : https://www.accountingtoday.com/news/ifrs-foundation-sets-up-working-group-to-converge-sustainability-reporting

Which has more priority — reviewing a return that would take two hours to complete, or reviewing 12 returns that would take 10 minutes each? ]] Original Article Posted at : https://www.accountingtoday.com/opinion/art-of-accounting-which-tax-returns-should-you-review-first

Prominent accounting organizations released statements condemning violence against Asian-Americans following Atlanta shootings. ]] Original Article Posted at : https://www.accountingtoday.com/list/state-societies-firms-speak-out-against-asian-american-violence

President Joe Biden’s economic team at the White House is determined to make good on his campaign pledge to raise taxes on the rich, emboldened by mounting data showing how well America’s wealthy did financially during the pandemic. ]] Original Article Posted at : https://www.accountingtoday.com/articles/biden-determined-to-tax-rich-after-windfalls-during-crisis

Growth consultant Gale Crosley shares crucial guidance for firms looking to focus on consulting and advisory services. ]] Original Article Posted at : https://www.accountingtoday.com/podcast/first-steps-in-the-move-to-advisory