Accounting Archives - Page 95 of 362

Biden suggests ‘foul play’ in political efforts to target son’s taxes

The president-elect believes efforts to use his son as a political cudgel amounted to “foul play” amid a federal investigation into Hunter Biden’s tax matters and Republican calls for a special counsel investigation into his foreign dealings. Original Article Posted at : https://www.accountingtoday.com/articles/biden-suggests-foul-play-in-political-efforts-to-target-sons-taxes

Where State Unemployment Compensation Trust Funds Stand in December

With 2020 nearing its close, state unemployment compensation trust funds continue to struggle under the weight of so many pandemic-created beneficiaries, though some funds are beginning to stabilize as people increasingly return to work. As of December 17th, 20 states and the U.S. Virgin Islands have drawn a collective $44.3 billion in Title XII Advances—federal…

FASB releases 2021 taxonomies

The SEC Reporting Taxonomy and GAAP taxonomy still need to be approved by the SEC. Original Article Posted at : https://www.accountingtoday.com/news/fasb-releases-2021-taxonomies

Tax Fraud Blotter: Group efforts

Folded; they didn’t need to know; sentence guaranteed; and other highlights of recent tax cases. Original Article Posted at : https://www.accountingtoday.com/news/tax-fraud-blotter-group-efforts

SEC approves PCAOB’s 2021 budget

The board’s spending is expected to increase only slightly next year, thanks to the pandemic. Original Article Posted at : https://www.accountingtoday.com/news/sec-approves-pcaobs-2021-budget

Senators ask IRS whether taxpayer data hit in SolarWinds hack

The leaders of the Finance Committee sent a letter asking for a briefing on whether taxpayer files were breached in the cyber attacks. Original Article Posted at : https://www.accountingtoday.com/articles/senators-ask-irs-whether-taxpayer-data-hit-in-solarwinds-hack

A look ahead at the 2021 filing season

Fewer DIY taxpayers, an overwhelmed IRS and other likely features of the upcoming filing season. Original Article Posted at : https://www.accountingtoday.com/news/a-look-ahead-at-the-2021-filing-season

CLA acquires Blumshapiro

In one of the biggest M&A deals of the year, the Top 10 Firm announced a major expansion in the Northeast. Original Article Posted at : https://www.accountingtoday.com/news/cla-acquires-blumshapiro

State Tax Collections Down Through September, While Local Tax Collections Rise

State tax collections declined 4.4 percent in aggregate through the end of September compared to the same nine months in 2019, according to U.S. Census Bureau data released today. The median state experienced a decline of 3.6 percent, and total state tax collections were $37.4 billion lower in the first nine months of 2020 than…