DAILY BRIEFING

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January 5, 2022

Prepared for Voornaam

Taking the risk out of tax season

By Roger Russell       6 min read

Liability risks always multiply in the run-up to April 15; this year is even worse. View story →

Higher earners may owe more to Uncle Sam for 2022, even without tax increases

By Lynnley Browning       5 min read

Inflation and higher wages can push earners up a tax bracket, while unchanged deductions can spark bigger tax bills. View story →

RELATED

Lawmakers demand answers on IRS backlog before next tax season →

A group of 99 House Republicans has sent a letter to Internal Revenue Service commissioner Charles Rettig asking for information about how the IRS plans to fix the backlog of unprocessed tax returns before the 2022 filing season.

Tax planning with private placement life insurance

By Henry Montag, Steven A. Horowitz       7 min read

These policies create an excellent source for the payment of estate and other transfer taxes, as well as the augmentation of family income and wealth after the death of the senior generation.  View story →

Pathways to Growth: Time for strategic pruning

By Gale Crosley       4 min read

Traditionally, a firm's client list has been sacrosanct, but they need to rethink that. View story →

Tax pros focusing on recruiting and training new talent

By Michael Cohn       3 min read

Tax leaders are concentrating on recruiting and training new and existing talent this year, while emphasizing personal development and health and wellness in order to attract and retain good people. View story →

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NJCPA meets with local students to discuss accounting careers

By Sean McCabe       2 min read

More than 80 members of the New Jersey Society of CPAs visited local high schools as part of the 2021 CPA Career Awareness program. View story →

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M&A roundup: Wiss, High Rock and ATA expand

By Michael Cohn      

Wiss acquires Neidich; High Rock Accounting adds the Digital CPA; and Alexander Thompson Arnold buys Jordan, Woosley, Crone & Keaton. View story →

Small biz raised hourly wages to $30 in December

By Michael Cohn       3 min read

Employees at small businesses saw their average hourly earnings hit a record high in December, while employment levels kept rising. View story →

In the blogs: Take notice

By Jeff Stimpson       3 min read

Biggest offenders; problems with relief; what to do this year; and other highlights from our favorite tax bloggers. View story →

IRS starts requiring e-filing of Form 1024

By Michael Cohn       2 min read

The service has revised Form 1024 to permit electronic filing and is beginning to require applications for tax-exempt status to be e-filed. View story →

Ivanka, Don Jr. subpoenaed in asset probe

By Erik Larson       2 min read

The two have been subpoenaed by New York authorities probing whether their father's real-estate business manipulated the value of key assets. Read story →

IRS cyber vulnerability scanning needs fixing

By Michael Cohn       3 min read

The Internal Revenue Service should improve the way it scans for cybersecurity vulnerabilities and remediates the ones it finds, according to a new report. Read story →

Getting ready for the 2022 tax season

By Antoinette Alexander       11 min read

Tax pros are keeping their fingers and toes crossed for a normal filing season. Read story →

Timing of auditor firings raises questions

By Michael Cohn       3 min read

When companies suddenly replace their auditing firms, the required SEC disclosures are often vague and may be a signal of a forthcoming restatement, but timing is a crucial factor. Read story →

CAQ and American Accounting Association revamp research partnership

By Michael Cohn       2 min read

The Center for Audit Quality and the American Accounting Association are making changes to their Access to Audit Personnel research partnership program. Read story →

RESOURCES

WEB SEMINAR

Tax season kickoff

Thursday, January 13, 2022 2:00 PM EST

A roundup of the top issues facing tax pros in the race to April 15, from the latest in tax laws and regs, to staffing issues, new technologies, and more. Learn More →

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Four best practices for the new employee onboarding process

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Best practices for IT security

Thursday, March 10, 2022 2:00 PM EST

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