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December 8, 2021

Prepared for Voornaam

Brace for the impact of the ACTC: IRS update

By Roger Russell      

At a recent stakeholder meeting, the IRS addressed the ramifications of the Advance Child Tax Credit payments on tax season and much more. View story →

M&A roundup: BDO, McCarthy, Baratz and KNAV expand

By Michael Cohn      

BDO USA merged in Culbert Healthcare Solutions; McCarthy & Co. added Borislow, Factor & Kaufmann; Baratz & Associates merged in Metter & Company; and KNAV added Jonathan W. Kaplow, P.C. View story →

RELATED

IRS details reporting guidance on carried interest at partnerships →

The Internal Revenue Service provided detailed reporting directions Wednesday for certain passthrough entities and taxpayers reporting partnership interests held in connection with the performance of services, often referred to as “carried interest.”

4 ways investing in tech that will pay dividends for CPAs

By Justin Hatch      

The biggest firms recently announced that they would spend $9 billion on new technologies. View story →

Withum releases year-end tax-planning guide and resource center

By Michael Cohn       2 min read

The resources include articles and checklists that taxpayers and tax professionals can use to prepare for the new year. View story →

A ‘two horses’ strategy to salvage a major tax break for investors in startups

By Lynnley Browning       6 min read

Democrats’ tax bill would slash in half the tax benefits of founder stock, but a potential workaround exists.  View story →

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Key business takeaways from COP26

By Cathy Koch       3 min read

Businesses want an active role in the climate solution, and tax policy will be on the agenda.  View story →

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CPA funding portal expands with loan-financing option for small biz

By Michael Cohn       2 min read

The cloud-based financing system for accounting firms has grown to include a business term loan option for firms’ small business clients.  View story →

Investors want better disclosures on goodwill

By Michael Cohn       2 min read

A global survey of investment professionals covers accounting for goodwill, related disclosures, and how those issues are affecting analysis and investment decision-making. View story →

In the blogs: Good advice

By Jeff Stimpson       3 min read

Starting advisory services; those who do also teach; the IRS is hiring; and other highlights from our favorite tax bloggers. View story →

Bitcoin’s latest plunge highlights the dangers of a crypto salary

By Misyrlena Egkolfopoulou and Claire Ballentine       8 min read

When was the last time your entire paycheck shrank by more than 20%?  View story →

Schumer aims to push Biden economic bill through before holiday

By Laura Litvan       2 min read

The goal is increasingly challenged by competing priorities that include raising the debt ceiling and the divisions in the party over the massive tax and spending plan. Read story →

Value Reporting Foundation adds Integrated Thinking Principles and SASB standards

By Michael Cohn       4 min read

 Read story →

Melancon: ‘The profession that constantly reinvents itself’

By Daniel Hood      

The AICPA president and CEO highlighted a host of major changes facing accounting in a keynote at this week’s Digital CPA conference. Read story →

IRS issues latest guidance on ERC

By Daniel Hood       1 min read

With Congress having terminated the Employee Retention Credit, Notice 2021-65 explains what businesses that claimed it need to do. Read story →

Ohio State, Deloitte Foundation announce master's scholarship program

By Sean McCabe       2 min read

The Max M. Fisher College of Business and Big Four firm Deloitte will fund diverse students' tuition to strengthen the CPA pipeline via the Deloitte Foundation Accounting Scholars Program. Read story →

RESOURCES

WEB SEMINAR

Preparing for the first lease accounting close

Wednesday, December 8, 2021 2:00 PM EST

Now that the lease accounting deadline delays have passed, most organizations will be closing their books under the new standards for the first time in 2022. Learn More →

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How to get a handle on tax information reporting this season

Identify the most common obstacles related to year-end-reporting, followed by the best practices to help your business. Download Now →

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The accountant’s guide to managing supply chain disruption

The global pandemic has caused unprecedented chaos in business supply chains. Manufacturing capacities have been reduced, inventories are subject to wild fluctuations, and transport networks have ground to a halt. These conditions present massive challenges for accountants, who must try to make sense of it all and present solutions to help their companies manage the upheaval.  Download Now →

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