DAILY BRIEFING

View in browser

August 23, 2021

Prepared for Voornaam

IRS adds address change capability to Child Tax Credit portal

By Michael Cohn       3 min read

The Internal Revenue Service added a new feature Friday to its online portal for the Child Tax Credit allowing parents to update the mailing address where they should receive the monthly payments.  View story →

On the move: Engineered Tax Services names new president

By Danielle Lee      

Wipfli adds wealth and asset management services; Brown Schultz Sheridan & Fritz hires three staff accountants in two offices; and more CPA news.  View story →

RELATED

On the move: BKD hires financial services partner →

Boomer Consulting announces Bridging the Gap award winners; Tidwell Group adds five partners; and more CPA news.

EY opens tech-focused innovation center in Chicago

By Ranica Arrowsmith       2 min read

Wavespace and Studio locations are places for EY staff and clients to come together and work on complex tech projects. View story →

Managing clients: Clock vs. calendar

By Kyle Walters       4 min read

Understanding client expectations leads to a better experience. View story →

Credit Karma integrates Money software with QuickBooks Online Payroll

By Ranica Arrowsmith       2 min read

This is the second integration since Intuit bought Credit Karma last year. View story →

SPONSOR CONTENT

Inflo Digital Audit: The profession's first end-to-end digital audit platform

Whether you’re looking for an all-in-one audit solution, or you want to transform your audit processes, Inflo can help shape your firm and how you serve your clients for decades to come. Learn More →

The search for lease accounting’s ‘new normal’

By Sarah O'Sullivan       5 min read

ASC 842 will have a major impact on many industries, but three in particular stand out. View story →

Follow Accounting Today in real time. More ways to get the most trusted industry news and analysis.

Twitter

Facebook

LinkedIn

Over $1B in donor-advised funds went to other DAFs

By Michael Cohn       4 min read

A new report raises questions about how much money is being shuttled between DAFs, rather than distributed to charity. View story →

Major tax hike on wealthy bogged down in Congress

By Laura Davison       5 min read

Rich Americans may have to wait until deep into the fall, or later, to find out how much they'll owe. View story →

Tax Fraud Blotter: Obvious red flags

By Jeff Stimpson       5 min read

Sister act; a day to think about it; cheat wagon; and other highlights of recent tax cases. View story →

PCAOB sees improvement in audits of broker-dealers

By Michael Cohn       2 min read

The board reported a decline in the number of firms that had deficiencies last year but the rate is still comparatively high. View story →

Top 10 sales and use tax audit triggers for 2021

By Mark Friedlich      

States disagree on many things, but one thing they agree on are the activities businesses engage in, or things they fail to do, in meeting their sales and use tax obligations that are most likely to lead to a sales and use tax audit. Read story →

PwC delays return to offices amid Delta spread

By Michael Cohn       4 min read

The Big Four firm is postponing the return of U.S. employees to its offices until November as the highly transmissible variant of COVID-19 continues to proliferate. Read story →

There are more 401(k) and IRA millionaires than ever

By Suzanne Woolley       3 min read

The number of accounts with balances of at least $1 million grew 84% year over year, while the number of seven-figure IRAs jumped more than 64%. Read story →

Lease accounting changes keep on coming

By Michael Cohn       15 min read

Private companies are facing a deadline on implementing the new standard, but recent updates could make an impact. Read story →

U.S. households paying no income tax hit 61%

By Laura Davison       1 min read

Declines in income and boosts to government subsidies wiped away tax liabilities. Read story →

RESOURCES

WEB SEMINAR

5 questions CFOs should be asking controllers

Wednesday, August 25, 2021 2:00 PM EDT

Join us as we bring together CFOs and controllers to talk about the essential questions that need to be asked to better plan and execute strategies for digital acceleration of the finance organization. Learn More →

SPONSOR CONTENT FROM SAGE INTACCT

REPORT

Tax planning for 2022

It’s never too early to start thinking about the end of the year, and the moves clients should make to be in the best position for the 2022 filing.  Learn More →

SPONSORED BY Wolters Kluwer

WEB SEMINAR

ASC 842 lease accounting: 10 best practices for day two and beyond

Wednesday, September 22, 2021 2:00 PM EDT

Adoption of ASC 842 lease accounting guidance is challenging, and most companies that have worked on compliance just want to get to a finish line.  Learn More →

SPONSOR CONTENT FROM CoStar

More resources →