Internal Revenue Service commissioner Chuck Rettig heard complaints from lawmakers about their constituents missing stimulus payments.
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Upcoming Events
Daily Briefing
October 8, 2020
Upcoming Events October 8, 2020
Daily Briefing
IRS chief grilled about performance during coronavirus crisis
By Michael Cohn      6 min read
Internal Revenue Service commissioner Chuck Rettig heard complaints from lawmakers about their constituents missing stimulus payments.
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AICPA, IESBA and IAASB offer guidance on use of specialists amid coronavirus
By Michael Cohn      2 min read
The document discusses some considerations involving the use of specialists when auditing financial statements during the pandemic.
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IIA offers new framework for internal audit competency
By Michael Cohn      2 min read
The Institute of Internal Auditors has introduced a new framework for the professional development of internal auditors.
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A short guide to IRS transcripts
By Jason Schow      5 min read
While transcripts are notorious for being complex, they can be incredibly helpful in the hands of tax professionals who know how to use them.
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2020 National Cannabis Business Symposium to be held online
By Sean McCabe      2 min read
The conference, developed by both the California and Colorado Society of CPAs, will be held virtually on Oct. 26 and 27, 2020.
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Paying for the pandemic: Are increased taxes the answer?
By Rob Mander      5 min read
Conversations have already started about how the increased government expenditures to support citizens during the pandemic will be funded. But resisting the urge to increase taxes may be the best way to support economic growth.
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Studies question need for auditor rotation
By Michael Cohn      4 min read
A pair of academic studies casts doubt on the value of mandatory rotation of auditing firms and lead engagement partners.
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In the blogs: Time to panic
By Jeff Stimpson      2 min read
Field audits down; streamlining taxes for social policies; bad-date boondoggle; and other highlights from our favorite tax bloggers.
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GE warns of likely SEC action in probe of insurance reserves
By Ryan Beene      4 min read
General Electric Co. warned that it’s likely to face Securities and Exchange Commission allegations of accounting misdeeds, setting back CEO Larry Culp’s effort to put the company’s rocky past behind it.
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Trump loses effort in appeals court to block Vance tax subpoena
By Bob Van Voris and Chris Dolmetsch      1 min read
A federal appeals panel rejected President Donald Trump’s latest bid to block the Manhattan district attorney from getting his tax filings and other financial records.
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