The Internal Revenue Service has changed the calculation for determining the $10,200 exclusion on unemployment benefits in the new pandemic relief package, allowing more taxpayers to qualify, but forcing tax software developers to update their programs.
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March 25, 2021
Upcoming Events March 25, 2021
Daily Briefing
IRS expands unemployment tax exclusion to more taxpayers
By Michael Cohn      3 min read
The Internal Revenue Service has changed the calculation for determining the $10,200 exclusion on unemployment benefits in the new pandemic relief package, allowing more taxpayers to qualify, but forcing tax software developers to update their programs.
Read More
 
As companies ramp up ESG reporting, CFOs remain unconvinced
By Michael Cohn      6 min read
Finance executives are wary of efforts to report on environmental, social and governance issues, although other executives are more open to tracking issues like diversity and inclusion, according to PricewaterhouseCoopers.
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ACCA report shares experiences of women finance pros worldwide
By Sean McCabe      1 min read
Published by the Association of Chartered Certified Accountants, "Leading Inclusion: Simple Steps and Significant Leaps" details the successful journeys of women finance professionals globally.
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Quadient acquires Beanworks
By Ranica Arrowsmith      2 min read
Following the acquisition of accounts receivable automation market leader YayPay in 2020, Quadient’s acquisition of Beanworks brings advanced cloud-based AP automation capabilities to Quadient’s business communications management suite.
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Armanino and Thomson Reuters partner to help SMB tax clients
By Ranica Arrowsmith      2 min read
Separately, Armanino recently achieved certification as a B Corporation
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Florida moves closer to Wayfair nexus standard
By Mark Friedlich      5 min read
The Sunshine State seems to be on the verge of requiring more online merchants to collect sales and use taxes from customers.
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BQE Software secures growth investment for accounting suite
By Ranica Arrowsmith      2 min read
Serent Capital will also help BQE pursue strategic acquisitions in the professional services automation market worldwide.
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Biden’s likely tax wins are personal-rate hikes, audits of rich
By Laura Davison      6 min read
Democrats will likely prove successful in raising individual income tax rates and in strengthening audits of wealthy Americans as they work on overhauling the U.S. Tax Code in coming months.
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Yellen pledges to work with Congress to ease SALT cap
By Laura Davison      2 min read
The Treasury Secretary said the limitation on state and local tax write-offs causes 'disparate treatment' across taxpayers.
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Using Bitcoin to buy a Tesla? Get ready to hear from the IRS
By Olivia Raimonde and Vildana Hajric      1 min read
If you got rich buying Bitcoin a year ago, Elon Musk is inviting you to purchase one of his cars with some of the proceeds. The taxman will be watching if you do.
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RESOURCES
WEB SEMINAR
3 tips to a better peer review
The AICPA is holding Peer Reviewers more accountable, likely leading to more findings then many firms are accustomed to.
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ASC 842 – it’s time to get ready →
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Global lease accounting survey: Opportunities to optimize in 2021 →
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