The Internal Revenue Service is offering less generous settlement terms to participants in micro-captive insurance schemes as part of its clampdown on the transactions.
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October 23, 2020
Upcoming Events October 23, 2020
Daily Briefing
IRS tightens settlement terms for micro-captive schemes
By Michael Cohn      3 min read
The Internal Revenue Service is offering less generous settlement terms to participants in micro-captive insurance schemes as part of its clampdown on the transactions.
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PwC develops tax-planning, ESG and learning apps
By Michael Cohn      3 min read
PricewaterhouseCoopers is testing out three new apps for its clients to use for tax planning; environmental, social and governance reporting; and upskilling their employees.
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Mazars rebranding highlights global scope
By Daniel Hood      3 min read
The international firm aims to raise its profile with large, multinational clients.
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IRS lets tax pros fax Form 8918 for material advisor disclosures
By Michael Cohn      2 min read
The Internal Revenue Service is now allowing tax advisors and taxpayers to fax the Form 8918, Material Advisor Disclosure Statement, as part of its response to the novel coronavirus pandemic.
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Accounting advisory business basics
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Tax Fraud Blotter: Refunds, rebates, remanded
By Jeff Stimpson      5 min read
Gone Pro’s; various ways to fraud; oxymoron; and other highlights of recent tax cases.
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Jackson Hewitt to hire 22K for tax season
By Jeff Stimpson      1 min read
The tax prep chain will be participating in two National Hiring Weeks, starting Oct. 26 and Nov. 16.
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AAA decries interference in CECL standard under CARES Act
By Michael Cohn      2 min read
The American Accounting Association has issued a rare rebuke to Congress criticizing government interference in accounting standards.
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When surrounded by risk, GRC automation can help
By Kimberly Ellison-Taylor      4 min read
Within corporate environments, accountants are essential team members when it comes to governance, risk and compliance, especially during the pandemic.
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IRS drafts instructions for Form 1065 partnership income reporting
By Michael Cohn      3 min read
The Internal Revenue Service released an early draft of the instructions with revised directions for how partnerships should report capital accounts and tax basis capital for partners on Schedule K-1.
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2020's impact on the hiring market for accountants
By Ted Bickford      3 min read
Before the pandemic, accounting and finance professionals actively searched for better opportunities. Once the pandemic hit, employees worried about company layoffs and hesitated to seek new opportunities.
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