DAILY BRIEFING

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September 8, 2021

Prepared for Voornaam

Did the TCJA reduce wealth inequality?

By Roger Russell       3 min read

One measure in particular — home values — suggests it may have shifted some relative wealth down the income scale.  View story →

8 strategies for getting ahead of the Great Resignation

By Sandra L. Wiley      

Accounting firms need to get ahead of the wave of employee turnover that's looming on the horizon. View story →

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Generational Viewpoints: Developing people developers →

Accountants of different generations from Casey Peterson share what they think are the important attributes of great people developers.

New model W-2 language for sick and family leave wages

By Jeff Stimpson       1 min read

Guidance in Notice 2021-53 from the IRS will help employers with the ‘Instructions for Employee’ and other statements. View story →

Sovos buys 1099 Pro

By Ranica Arrowsmith       2 min read

This is the third acquisition Sovos has made this fiscal year. View story →

Biden's tax increases: Drama in the shifting state of play

By Lynnley Browning       5 min read

Fighting among Democratic lawmakers over proposed hikes in individual and capital gains taxes is intensifying, creating more questions and opportunities for advisors.  View story →

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COVID led to big backlogs, bad penalties for biz returns: TIGTA

By Daniel Hood       2 min read

Unprocessed paper-filed business returns jumped from 239,285 to 7.9 million. View story →

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In the blogs: Let’s be honest

By Jeff Stimpson       3 min read

Assessing the delays; myths about preparers;the numbers behind the season;and other highlights from our favorite tax bloggers. View story →

Tax relief for disaster victims in California, Tennessee

By Jeff Stimpson       2 min read

The IRS is giving those affected by recent wildfires and floods extra time to file. View story →

Art of Accounting: Using time most propitiously

By Edward Mendlowitz       6 min read

Become adept at using your time effectively and profitably at your firm. View story →

Senate Democrats eye taxes on stock buybacks, excess CEO pay

By Kaustuv Basu and Steven T. Dennis       4 min read

Senate Democrats are discussing a wider range of tax proposals than President Joe Biden has proposed, including levies on stock buybacks, carbon emissions and executive compensation, as part of a package of measures to help fund a ramping up in social spending. View story →

IRS updates per diem rates for travel expenses for 2021-2022

By Michael Cohn       2 min read

The service has issued Notice 2021-52 with special per diem rates that take effect Oct. 1, 2021.  Read story →

The tax disadvantages of a life insurance sale, and a better alternative

By Grace Bronstein       4 min read

Even professionals such as accountants and attorneys who may serve as trustees are unaware of the numerous risks that life insurance policies carry.  Read story →

On the move: Weaver promotes pair of partners in charge

Grant Thornton adds to fraud and forensics practice; IMA names VP of research and thought leadership; and more CPA news.  Read story →

Fund managers feel heat in SEC crackdown on overblown ESG labels

By Ben Bain and Saijel Kishan       4 min read

U.S. regulators have long said they’re dubious about the green and socially conscious labels that Wall Street applies to $35 trillion in so-called sustainable assets. Now, the watchdogs are hunting for proof that they’re right. Read story →

Kraft Heinz to pay $62M to settle SEC accounting probe

By Matt Robinson       1 min read

The company settled claims that it engaged in an expense-management scheme that resulted in inflated earnings.  Read story →

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