DAILY BRIEFING

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January 12, 2022

Prepared for Voornaam

AICPA's Melancon concerned about IRS bottlenecks

By Michael Cohn       12 min read

Barry Melancon is warning that the backlog at the service threatens to make this tax season a difficult one for tax professionals and their clients. View story →

This pandemic tax filing season is 'dumpster fire 2.0'

By Lynnley Browning       6 min read

With Jan. 24 the earliest date to file and most federal returns due April 18, here’s what you need to know.  View story →

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Higher earners may owe more to Uncle Sam for 2022, even without tax increases →

Inflation and higher wages can push earners up a tax bracket, while unchanged deductions can spark bigger tax bills.

A grandparents’ guide to funding college

By Roger Russell       3 min read

Understanding how gifted money will impact the student’s FASFA is critical. View story →

Wake Forest, Fairfield grads see highest Big Four employment rate

By Sean McCabe       2 min read

Over a quarter of Wake Forest accounting grads end up at one of the four largest firms. View story →

IRS adds new members to Advisory Council

By Jeff Stimpson       4 min read

The nine new representatives represent a wide range of stakeholder constituencies. View story →

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Audit chiefs see corporate governance declining

By Michael Cohn       2 min read

Corporate governance received a grade of B- and has slipped over the past year, according to a new survey of chief audit executives. View story →

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RSM global revenue grows 15.8% to $7.26B

By Michael Cohn       3 min read

The network saw rising demand from business clients needing help with recovering from the pandemic. View story →

Tax leaders looking for better tech skills

By Michael Cohn       3 min read

The vast majority of tax and finance leaders see a need for improved technology and data skills in their employees, according to a new international survey. View story →

Crypto firms gear up for battles over new rules in Washington

By Joe Light       4 min read

The crypto industry is flooding Washington with money, snapping up lobbying firms, and building up their trade associations in an effort to curb new rules. View story →

KPMG says it misled U.K. audit watchdog over Carillion

By Katharine Gemmell       2 min read

Six former employers at the auditing giant are accused of acting “with a lack of integrity in dishonestly or recklessly misleading the regulator.”  View story →

In the blogs: What a world

By Jeff Stimpson       4 min read

Accountants go meta; muddy start to the season; the controller as preparer; and other highlights from our favorite tax bloggers. Read story →

Treasury says be ready for frustration this tax season

By Laura Davison       3 min read

When filing season begins in two weeks, taxpayers should be prepared for delays as returns and refunds are processed, and for difficulties in reaching the IRS. Read story →

PCAOB’s new chair sworn in

By Michael Cohn       2 min read

The board has a new leader, Erica Williams, after its new chair was sworn in Monday by the Securities and Exchange Commission in a virtual ceremony. Read story →

NJCPA names 2022 Student Loan Debt Lottery winners

By Sean McCabe       2 min read

The New Jersey Society of CPAs awarded $1,200 each to 10 more of its members to help offset tuition costs in the program's second year. Read story →

Prager Metis sets up first CPA firm in metaverse

By Michael Cohn       4 min read

The firm, which in real life is based in New York, is setting up shop in Decentraland, a 3D virtual world, as part of a joint venture with Banquet LLC, a metaverse studio. Read story →

RESOURCES

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Tax season kickoff

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