DAILY BRIEFING

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December 10, 2021

Prepared for Voornaam

IRS rolls out more e-filing forms for nonprofits as systems lag

By Michael Cohn       7 min read

The Internal Revenue Service is asking more charities and tax-exempt organizations to file their information returns electronically as required by the Taxpayer First Act of 2019, but its aging systems are experiencing delays that are frustrating tax professionals. View story →

Taking CAS to the next level

By Daniel Hood       3 min read

Making the most of this booming service line requires firms to rethink everything from partner comp to client strategies. View story →

RELATED

Will 2022 be the year of the accountant? →

The IMA hopes that next year the public will come to view accountants as action heroes, helping them meet the many difficulties confronting society.

A year-end business compliance checklist

By Nellie Akalp      

As the end of the year approaches, it’s time for your business clients to take stock of — and tackle — any outstanding business compliance tasks. View story →

Will 2022 be the year of the accountant?

By Michael Cohn       6 min read

The IMA hopes that next year the public will come to view accountants as action heroes, helping them meet the many difficulties confronting society. View story →

Finance leaders back ESG standards

By Michael Cohn       4 min read

Consistent environmental, social and governance standards are gaining support internationally, according to a new poll. View story →

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Tax Fraud Blotter: Rough landings

By Jeff Stimpson       6 min read

Just make up employees; working from home; distrust; and other highlights of recent tax cases. View story →

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KPMG global revenue grew 10% to $32.13B in FY21

By Michael Cohn       2 min read

KPMG International reported the annual aggregated revenues of its member firms around the world grew 10% to $32.13 billion for the fiscal year ending Sept. 30, 2021. View story →

Secret millions exposed in twist to billionaire art estate saga

By Gaspard Sebag       4 min read

The Wildenstein family’s most vociferous critic stands accused of something she has denounced all along — tax evasion. View story →

Libor fix wins House support in drive to avert market chaos

By Erik Wasson and William Shaw       3 min read

The House approved one of the final key steps aimed at guaranteeing an orderly transition from the discredited benchmark.  View story →

M&A roundup: Crowe combines with Briggs & Veselka

By Michael Cohn      

Two Top 100 Firms combine; and PKF O’Connor Davies added LB Goodman & Co. View story →

Canopy raises $35M in latest funding round

By Danielle Lee       2 min read

The investment will be used to accelerate the practice management software provider's mission to become the default operating system for accounting firms, according to CEO Davis Bell.  Read story →

Tax planning to help frontline medical workers

By Bryan Cannon       3 min read

Practitioners can serve medical workers well by encouraging them to take the necessary time to establish a long-term tax plan. Read story →

SALT deal eludes Democrats as millionaires cut from tax break

By Laura Davison       3 min read

Key negotiators continue to clash over the specific income limits for one of the unresolved issues in President Joe Biden’s economic agenda. Read story →

These stock options deserve the SEC’s scrutiny

By Michelle Leder       3 min read

Corporate directors and executives aren’t supposed to use privileged information about their companies to enrich themselves at the investing public’s expense. Read story →

Senate Democrats face deadline pressure on ‘Build Back Better’ bill

By Steven T. Dennis, Laura Litvan and Laura Davison       3 min read

One key holdout — Senator Joe Manchin — said he’s skeptical he can vote for a bill that includes major economic changes. Read story →

RESOURCES

WEB SEMINAR

The year ahead

Tuesday, December 14, 2021 2:00 PM EST

Explore firms’ plans for 2022, from hiring and technology spending, to growth strategies, potential M&A, new service offerings and more. Learn More →

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How to get a handle on tax information reporting this season

Identify the most common obstacles related to year-end-reporting, followed by the best practices to help your business. Download Now →

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The accountant’s guide to managing supply chain disruption

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