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July 19, 2021

Prepared for Voornaam

IRS offers advice on cost-sharing agreements and stock-based comp

By Michael Cohn       2 min read

The Internal Revenue Service’s Office of Chief Counsel posted a memorandum on cost-sharing agreements with reverse clawback provisions and their implications for transfer pricing arrangements and stock-based compensation. View story →

On the move: Armanino enters NYC

By Daniel Hood      

The Top 25 Firm establishes its presence on the East Coast; a cannabis conference for Mid-Atlantic CPAs; and more firm and personnel news from across the accounting profession. View story →

RELATED

LGBTQIA employees leaving accounting profession →

Nearly one out of five accountants who identified as LGBTQIA left the accounting profession because of a lack of diversity, equitable treatment or inclusion, according to a recent study.

New IMA chair McNally embraces global focus

By Michael Cohn       6 min read

The Institute of Management Accountants officially appointed J. Stephen McNally as chair of the IMA’s global board of directors, and he plans to focus on the organization’s growing presence internationally. View story →

Cryptocurrency and donor-advised funds: Talk to clients about donating digital currency

By Andrew Hastings       3 min read

At your next meeting with clients who express a strong interest in philanthropy, discuss ways to optimize their charitable giving by donating appreciated crypto with a DAF. View story →

Real estate accounting tech company Proper raises $9M in funding

By Michael Cohn       2 min read

Proper, a San Francisco-based provider of automated accounting and bookkeeping services for real estate property managers, has scored $9 million in Series A funding from investors. View story →

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Ripple Labs can question former SEC official in suit over XRP

By Chris Dolmetsch       2 min read

Ripple has said the SEC can’t regulate XRP because, as a virtual currency used in international and domestic transactions, it’s a medium of exchange and not a security. View story →

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3 reasons prospects ignore your firm's marketing

By Jon Hubbard       3 min read

Accounting firms’ most common mistakes involve focusing on themselves, not their clients. View story →

Tax Fraud Blotter: Next on the docket

By Jeff Stimpson       5 min read

Rage against the Machine; property casualty; herbal remedy; and other highlights of recent tax cases. View story →

SALT relief may win inclusion in Senate Democrats budget package

By Laura Davison and Colin Wilhelm       2 min read

Democrats may include at least a partial expansion of the state and local income tax deduction in the $3.5 trillion budget outline that Senate Democrats agreed upon this week. View story →

Work-life balance improves audits, but not job satisfaction

By Michael Cohn       2 min read

Auditors don’t put much emphasis on work-life balance, but the quality of their audits tends to suffer if that balance is absent, according to a recent study. View story →

SEC intensifies scrutiny of crypto

By Michael Cohn       5 min read

The Securities and Exchange Commission is ramping up enforcement against cryptocurrency providers, as the Internal Revenue Service has also stepped up investigations and compliance efforts. Read story →

The role of relationships in advisory services

By Amy Vetter       3 min read

It's crucial not to overlook relational accounting.  Read story →

IRS urges tax pros to beef up security this summer

By Michael Cohn       5 min read

The Internal Revenue Service has launched a campaign this summer to persuade tax professionals to improve their cybersecurity amid an escalating series of ransomware attacks around the world. Read story →

IRS begins distributing monthly child tax credit payments

By Michael Cohn       6 min read

The IRS and the Treasury started disbursing advance monthly payments Thursday of the expanded Child Tax Credit in a program that aims to lift millions of families out of poverty.  Read story →

How CPAs can survive cash flow peaks and valleys

By Prashant Fuloria       5 min read

While CPAs have provided crucial financial counsel to clients navigating economic uncertainty, it does not mean they themselves are out of the woods. Read story →

RESOURCES

WEB SEMINAR

Why lease accounting software systems fail: 9 key functional deficiencies driving companies to replace ASC 842 software

Wednesday, July 21, 2021 2:00 PM EDT

Adoption of ASC 842 was challenging enough. No company implemented new lease accounting software expecting to replace it just a couple of years later. But many are doing just that.  Learn More →

SPONSOR CONTENT FROM COSTAR

WEB SEMINAR

Bankers and accountants in the anticipation economy

Thursday, August 12, 2021 2:00 PM EDT

Customers, investors, regulators and other stakeholders’ expectations of bankers are rapidly evolving, and disruptive competitors are targeting our most profitable customers.  Learn More →

SPONSOR CONTENT FROM MOODY'S ANALYTICS

EBOOK

Post-tax season 2021 survey: The “new normal” for accounting firms

A new survey reveals which changes accounting firms made to their businesses in 2020—and which will be permanent.  Download Now →

SPONSOR CONTENT FROM RIGHT NETWORKS

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