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May 17, 2021

Prepared for Voornaam

IRS starts refunds for tax returns claiming unemployment benefits

By Michael Cohn       5 min read

The Internal Revenue Service is starting to provide tax refunds to taxpayers who paid taxes on their 2020 unemployment benefits that recent legislation later excluded from taxable income.  View story →

On the move: Baker Tilly names new chief of staff

By Danielle Lee      

Indiana CPA Society participates in virtual CPA Week; BKD releases benchmarking tool for higher education institutions; and more CPA news.  View story →

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Firms giving back: Anders CPAs raises $11.5K

By Sean McCabe      

Chicago CPA Jeff Badu launches his own nonprofit to serve local youth, and the Indiana Society of CPAs holds its 2021 Spring CPA week. View story →

Tech news: Financial Cents builds out practice management software, and more

By Ranica Arrowsmith      

Lukka names new head of data and analytics, Kaplan deploys CGMA learning resources, and Intapp buys in Belfast.  View story →

Diversity efforts falling short in accounting and finance

By Michael Cohn       9 min read

There are some strategies organizations can use to hold onto diverse employees.  View story →

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'Managed dissatisfaction' during tax season

By Kyle Walters       4 min read

If you think clients don’t notice when you ignore their messages or send them terse responses days after they’ve reached out to you, think again. View story →

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Xero partners with Black professional groups to boost opportunity

By Ranica Arrowsmith       2 min read

The move comes after a significant surge in public support for the Black Lives Matter movement in 2020 following the murder of George Floyd. View story →

GOP senators see possible infrastructure deal after Biden talks

By Josh Wingrove, Erik Wasson and Jennifer Jacobs       4 min read

Republican senators say they’re encouraged about the prospects for a deal with President Biden on his $2.25 trillion infrastructure proposal after an Oval Office meeting but want to exclude any move to roll back the 2017 tax cuts to help pay for the package. View story →

Tax Fraud Blotter: Bed of nails

By Jeff Stimpson       6 min read

Royal pain; collect yourself; hard Impact; and other highlights of recent tax cases. View story →

Improper payments for refundable credits prove hard to combat for IRS

By Michael Cohn       4 min read

The EITC, the ACTC and the ACTC continue to be abused, even as they become more generous. View story →

PCAOB proposes new rule for inspecting foreign audit firms

By Michael Cohn       4 min read

The Public Company Accounting Oversight Board has proposed a rule for implementing a recent law that penalizes foreign companies whose auditing firms can’t be inspected by the PCAOB.  Read story →

Spring clean your startup client’s financials

By Nathan Liao       3 min read

There's a lot more to think about than just organizing their financial reports and getting their bills paid. Read story →

Will Biden’s IRS be coming after your clients?

By Alexis Leondis       3 min read

Most at risk are taxpayers whose earnings aren’t reported to the IRS by an outside source like an employer or brokerage firm. Read story →

Biden-GOP optimism on infrastructure tempered by tax divide

By Jordan Fabian, Jennifer Epstein and Josh Wingrove       5 min read

The president and Republican congressional leaders see a narrow opening for compromise on infrastructure spending yet significant obstacles remain, particularly on tax increases. Read story →

Think renovation, not innovation

By Dr. Chandra Bhansali       3 min read

Renovating your accounting practice is easier and can produce spectacular results. Read story →

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