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July 16, 2021

Prepared for Voornaam

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.  View 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. View story →

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IRS adds thousands of auditors →

The service is gearing up for a potentially massive tax-enforcement push if Congress passes a plan including $40 billion to expand audits on the wealthy.

The role of relationships in advisory services

By Amy Vetter       3 min read

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

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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. View story →

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Democrats tout child tax credits in ad blitz aimed at key states

By Kenneth P. Doyle       3 min read

Democratic leaders want voters in key states to know which party is responsible for the checks Americans with young children are set to start receiving on Thursday. View story →

Biden looks to corral Democrats on $3.5T Senate plan

By Jordan Fabian and Erik Wasson       4 min read

President Joe Biden urged Senate Democrats to act boldly on his sweeping social and economic agenda Wednesday, as they began hashing out details of an $3.5 trillion tax and spending agreement that marks a crucial step forward for his plan.  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 →

Democrats propose tax on carbon-intensive imports in budget deal

By Jennifer A. Dlouhy and Ari Natter       2 min read

Senate Democrats are moving to impose tariffs on carbon-intensive imports as a way to help pay for their tax-and-spending legislation, according to one person familiar with the plan. View story →

After Binance solicits praise from U.S. agencies, DOJ says stop

By Tom Schoenberg       3 min read

The cryptocurrency exchange has been touting letters from IRS and FBI agents praising its cooperation.  Read 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. Read story →

Ivix receives $13M in funding to help fight tax evasion

By Michael Cohn       2 min read

The Israeli technology company is advised by former IRS officials and current PwC execs. Read story →

Dean Dorton acquires data analytics firm

By Michael Cohn       2 min read

The Regional Leader has bought Breakpoint Technology, a data analytics and technology collaboration practice in Louisville, Kentucky. Read story →

Xero introduces AI-powered analytics tool

By Ranica Arrowsmith       2 min read

The offering comes at a time when business’ appetites for strong data insights are renewed, following the difficult pandemic year. Read story →

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