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July 20, 2021

Prepared for Voornaam

IRS opens tax pro accounts

By Michael Cohn       4 min read

The Internal Revenue Service has begun offering online Tax Pro Accounts that practitioners can use for submitting an authorization request to an individual client’s own taxes online with the IRS. View story →

Intuit withdraws TurboTax from Free File Alliance

By Michael Cohn       3 min read

Intuit has decided to leave the Free File Alliance after coming under criticism for making it difficult to access a truly free version of TurboTax. View story →

RELATED

IRS opens tax pro accounts →

The Internal Revenue Service has begun offering online Tax Pro Accounts that practitioners can use for submitting an authorization request to an individual client’s own taxes online with the IRS.

'Dear Accountant:' Lessons from the profession

By Daniel Hood      

Author and CPA CeCe Leung shares what she learned from telling the stories of pioneering accountants in her book, "Dear Accountant." View story →

Art of Accounting: Continuous growth

By Edward Mendlowitz       3 min read

Our currency is what we know, along with our ability to use it to help our clients. View story →

M&A roundup: Withum and Whitley Penn expand

By Michael Cohn      

Withum merged in OUM; and Whitley Penn plans to add Werlein & Harris. View story →

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FASB updates leases standard for variable lease payments

By Michael Cohn       2 min read

The Financial Accounting Standards Board released an accounting standards update Monday to help lessors account for leases with variable lease payments. View story →

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PCAOB honors 2021-2022 academic scholars

By Sean McCabe       1 min read

The Public Company Accounting Oversight Board announced that 253 U.S. students have received $10,000 scholarships to fund their paths to becoming auditors. View story →

Catch a rising star: Recruiting and retaining new graduates

By Jeannie Ruesch       4 min read

Four tips for connecting with the next generation of accountants. View story →

GASB proposes guidance on range of topics

By Michael Cohn       1 min read

The exposure draft covers various accounting and financial reporting issues that were identified during implementation, application and due process on GASB standards.  View story →

Infrastructure bill to drop tax enforcement, GOP senator says

By Erik Wasson and Ian Fisher       2 min read

The increased funding for the IRS as a way to boost tax revenue was dropped after it emerged that Democrats intend to include the measure in their bigger budget bill. View story →

Schumer sets crucial test for action on infrastructure, spending

By Steven T. Dennis and Laura Litvan       4 min read

The Senate Majority Leader will take a preliminary step Monday that would lead to a first test vote on the infrastructure plan by Wednesday. He set the same day as a deadline for all Senate Democrats to unite behind a budget blueprint. Read 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. Read story →

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. Read story →

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. Read 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. 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 →

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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

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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 →

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