DAILY BRIEFING

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June 8, 2021

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IRS mailing millions of letters about Child Tax Credits

By Michael Cohn       4 min read

The Internal Revenue Service is sending letters to over 36 million families about how they may be able to qualify for monthly Child Tax Credit payments, beginning in July. View story →

NYSSCPA elects first woman of color as president

By Sean McCabe       2 min read

The New York State Society of CPAs announced that Rumbi Bwerinofa-Petrozzello will serve as the 102nd president of the organization. View story →

RELATED

Mass. Society awards $145.5K in scholarships →

Thirty-two local students will receive funds from the program for aspiring to be the "next generation of CPAs."

The PPP and the future beyond the pandemic

By Daniel Hood      

Barry Melancon of the AICPA and Erik Asgeirsson of CPA.com review the successes of the Paycheck Protection Program, and how accountants should be thinking about the future to guide their clients out of the pandemic. View story →

Art of Accounting: Partner meetings

By Edward Mendlowitz       4 min read

Partner retreats are a hot topic this time of year, with planning for a summer or late October meeting.  View story →

KPMG launches free corporate board diversity tool

By Sean McCabe       2 min read

The KPMG Board Diversity Disclosure Benchmarking Tool lets corporate leaders, investors, staff and other professionals compare diversity board practices by sector, index and company size. View story →

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HR copes with tax challenges of remote work

By Michael Cohn       5 min read

The work-from-home environment is producing tax complexities for companies and their human resources departments. View story →

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SD Mayer to merge in TNT

By Michael Cohn       2 min read

The San Francisco-based firm is expanding to Redwood City, California. View story →

Amanda Aguillard named COO of Padgett

By Ranica Arrowsmith       2 min read

Padgett Business Services, a business and accounting consulting firm, has named Amanda Aguillard its new chief operating officer. View story →

Global tax floor at 15% is significant step, says OECD sec gen

By William Horobin       2 min read

Small countries, including Ireland, have expressed concern about a global deal that could undermine their efforts to attract multinationals. View story →

Big tech watches tide turning on taxes after its years of plenty

By Nico Grant and William Horobin       4 min read

A tax deal between the world’s richest countries brings global governments a step closer to clawing back some power from technology giants that have used century-old regimes to build up wealth eclipsing the economies of most nations. View story →

G-7 strikes deal to revamp tax rules for biggest companies

By Saleha Mohsin and William Horobin       4 min read

The club of rich nations secured a landmark deal that could help them collect more taxes and impose levies on U.S. tech giants such as Amazon and Facebook. Read story →

Shakeup at the PCAOB: SEC removes Duhnke, plans new board members

By Michael Cohn       4 min read

The SEC abruptly fired William Duhnke as chairman of the Public Company Accounting Oversight Board. As part of the shakeup, PCAOB board member Duane DesParte will become acting chair, but the SEC plans to replace the entire slate of board members. Read story →

Hong Kong’s auditor watchdog calls for major improvements

By Kiuyan Wong       2 min read

Almost three-quarters of inspections showing sub-par work, according to the watchdog. Read story →

Nearly half of firms say COVID-19 spurred innovation, growth: Study

By Sean McCabe       2 min read

A new report from the Association for Accounting Marketing and the Hinge Research Institute found that the last year-plus had a positive impact on firms by accelerating key tech and process changes. Read story →

G-7 nears deal on minimum tax, still talking on tech levies

By Alessandra Migliaccio, Saleha Mohsin, William Horobin and Alex Morales       3 min read

Group of Seven governments are nearing a deal to pursue a minimum corporate tax rate of at least 15% in international negotiations, but remain at odds over how to treat global technology companies. Read story →

RESOURCES

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