DAILY BRIEFING

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September 16, 2021

Prepared for Voornaam

Senators introduce disaster tax relief bill backed by AICPA

By Michael Cohn       3 min read

Lawmakers proposed bipartisan legislation in the Senate to allow the Internal Revenue Service to postpone filing deadlines when a state-level disaster declaration is issued, rather than waiting for the federal government. View story →

10 key benefits of hiring employees with disabilities

By Randy Crabtree      

It can help firms and clients improve their bottom line, while boosting diversity, team morale and community relations.  View story →

Grant Thornton picks new CEO-elect

By Michael Cohn       2 min read

The Top Eight Firm's partnership board chose Seth Siegel as the firm’s next CEO, succeeding Brad Preber on Aug. 1, 2022. View story →

FASB proposes changes in fair value measurement of equity securities

By Michael Cohn       2 min read

The amendments aim to improve the comparability of financial information from companies with investments in equity securities.  View story →

Tax hikes to pay for Biden agenda approved by House committee

By Erik Wasson, Kaustuv Basu and Allyson Versprille       5 min read

The biggest set of U.S. tax increases in a generation took a major step forward on Wednesday. View story →

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New disclosures under CECL require careful attention

By Mary Ellen Biery       7 min read

Boards, shareholders, and auditors alike will want to know CECL’s impact.  View story →

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ADP improves RUN payroll system, adds vaccine tracking

By Michael Cohn       3 min read

ADP has updated its payroll and HR software with new user design, artificial intelligence and machine learning features, as well as employee vaccine tracking. View story →

Cal State Fullerton adds School of Accountancy

By Sean McCabe       1 min read

California State University Fullerton’s Department of Accounting announced it has attained school status, making its School of Accountancy one of only four in the state. View story →

Top Dem says Biden inheritance-tax plan short of votes

By Colin Wilhelm       3 min read

The proposal to end the step-up in basis was already facing obstacles before it was left out of draft legislation. View story →

Dems, Yellen working on new bank reporting to IRS

By Allyson Versprille       2 min read

The measure could be used to pay for a modification of the cap on the federal deduction of state and local taxes. View story →

Treasury work blunted with many key posts unfilled

By Saleha Mohsin       5 min read

Janet Yellen has one of the biggest to-do lists in Washington: usher in a global tax overhaul, press Wall Street on climate change and distribute billions of dollars in COVID relief. Read story →

Tech news: TPS injects dog humor into practice management software, and more

By Ranica Arrowsmith      

Expensify Card now offers cash back, and Corvee launches tax planning strategy deep dive webinar series.  Read story →

In the blogs: Now the fun begins

By Jeff Stimpson       2 min read

Buyback fallacy; change proposed for quarterly taxes; solidifying client relationships; and other highlights from our favorite tax bloggers. Read story →

IRS closing paper tax return processing center in Fresno

By Michael Cohn       2 min read

Taxpayers and tax professionals in some Western states will need to begin using a new mailing address.  Read story →

The pandemic drives a need for better, deeper forecasting and analysis

By Michael Cohn       4 min read

Predictive analytics, combined with knowledge of the business and scenario planning, can help organizations make better forecasts. Read story →

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