DAILY BRIEFING

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June 25, 2021

Prepared for Voornaam

Tax season: A learning experience for all concerned

By Roger Russell       6 min read

The IRS, tax preparers and taxpayers all scrambled to keep up with a rapidly changing situation this year. View story →

COVID exposed need for IRS funding: ETAAC

By Jeff Stimpson       2 min read

The advisory committee’s annual report to Congress highlights the dangers of cutting the service’s budget. View story →

RELATED

IRS releases data on activities during COVID →

The Internal Revenue Service released a Data Book Thursday highlighting its work this past fiscal year, particularly in response to the pandemic.

IRS releases data on activities during COVID

By Michael Cohn       3 min read

The Internal Revenue Service released a Data Book Thursday highlighting its work this past fiscal year, particularly in response to the pandemic. View story →

FASB asks for feedback on future standards agenda

By Michael Cohn       2 min read

Having completed many of its major current projects, the board is looking for suggestions on what to work on going forward. View story →

How the next generation will transform the industry into advisory-first

By Jim Buffington       4 min read

Each generation leaves its mark on the way things are done, and accounting is no different. View story →

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Accountants work on supporting global vaccine effort

By Michael Cohn       3 min read

The International Federation of Accountants signed an agreement with Gavi, the Vaccine Alliance and the Global Fund to Fight AIDS, Tuberculosis and Malaria to improve accounting practices in the public health sector. View story →

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Tax Fraud Blotter: Smoked out

By Jeff Stimpson       5 min read

Faster than a speeding fraud; significant adjustments; register schmegister; smoked out; and other highlights of recent tax cases. View story →

Biden, senators get $579B bipartisan infrastructure deal

By Erik Wasson, Laura Litvan and Jennifer Epstein       5 min read

The cost of the expenditures would be offset by a variety of revenue-raising provisions, including stronger enforcement of tax collections from the wealthy.  View story →

Dead banker’s aides guilty over secret Credit Suisse stash

By Gaspard Sebag       3 min read

Late M&A banker Jean-Marc Forneri’s Swiss lawyer and wealth manager were found guilty of helping him conceal assets and dodge taxes in a French crackdown on those who facilitate financial crime. View story →

Antivirus software pioneer John McAfee dies in prison

By Monica Greig and Kartikay Mehrotra       4 min read

Facing an indictment on tax charges in the U.S., McAfee had been in Spanish custody since October. View story →

Trump remains at odds with House over document release

By Joe Schneider       2 min read

The former president and the House Oversight Committee failed to agree on the release of his financial documents after several rounds of negotiations. Read story →

Wipfli makes good on expansion plans

By Michael Cohn       7 min read

Wipfli’s latest merger is bringing the Midwest-based firm to California, but since the pandemic, it has been able to recruit talent around the world. Read story →

IIA and AuditBoard expand CIA scholarship program

By Sean McCabe       2 min read

The Institute of Internal Auditors and AuditBoard added to their Elevate Internal Audit Scholarship Program by providing merit-based scholarships for those studying for Certified Internal Auditor status. Read story →

Sustainability assurance seen as full of inconsistencies

By Michael Cohn       4 min read

Sustainability reporting standards, as well as assurance services to verify that reporting, vary widely across jurisdictions and individual practitioners and require better standardization. Read story →

The first pillar of credit and incentive projects: Location

By Ben Worrell       3 min read

Companies and their advisors first need to determine who has the authority to grant such tax benefits. Read story →

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Helping nonprofits navigate the future

Tuesday, July 27, 2021 2:00 PM EDT

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ASC 842 and GASB 87 leasing compliance: 6 steps to prepare

Thursday, July 29, 2021 2:00 PM EDT

Compliance with the lease accounting standards applies to every organization subject to the rules of the Financial Accounting Standards Board (FASB) and Governmental Accounting Standards Board (GASB), regardless of size.  Learn More →

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