DAILY BRIEFING

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June 2, 2021

Prepared for Voornaam

The accountant’s survival trap: 10 ways to escape

By Chase Birky      

Accountants can get caught up in and endless "busy season," but this serves neither the professional nor the client.  View story →

States challenge American Rescue Plan’s tax cut ban

By Roger Russell       3 min read

They claim the provision to prevent them from using federal money to fund lower taxes is unconstitutional. View story →

RELATED

COVID didn’t derail FAF, FASB and GASB →

The foundation’s annual report highlights the boards’ efforts to support stakeholders in the pandemic.

Big tax bills to hit even modest inheritances if step-up in basis narrows

By Lynnley Browning       5 min read

"Inheritors are going to get killed" under the White House’s proposal to put the brakes on tax-free intergenerational transfers of wealth. View story →

PwC US expands transgender-related health care benefits

By Sean McCabe       1 min read

To mark the start of LGBTQ+ Pride Month, the Big Four firm announced it is increasing its lifetime maximum for transgender-related health care coverage from $25,000 to $75,000, effective July 1. View story →

Wipfli adds Mueller Prost

By Michael Cohn       2 min read

The Top 20 Firm based in Milwaukee, has merged in a Regional Leader headquartered in St. Louis. View story →

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Art of Accounting: Getting started with writing

By Edward Mendlowitz, Sidney Kess       9 min read

Writing something that people would want to read is essential to establishing yourself as an expert, publicizing your practice, sharing what you know and your experience, and learning more about your topic.  View story →

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Search is on for leaders of future sustainability standards board

By Michael Cohn       2 min read

The IFRS Foundation is looking for a chair and vice-chair of a board that will set global ESG reporting standards. View story →

TCJA int'l tax rules proved onerous for multinationals

By Michael Cohn       3 min read

A GAO report finds that the regulations were burdensome for multinational companies, even though they saved through lower tax rates. View story →

GASB proposes to ease requirements for accounting changes, error corrections

By Michael Cohn       1 min read

The Governmental Accounting Standards Board issued a proposal to improve the accounting and financial reporting requirements for state and local governments. View story →

Global tax deal may not come until October

By William Horobin       1 min read

A full global deal to overhaul taxation rules may not be achieved until October, said the chief of the OECD. View story →

Biden tax plan forecast to bring in $3.6T in a decade

By Laura Davison, Allyson Versprille and Michael Rapoport       4 min read

The administration is looking for big money from a higher corporate tax rate and better IRS enforcement. Read story →

Tech news: Updating CPA exam prep material, and more

By Ranica Arrowsmith      

Red Wing Software releases v. 16, Bookkeep and Accounting Seed get investments.  Read story →

Biden budget calls for spending surge fueled by higher taxes

By Justin Sink       8 min read

The proposal includes a call for a surprise retroactive hike in the capital gains tax. Read story →

Tax pros try to build post-season client pipelines

By Jeff Stimpson       3 min read

While some are scouting for prospects, others are still recovering. Read story →

COVID didn’t derail FAF, FASB and GASB

By Daniel Hood       3 min read

The foundation’s annual report highlights the boards’ efforts to support stakeholders in the pandemic. Read story →

RESOURCES

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GASB 87: Capture, collect and comply

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REPORT

Top 200 growth industries from 2021 to 2026

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