DAILY BRIEFING

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October 6, 2021

Prepared for Voornaam

Service levels hit new lows at swamped IRS

By Roger Russell       3 min read

The agency is working on the problems, but is continually being inundated with phone calls and tax returns. View story →

NYSSCPA CEO announces retirement

By Sean McCabe       2 min read

Joanne Barry, who has served as CEO and executive director of the NYSSCPA since January 2010, will step down in May 2022. View story →

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KPMG invests $1.5B in multiyear ESG program

By Sean McCabe       3 min read

The Big Four firm outlined a three-year agenda focused on improving environmental, social and governance issues, training and resources for staff and clients alike. View story →

Democrats’ tax plan upends estate planning using trusts with life insurance

By Lynnley Browning       6 min read

Policies held in grantor trusts would be subject to estate tax under Democrats’ plan, the latest blow to wealth management for the affluent. View story →

Hidden tax dangers and benefits of a remote workforce

By Jennifer Stein       5 min read

For accounting offices and mobility leaders, the realities of managing a remote workforce, both positive and negative, are setting in. View story →

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Private companies continue to delay lease accounting implementation

By Michael Cohn       5 min read

Privately held companies are putting off implementation of the new lease accounting standard, even as the effective date approaches. View story →

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Warren Buffett’s secret to accomplishing what’s most important

By Kyle Walters       4 min read

Three steps can help you become more effective at your firm. View story →

Small biz hiring slowed in September

By Michael Cohn       3 min read

While small businesses continued to add jobs in September, the pace of hiring slowed, according to a new report from payroll giant Paychex. View story →

In the blogs: The ‘fun’ in ‘funding’

By Jeff Stimpson       3 min read

What pros are making; getting clients to pay; keeping the SALT cap; and other highlights from our favorite tax bloggers. View story →

Chargebee acquires RevLock

By Michael Cohn       2 min read

Chargebee, a subscription billing and revenue management software company, has bought RevLock, a revenue recognition software developer. View story →

GRI revises universal sustainability standards, with focus on human rights

By Michael Cohn       2 min read

The Global Reporting Initiative unveiled its revised Universal Standards on Tuesday to reflect due diligence expectations for organizations to manage their sustainability impacts, including on human rights. Read story →

Biden tells progressives he’s open to means-testing

By Emily Wilkins       2 min read

Biden informed Democrats that a separate infrastructure bill would need to wait until the social welfare and tax package was complete. Read story →

SALT-cap relief faces rollback as Democrats eye less spending

By Laura Davison       3 min read

Democrats risk settling for a less generous expansion of the state and local tax deduction than previously hoped after President Joe Biden conceded that lawmakers will have to scale back his economic agenda to get it enacted. Read story →

Law firm at center of Pandora helped global rich hide money

By Blake Schmidt       4 min read

World leaders, celebrities and more used hundreds of thousands of shell companies in Panama to hide their assets and take advantage of accounting and tax loopholes. Read story →

PwC launches full-time remote work policy for U.S. staff members

By Sean McCabe       2 min read

The Big Four firm announced that nearly 40,000 professionals will be able to arrange flexible work arrangements based on their geographic location and work schedule availability. Read story →

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