DAILY BRIEFING

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September 22, 2021

Prepared for Voornaam

Tax Strategy: Will we see SECURE 2.0 enacted, and when?

By Mark A. Luscombe      

An in-depth look at the provisions being considered for the new legislation. View story →

Treasury to eye ‘clawback’ of estate and gift taxes from trusts used by the wealthy

By Lynnley Browning       6 min read

The agency will consider whether to require affluent taxpayers to pay tax on transfers to trusts made under higher exemptions that expire come 2026.  View story →

RELATED

Top Dem says Biden inheritance-tax plan short of votes →

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

Armanino expands in Southern California

By Daniel Hood       1 min read

The Top 25 Firm is expanding in its home territory by merging in Brigante, Cameron, Watters & Strong LLP. View story →

The tax troubles of travelling entertainers

By Julio Gonzalez       3 min read

From musicians and actors to athletes and film crew, local tax laws create complexity. View story →

In the blogs: Long-standing questions

By Jeff Stimpson       3 min read

Tax rates since WWII; OZs and 5G; Intuit and Mailchimp; and other highlights from our favorite tax bloggers. View story →

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The SALT limitation from a different perspective

By Robert D. Flach       3 min read

Should taxes be 'indexed for geography?' View story →

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The SALT debate could change American politics

By Karl W. Smith       3 min read

The debate of the state and local tax deduction offers clues to potential political realignment, suggests Karl Smith. View story →

Tech millionaires fear their favorite tax break will be chopped

By Ben Steverman and Kaustuv Basu       5 min read

Qualified small business stock may lose a lot of its value if congressional proposals go through. View story →

New customer comms tool integrates with QuickBooks

By Ranica Arrowsmith       1 min read

Weave, a customer communication platform for small businesses, has created an integration for QuickBooks Online to make its app an option for QBO business users. View story →

Gilded launches crypto tool for QuickBooks

By Ranica Arrowsmith       2 min read

Compass enables advanced mapping capabilities between blockchain wallets and a business’ general ledger. View story →

IRS sent thousands of premature tax collection notices during pandemic

By Michael Cohn       4 min read

The Internal Revenue Service mailed out nearly 90,000 premature notices and demands for overdue taxes to taxpayers last year, even though the filing date had been extended.  Read story →

IFAC and ACCA see need for reliable climate accounting

By Michael Cohn       5 min read

The International Federation of Accountants and the Association of Chartered Certified Accountants are marking Climate Week in New York City by urging accountants to get more involved in climate information reporting. Read story →

Black CPA Centennial honors inaugural '40 Under 40'

By Sean McCabe       2 min read

The year-long national awareness campaign recognized up-and-coming Black CPAs across the United States for their leadership and efforts in boosting diversity across the profession. Read story →

Art of Accounting: Insanity cure

By Edward Mendlowitz       4 min read

There are two kinds of staff: those who listen to you and those who do not.  Read story →

Why KPMG U.K. asks employees about their parents’ jobs

By Chris Hughes       3 min read

The firm has been analyzing its workforce by nosing around what employees’ parents used to do for a living. Read story →

RESOURCES

WEB SEMINAR

ASC 842 lease accounting: 10 best practices for day two and beyond

Wednesday, September 22, 2021 2:00 PM EDT

Adoption of ASC 842 lease accounting guidance is challenging, and most companies that have worked on compliance just want to get to a finish line.  Learn More →

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