DAILY BRIEFING

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September 7, 2021

Prepared for Voornaam

5 reasons staff are leaving your firm

By Chase Birky      

People are fed up with being treated like a machine in an assembly line. View story →

On the move: Weaver promotes pair of partners in charge

Grant Thornton adds to fraud and forensics practice; IMA names VP of research and thought leadership; and more CPA news.  View story →

RELATED

CalCPA names new president and CEO →

Denise LeDuck Froemming will take the helm on Oct. 18, 2021.

Tech news: Expensify’s charitable arm awards $25K to 10 grassroots orgs, and more

By Ranica Arrowsmith      

Upgrade closes $105M Series E funding round, and Gotransverse joins telecomm industry association.  View story →

IRS updates per diem rates for travel expenses for 2021-2022

By Michael Cohn       2 min read

The service has issued Notice 2021-52 with special per diem rates that take effect Oct. 1, 2021.  View story →

The tax disadvantages of a life insurance sale, and a better alternative

By Grace Bronstein       4 min read

Even professionals such as accountants and attorneys who may serve as trustees are unaware of the numerous risks that life insurance policies carry.  View story →

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Art of Accounting: Using time most propitiously

By Edward Mendlowitz       6 min read

Become adept at using your time effectively and profitably at your firm. View story →

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Employers added 235K jobs in August, including 4.4K in accounting

By Michael Cohn       3 min read

The unemployment rate declined, but the jobs report fell far short of economist expectations.  View story →

Kraft Heinz to pay $62M to settle SEC accounting probe

By Matt Robinson       1 min read

The company settled claims that it engaged in an expense-management scheme that resulted in inflated earnings.  View story →

Senate Democrats eye taxes on stock buybacks, excess CEO pay

By Kaustuv Basu and Steven T. Dennis       4 min read

Senate Democrats are discussing a wider range of tax proposals than President Joe Biden has proposed, including levies on stock buybacks, carbon emissions and executive compensation, as part of a package of measures to help fund a ramping up in social spending. View story →

Fund managers feel heat in SEC crackdown on overblown ESG labels

By Ben Bain and Saijel Kishan       4 min read

U.S. regulators have long said they’re dubious about the green and socially conscious labels that Wall Street applies to $35 trillion in so-called sustainable assets. Now, the watchdogs are hunting for proof that they’re right. View story →

Tax Fraud Blotter: No free lunch

By Jeff Stimpson       5 min read

Everybody’s All-American thief; getting a new kind of number; out of a job; and other highlights of recent tax cases. Read story →

Eide Bailly CIO becomes new ITA chair

By Ranica Arrowsmith       1 min read

The ITA has named its new board.  Read story →

Hedge fund founder to pay IRS billions in back taxes

By Zachary R. Mider       2 min read

The founder of Renaissance Technologies and his colleagues will pay billions to resolve one of the biggest tax disputes in U.S. history.  Read story →

IRS extends e-signatures on dozens of tax forms through end of 2021

By Michael Cohn       4 min read

The Internal Revenue Service has extended the ability to digitally sign a wide variety of tax forms through the end of the year. Read story →

M&A roundup: CBIZ, DHG, Hawkins Ash, Meaden & Moore, and Deloitte expand

By Michael Cohn      

CBIZ acquired Shea Labagh Dobberstein; Dixon Hughes Goodman integrated Burkhart & Co.; Hawkins Ash CPAs merged in Roberts, Ritschke & Tyczkowski; Meaden & Moore acquired Long Cook & Samsa; and Deloitte added a legal services team. Read story →

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