CPA Never under estimate the value
Investment groups are showing record interest in the field of public accounting, leading many in the profession to look at their options while also looking inward at their business model.
Source: JOA News
Read More here – Private equity has big plans for small firms
The Service said it will release new proposed regulations and a revenue ruling to challenge the use of basis-shifting transactions used by complex partnerships in moves that could add over $50 billion to government coffers over 10 years.
Source: JOA News
Read More here – IRS moves to end ‘shell game’ of basis-shifting transactions
The IRS issued a notice extending earlier relief for a corporation’s failure to pay the part of estimated income tax attributable to the revised corporate alternative minimum tax.
Source: JOA News
Read More here – IRS gives another limited estimated corporate AMT underpayment waiver
The Big 4 accounting firm announced that it will invest $1 billion over three years in talent and technology. The investment includes a commitment to improve pay for early-career professionals.
Source: JOA News
Read More here – EY makes big investment in accounting profession
The board took three actions to update auditing standards and procedures, including the adoption of a change to an almost 20-year-old rule that tightens the standard of liability to “negligent” from “reckless” for an associated person who contributes to a firm’s violations.
Source: JOA News
Read More here – PCAOB tightens liability standard
New employee retention credit (ERC) claims continue to be filed, and the IRS still has a backlog of claims from before a processing moratorium was announced in September. National Tax Advocate Erin Collins says “soon” is the answer to when the moratorium will end. Meanwhile, some business owners sit and wait.
Source: JOA News
Read More here – 9 months into ERC claim processing moratorium, still a waiting game
The fourth cohort of the ESG and Sustainable Financial Strategy Course begins June 19, presented by the University of Oxford’s Saïd Business School and AICPA & CIMA.
Source: JOA News
Read More here – Sustainability course now offers 26.5 CPE credits
A comment letter related to a Financial Accounting Foundation review of the PCC’s effectiveness praises the impact the council makes for private company stakeholders.
Source: JOA News
Read More here – AICPA applauds the Private Company Council’s work with FASB
The proposed changes to several interpretations were identified to keep the AICPA Code of Professional Conduct “fit for purpose.”
Source: JOA News
Read More here – PEEC releases exposure drafts on recruiting and tax services
Speaking at ENGAGE, Erin Collins asks: How does the IRS fight bad tax advice on TikTok when employees are not supposed to access it?
Source: JOA News
Read More here – National taxpayer advocate: TikTok a difficult adversary for IRS
