Taxes
IRS Establishing New Unit to Crack Down on Tax Dodging by Pass-Throughs
Group within LB&I will be tasked with holding large partnerships and other pass-throughs accountable on tax compliance.
Jason Bramwell
Jason Bramwell is senior staff writer for CPA Practice Advisor. He has nearly 25 years of professional writing experience, the last nine covering the accounting profession. He most recently was a staff writer and editor at Going Concern, and he previously spent five years as a staff writer and editor at AccountingWEB. He can be reached by email at jbramwell@cpapracticeadvisor.com.
Read more
Auditing
Total Audit Fees Paid by S&P 500 Clients Reached All-Time High in FY 2022
However, the nearly 4% increase in audit fees over FY 2021 was less than the year-over-year inflation rate in 2022 of 6.5% in the U.S.
Firm Management
CLA Expands in New York Via Acquisition
The top 10 accounting firm now has its second location in New York after acquiring Long Island-based Richards, Witt & Charles.
Auditing
PCAOB Looks to Amend Rule on Auditors' Liability for Audit Firm Violations
The proposal would hold auditors and others more accountable when they negligently cause their firm to violate auditing standards.
Accounting
Sidney Kess, Tax Attorney and Author, Has Died at Age 97
Kess was called an “inspiration,” “a wonderful man,” and “one of the visionaries of the profession” by those who admired him.
Taxes
IRS Proposes Tweaks to R&D Tax Credit Form
Stakeholders have until Oct. 31 to provide feedback on the proposed changes to Form 6765 the IRS unveiled on Friday.
Taxes
IRS Looks to Provide Businesses with More Tax Certainty and Issue Resolution Tools
The IRS included this initiative in its Strategic Operating Plan, which outlines how it will use funding from the Inflation Reduction Act.
Taxes
IRS Temporarily Stops Employee Retention Credit Processing
A rash of bogus ERC claims in recent months has prompted the IRS to put the program on hold through at least the end of 2023.
Accounting
Marcum's Ex-Quality Control Overseer Was Fined By the SEC for Bad Quality Control Oversight
Marcum audit partner Alfonse Gregory Giugliano was slapped with a $75,000 fine for failing to fix problems in the firm's QC system.
Firm Management
EY Falls Just Shy of $50 Billion in Global Revenue for 2023
The Big Four firm said it invested $1.4 billion in AI in 2023, including launching a new AI platform, EY.ai, and a large language model.
Firm Management
Cherry Bekaert Picks Up Outsourced Accounting Firm
The top 30 firm has gained 250 employees and three new offices with its acquisition of Cordia Partners and Cordia Resources.
Taxes
IRS Releases Initial Guidance on Section 174 Amortization
Notice 2023-63 includes interim rules on the capitalization and amortization of specified research or experimental expenditures.