Firm Management
RSM US Unveils 2023 Class of 109 New Partners and Principals
This year’s class of new partners and principals at RSM is larger than last year’s class of 88.
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
Taxes
Rep. Jason Smith Picked to Lead House Ways and Means Committee
At 42 years old, Smith will become the youngest-ever chairman of the powerful tax-writing panel.
Small Business
78% of Small Businesses Say TikTok Ads Have Boosted Profits
In addition, one in 10 small businesses went viral on TikTok organically, according to a new survey from Capterra.
Auditing
PCAOB Looks to Modernize Rules for Confirmations
Proposal would replace an interim standard that has not changed substantially since 2003.
Taxes
IRS Audits Dropped Slightly in 2022
Low-income wage-earners taking the earned income tax credit had a higher-than-expected audit rate, report says.
Firm Management
KPMG Buys Seattle-Based Arnold Group
Arnold Group provided go-to-market strategy development for clients in the technology sector the last 20 years.
Taxes
IRS Updates FAQs on Form 1099-K
The IRS is treating calendar-year 2022 as a transition year for the reduced reporting threshold of more than $600.
Firm Management
KPMG's 2022 Global Revenue Topped Out at $34.6 Billion
The Big Four firm had steady growth across all regions during its FY 2022, as well as all of its core service lines.
Taxes
Ways and Means to Make Trump's Tax Returns Public on Dec. 30
The documents are expected to include his tax returns filed between 2015 and 2021.
Taxes
IRS, Treasury Lay Out Transitional Guidance for Broker Reporting on Digital Assets
The Infrastructure Investment and Jobs Act amended the tax code to expand reporting rules on digital assets by brokers.
Small Business
U.S. Retail Sales Grew 7.6% This Holiday Season
Online sales grew 10.6% compared to the same period last year, according to Mastercard SpendingPulse.
Accounting
FASB Decides to Defer Sunset Date of Reference Rate Reform Guidance
The ASU extends the period time for financial statement preparers to use the reference rate reform relief guidance.