Understanding loan level data requirements to prepare for CECL

Accountants serving U.S. banks and credit unions are bracing for the impact that the current expected credit loss model may have on the institutions’ allowance for loan and lease losses and capital levels, and these institutions are enacting transition plans now.


Trump filed extension for 2017 tax return, White House says

For President Donald Trump, Tax Day isn’t today — it’ll be Oct. 15.


Multiple uses of a deferred compensation plan in the workplace

If your business clients want to reward employees for their loyal service after a five-, 10- or 20-year period and keep them around for longer, a deferred compensation plan can work well.


Internet sales taxes divide U.S. Supreme Court justices

U.S. Supreme Court justices signaled they are divided about whether to let states start collecting billions of dollars in sales taxes from internet retailers that don’t currently charge tax to their customers.


IRS systems run into trouble as tax deadline looms, agency gives taxpayers an extra day to e-file

The computers are back up and running, but last-minute filers get some additional time.


Accounting class-action suits hit record levels

Securities class-action filings containing accounting-related allegations reached unprecedented heights last year, although the total settlement value declined significantly, according to a new report.


KPMG South Africa fights for survival as public image shattered

KPMG LLP’s South African unit is flying in trouble shooters from around the globe and hurriedly meeting clients to stem any further loss of business after becoming embroiled in three evolving scandals.


In the blogs: Over the rainbow

Safari time; better answers for military taxpayers; multinational slackers; and other highlights from our favorite tax bloggers.


IRS gives taxpayers an extra day to file after computer crash

The Internal Revenue Service said it would give U.S. taxpayers an extra day to file their returns electronically after a computer malfunction disrupted the agency’s website.


Outrageous outages

Could system failures at the IRS finally push the service into the 21st century?