PwC ordered to pay $625M in damages over bank’s audit

PricewaterhouseCoopers LLP was ordered to pay the Federal Deposit Insurance Corp. more than $625 million for negligence in the audit of Colonial BancGroup Inc., an Alabama bank holding company that failed during the financial crisis.

IRS adds more business tax compliance efforts

The Large Business and International Division is targeting virtual currency, S corporation distributions and more for extra scrutiny.

Wayfair decision may level playing field on taxes for retailers

The Supreme Court’s 5 to 4 decision allows states to require out-of-state retailers to collect sales tax from customers, even if they don’t have a physical store or warehouse in the state.

Accounting marketers share salaries, satisfaction levels in AAM survey

Respondents to the survey, conducted by the Association for Accounting Marketing, CPA Trendlines and Capstone Marketing, were generally optimistic about their profession.

CliftonLarsonAllen adds Duggan & Massey

CLA is expanding its presence in Atlanta with its latest M&A deal.

Murphy signs N.J. budget after last-minute tax deal averts shutdown

New Jersey Governor Phil Murphy enacted a $37.4 billion spending plan that will fund his progressive agenda by raising taxes on large corporations and individuals making more than $5 million.

Disrupt yourself

Accountants are being called to change — before change is forced on them.

Cryptic currencies

The AICPA has suggested guidance on the tax treatment of cryptocurrencies.