Wyden asks IRS to overlook penalties for unexpected tax bills

The top Democrat on the Senate Finance Committee wants the service to waive the penalties that he expects to hit millions of workers and families.


AICPA finalizes omnibus statement on auditing standards

The American Institute of CPAs’ Auditing Standards Board voted to issue a final version of its Statement on Auditing Standards, Omnibus Statement on Auditing Standards—2019, to align its guidance more closely with that of the Public Company Accounting Oversight Board.


GASB proposes implementation guide for fiduciary activities standard

The Governmental Accounting Standards Board has posted a proposed implementation guide with a set of questions and answers about GASB’s new standards on accounting and financial reporting for fiduciary activities.


IMA plans to update CMA exam with more of a tech focus

The Institute of Management Accountants is making changes to its Certified Management Accountant exam.


Paychex finds small-business job growth slowed in December, but wages increased

Hourly earnings grew at a moderate pace last month, but employment leveled off.


Wipfli merges in Howe, Riley & Howe

The Top 100 Firm has expanded its footprint in New England with its latest M&A deal.


Fundamentals of the truly virtual firm

The development of a virtual practice is about building value and keeping the team competitively positioned for growth.


SEC penalizes Hertz $16M for accounting violations

The Securities and Exchange Commission has imposed a civil penalty on the car rental giant for misstating pretax income.


How to get hydrated without choking on the fire hose

With things changing so fast in the accounting world, many CPAs feel it’s difficult just trying to keep up.


Team-building traditions that make the firm stand out

HMWC CPAs & Business Advisors holds an annual “Death March” that brings employees to some spectacular sights.