Corporate-tax proposal in Senate stokes economists’ concern

A fresh initiative in the U.S. Senate to put a tax penalty on big companies as a way of forcing higher minimum wages prompted a skeptical reaction among economists including a top adviser to former President Barack Obama.

Corporate-tax proposal in Senate stokes economists’ concern


House passes Biden aid with $1,400 checks; focus moves to Senate

The House passed President Joe Biden’s $1.9 trillion pandemic-relief plan, spanning $1,400 stimulus checks, enhanced jobless benefits and fresh funding for vaccines and testing. Also included: a minimum-wage measure with no prospects of passing in the Senate.

House passes Biden aid with ,400 checks; focus moves to Senate


Tax executives have trouble plotting strategy this year

The uncertainties in the year ahead are making it difficult for corporate tax executives to decide exactly what to do, given the challenges surrounding COVID-19.

Tax executives have trouble plotting strategy this year


IFAC teams with IIRC on integrated reporting assurance

The International Federation of Accountants is partnering with the International Integrated Reporting Council on a joint initiative.

IFAC teams with IIRC on integrated reporting assurance


Leverage data analytics to curb fraud risks

Data-driven processes can help auditors focus on high-risk issues for further analysis and investigation.

Leverage data analytics to curb fraud risks


Trump’s tax returns arrive at Manhattan prosecutor’s office

New York prosecutors have received eight years of Donald Trump’s individual and corporate tax returns from the former president’s accounting firm, according to a spokesman for Manhattan District Attorney Cyrus Vance Jr.

Trump’s tax returns arrive at Manhattan prosecutor’s office


Key senators float corporate tax to enable minimum-wage hike

Two Senate committee chiefs are looking at ways to raise taxes on companies paying workers less than $15 an hour, as part of a new strategy to include President Joe Biden’s push to boost the minimum wage to that level in his COVID-19 aid bill.

Key senators float corporate tax to enable minimum-wage hike


People & firms on the move: Anchin appoints first COO

Lumsden & McCormick promotes four; Oklahoma Society of CPAs announces 2021 Trailblazer and Path Finder award winners; and more CPA news.

People & firms on the move: Anchin appoints first COO


Schumer weighs big-firm tax to enable minimum wage hike

Senate Majority Leader Chuck Schumer is weighing adding a provision to the $1.9 trillion COVID-19 relief plan that would put a penalty tax on big companies that don’t pay workers at least $15 an hour, a Democratic aide said on condition of anonymity.

Schumer weighs big-firm tax to enable minimum wage hike


No progress without a pandemic?

Even after the coronavirus, the accounting profession will need to keep changing and adapting at a rapid pace.

No progress without a pandemic?