House panel clears $1,400 stimulus payments, family tax credits

The House Ways and Means Committee advanced legislation that would infuse households with hundreds of billions of dollars of cash through direct payments and tax credits, a key plank of President Joe Biden’s COVID-19 relief package.

House panel clears ,400 stimulus payments, family tax credits


People & firms on the move: NJCPA CEO receives African American NJ Business Award

The Connecticut Society of CPAs recognizes seven women with CTCPA Women Awards; RSM raises over $4.6 million at RSM Classic; and more CPA news.

People & firms on the move: NJCPA CEO receives African American NJ Business Award


Cleareye.ai and Microsoft partner on PPP loan forgiveness platform

The software is driven by artificial intelligence, and powered by Microsoft Azure.

Cleareye.ai and Microsoft partner on PPP loan forgiveness platform


Tech News: Accounting Blockchain Coalition adds crypto tax platform; and more

BKD becomes reseller of Reptune; and AccountMate updates software, adds TaxJar integration.

Tech News: Accounting Blockchain Coalition adds crypto tax platform; and more


Tax Fraud Blotter: Final opportunities

Off the top; bad Solutions; and we quote; and other highlights of recent tax cases.

Tax Fraud Blotter: Final opportunities


IRS gets set for Friday’s delayed start to tax season

The Internal Revenue Service is girding for the official start of tax season as taxpayers and preparers deal with tax breaks related to COVID-19 and questions about stimulus payments.

IRS gets set for Friday’s delayed start to tax season


SALT-cap repeal unlikely to be added to COVID-19 relief bill

Hopes among millions of upper-income and middle-class taxpayers for a repeal of the Trump administration’s limits on their federal deductions will likely be on hold for now, as an effort to include the measure in the COVID-19 aid package is poised to fail.

SALT-cap repeal unlikely to be added to COVID-19 relief bill


GASB proposals would stretch meaning of accrual accounting

To the detriment of many state and local governments, budget decisions are being made based on bad accounting information.

GASB proposals would stretch meaning of accrual accounting


Partners need to own their firm's strategic plan

Strategic planning is about the choices partners make about the future of the firm, both what to do and, more importantly, what not to do.

Partners need to own their firm's strategic plan


EY auditors told by German court to testify about Wirecard

Two Ernst & Young auditors were told by a German court that they must testify before a parliamentary committee about their accounting work for scandal-ridden Wirecard AG.

EY auditors told by German court to testify about Wirecard