IRS seeing difficulties with FATCA reporting

The Internal Revenue Service is having trouble dealing with the information it’s getting from foreign banks about U.S. taxpayer assets under the Foreign Account Tax Compliance Act because of problems with the data and various mismatches, according to a new government report.


AICPA launches 'Valuation of Financial Instruments' credential

The new credential, available for CPAs and finance professionals, will bring “consistency and transparency” to the global derivatives market.


Companies lagging on lease accounting efforts, Deloitte finds

Both public and private companies are struggling with implementing the new lease accounting standard, according to a new survey by Deloitte.


Art of Accounting: No April Fool message

We can offer clients a huge value and also generate some additional revenue for ourselves.


EY expands neurodiversity program

As April marks Autism Awareness Month, Big Four firm Ernst & Young has announced a newly opened Neurodiversity Center of Excellence in its Chicago office.


New York budget includes plastic bag ban, mansion tax, Manhattan toll

New York lawmakers approved a budget that allows for tolls on cars entering midtown Manhattan, increases sales taxes on multimillion-dollar city homes and ushers in a statewide ban on single-use plastic bags.


Hertz seeks $70M in clawbacks tied to accounting scandal

The rental car company is demanding that ex-CEO Mark Frissora and other former senior managers return incentives they received.


Case Studies: Online accounting software in 2019

Three firms share their journeys into the cloud.


Generational issues: Dealing with your clients’ families

Financial planners need to engage with the next generation — for both their sakes.


Firm leaders look to technology to drive future change

More than anything else, the digital revolution is leading firms’ future plans.