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July 11, 2020

Big jumps seen in tax prep fees: Survey

By Jeff Stimpson 2 min read

Prices have risen significantly in the past two years, preparers report.

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KPMG names new practice leads as part of 'a new chapter'

By Michael Cohn 3 min read

KPMG appointed new leaders in the U.S. of its audit, tax and advisory businesses as the Big Four firm tries to regain trust after a bruising series of scandals.

PPP forgiveness promises ‘a busy fall’ for accountants

By Daniel Hood 3 min read

Meanwhile, the AICPA is working to come up with a uniform approach for the applications.

Deloitte and its clients adjust to coronavirus accounting and auditing

By Michael Cohn 11 min read

Deloitte is helping its corporate clients get ready to prepare their quarterly financial statements in the midst of the novel coronavirus pandemic, as its own employees grow more accustomed to doing remote audits while working from home.

IRS to start collecting overdue tax payments as AICPA urges continued relief

By Michael Cohn 8 min read

The service reminded taxpayers they will need to resume paying their taxes on July 15, but the AICPA is asking for further relief, as an inspector general report sheds light on the unprecedented filing season.

AICPA offers $50K in COVID-19 grants to accounting students

By Sean McCabe 1 min read

The American Institute of CPAs announced that it is offering education grants to 25 accounting students who have been monetarily impacted by the ongoing pandemic.

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Despite productivity drops, firms commit to remote work in reopening

By Daniel Hood

A new study also found that accountants are, by and large, very pleased with how their firms have responded to the pandemic.

Looking for a work-at-home tax break? Here’s the bad news

By Alexis Leondis 3 min read

The 2017 tax law eliminated the federal write-offs previously allowed for unreimbursed business expenses and home offices, along with most other miscellaneous itemized deductions.

Accountants predict 2020 will be worst year for economy since World War II

By Michael Cohn 3 min read

This year is expected to be the worst for the global economy since World War II, according to a new survey by the Association of Chartered Certified Accountants and the Institute of Management Accountants.

Big Four face big split in U.K. as watchdog sets separation deadline

By Aoife White and Hugo Miller 2 min read

The U.K.’s dominant accounting firms must separate their audit units from other operations by June 2024 as the country’s industry watchdog reacts to shortcomings that led to the collapse of several companies.

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