The Internal Revenue Service is once again depositing the latest round of Economic Impact Payments in the wrong bank accounts in a replay of problems experienced last year by many taxpayers.
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Upcoming Events
Daily Briefing
January 7, 2021
Upcoming Events January 7, 2021
Daily Briefing
IRS again depositing stimulus payments in wrong bank accounts
By Michael Cohn      4 min read
The Internal Revenue Service is once again depositing the latest round of Economic Impact Payments in the wrong bank accounts in a replay of problems experienced last year by many taxpayers.
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IRS offers guidance on deducting PPP expenses
By Michael Cohn      3 min read
The Internal Revenue Service and the Treasury Department released guidance on claiming deductions for expenses associated with Paycheck Protection Program loans that have been forgiven.
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Labor Department finalizes rule on employee vs. independent contractor status
By Michael Cohn      2 min read
The U.S. Department of Labor issued a final rule Wednesday to clarify the standard for determining whether a worker should be considered an employee or an independent contractor.
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EY and Microsoft expand Xbox blockchain smart contract platform
By Ranica Arrowsmith      2 min read
EY aims to help business-to-business enterprise clients that have contractually driven, multiparty cash flow distributions to create similar blockchain platforms.
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U.K. Financial Reporting Council reports record fine against Deloitte for Autonomy audits
By Michael Cohn      4 min read
The United Kingdom’s Financial Reporting Council issued a report Wednesday on its sanctions against Deloitte for audits of a British software company that was acquired by HP.
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Pathways to Growth: Client experience done right
By Gale Crosley      4 min read
How LBMC successfully transformed its relations with its clients.
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IRS finalizes rules for claiming carbon capture tax credits
By Michael Cohn      2 min read
The Internal Revenue Service and the Treasury Department released final regulations Wednesday on how businesses can claim a tax credit for use of carbon capture equipment to help the environment.
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Are you confused or just procrastinating?
By Kyle Walters      4 min read
Are you really stuck on a problem or just procrastinating about a hard decision? When it comes to confusion, the most obvious answer is usually the right answer. Try this simple exercise for breaking through confusion.
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Private sector cut 123K jobs in December, says ADP
By Michael Cohn      2 min read
Professional services like accounting and tax prep gained 12,000 jobs, however, according to the payroll giant.
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Foreign auditor use increasing among U.S. companies
By Michael Cohn      3 min read
Over one-third of U.S. public company audits rely on at least one audit firm abroad, according to new research.
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