On Thursday, the IRS released an early draft of the instructions for Form 1065, U.S. Return of Partnership Income (IR-2020-240). The IRS is accepting comments on the draft instructions for 30 days and plans to issue final instructions in December. The revised instructions will apply to the 2020 tax year (i.e., the 2021 filing season) […]
Americans’ personal financial satisfaction sees record rebound
Reflecting the economic volatility Americans have experienced this year, the AICPA’s Personal Financial Satisfaction Index saw its highest-ever quarterly growth in the third quarter of 2020, rising 16.5 points, marking a 99% increase from the last quarter. In the second quarter of 2020, the PFSi experienced its largest-ever quarterly drop, falling 18.5 points, a 55% […]
UAA Model Rules updated to support evolution of CPA licensure
The National Association of State Boards of Accountancy (NASBA) board of directors has approved updated language to the Uniform Accountancy Act (UAA) Model Rules that will pave the way for the CPA Evolution project. NASBA and the AICPA have worked together for years on CPA Evolution, an initiative designed to ensure that newly licensed CPAs […]
Accounting firm RLB names William Bloss managing partner – LVB – Lehigh Valley Business
RLB Accountants of Allentown has named William E. Bloss as its managing partner. He will take over for Martin C. Levin, who has served as managing partner since the firm was formed in 2009. User ID / Email / Password is case sensitive To inquire about group subscriptions or an enterprise site license for your […]
Year-end Tax Planning for Small Business Owners: Head Start for 2021
The end of the year is a busy, if not the busiest, time for small business owners. You’re gearing up for a new year and trying to wrap things up before the year comes to a close. One thing that should be on your mind during this time is year-end tax planning. 8 Year-end tax […]
Hearings begin in Samsung vice chairman Jay Y. Lee’s accounting fraud trial – TechCrunch
The trial of Samsung leader Jay Y. Lee, who is accused of accounting fraud and stock-price manipulating, held its first hearing today at the Seoul Central District Court. The Seoul Central District Court denied prosecutors’ arrest warrant request for Lee in June, stating that even though they had secured a “considerable amount of evidence,” it […]
Pandemic resilience starts with compassion, accountants say
Sometimes the simplest values can help organizations succeed during challenging times. Sheila Enriquez, CPA/CFF, managing partner and CEO of Briggs & Veselka in Houston, said a strong focus on compassion has helped her firm succeed during the coronavirus pandemic. “I know it sounds soft, but it has served us well,” she said Wednesday during a […]
Lockstep debuts ‘accounting inbox’ for AR and AP – Accounting Today
Lockstep has debuted its first product, cloud-based software that functions as an inbox for accounts payable and receivable. The product has been in beta test mode since 2019 with 200 business customers, and now upon its release integrates with a reported 40 accounting and enterprise resource planning platforms. Lockstep has functions to assign work, create […]
Lockstep debuts ‘accounting inbox’ for AR and AP – Accounting Today
Lockstep has debuted its first product, cloud-based software that functions as an inbox for accounts payable and receivable. The product has been in beta test mode since 2019 with 200 business customers, and now upon its release integrates with a reported 40 accounting and enterprise resource planning platforms. Lockstep has functions to assign work, create […]
Accounting firm’s bottom line is blue and gold: 7 principals and dozens of staff are FIU Business grads – FIU News
Previously, GEMRT’s leaders were members of two small firms that started to think about the best way to move forward. Each firm recognized that as accounting firms evolve into multidisciplinary consulting practices with strong technology components, the need to scale the practice became a stronger pull. Yet in contemplating a merger, they saw that finding […]