Accounting

Andrew Gragnani, the new president of Mayer Hoffman McCann, has plans to increase the firm’s national presence, including acquiring other accounting firms. MHM, a Top 10 Firm in Cleveland that operates in an alternative practice structure with the publicly traded financial services company CBIZ, announced Gragnani’s appointment earlier this month, succeeding Andy Burczyk, who is

Julie Boland Julie Boland was elected EY US chair and managing partner and appointed Americas area managing partner for a four-year term beginning July 1, 2022, succeeding Kelly Grier who will retire from EY when her term ends June 30, 2022. Boland, who will also lead the U.S. executive committee, served as US-central regional vice

In order for tax season to be successful, everyone must follow the system. Last week I received two calls about managers that are not following their firm’s system, and are working as Lone Rangers, and I am sharing my comments here. In one case the manager either isn’t listening or is blocking out what the

The Internal Revenue Service is expanding its capacity to process tax returns following criticisms from members of Congress about taxpayers waiting months to get their refunds. The agency is adding a second so-called surge team to process a backlog of unprocessed tax forms filed in the past two years and is outsourcing some basic functions

Former President Donald Trump and two of his adult children must testify in New York Attorney General Letitia James’s civil probe of the Trump Organization, a state judge ruled. New York judge Arthur Engoron on Thursday rejected a request by Trump, Donald Trump Jr. and Ivanka Trump that he block James’s subpoenas for their depositions.

The Financial Accounting Standards Board issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, in August 2020. ASU 2020-06 simplifies an issuer’s accounting for convertible instruments and its application of the derivatives scope exception for contracts in its own equity. Assuming a Dec. 31 fiscal year-end, ASU 2020-06 is effective

The International Ethics Standards Board for Accountants proposed a set of revisions Friday to the International Code of Ethics for Professional Accountants (including International Independence Standards to address the impact of technology innovation on the profession. The exposure draft with proposed technology-related revisions to the ethics code aims to guide the mindset and behavior of

Republican members of the Senate Finance Committee have written to Treasury Secretary Janet Yellen asking her to keep both parties in Congress involved in negotiations on a global minimum tax, arguing that such a tax would apply more broadly than originally thought. The letter, sent Wednesday, comes after a prior request for information last December

CPA Exam prep course and continuing professional education provider Becker Professional Education has announced its new Leading Change for a Diverse and Inclusive Workplace Certificate. Designed for accounting and finance leaders, the five-course, eight-credit continuing professional education (CPE) course aims to teach managers how to implement more diversity, equity, belonging and inclusion (DEBI) practices within

Refund madness; without oversight; waste not, definitely want not; and other highlights of recent tax cases. Pittsburgh: Ephrem F. Lijalem, a resident of Carpentersville, Illinois, and operator of tax refund stores in Pittsburgh, has pleaded guilty to aiding or assisting in the preparation or filing of false federal income tax returns. Lijalem operated Cititax Tax

Avalara certified 20 more application integrations with its own tax compliance software Thursday, including several accounting, enterprise resource planning, e-commerce, point-of-sale, mobile commerce and customer relationship management systems. Avalara said its certified integration partners have met criteria developed by the company for performance and reliability. The software integrations allow users to embed Avalara’s automated tax

Hutchinson and Bloodgood LLP has combined with Damitz, Brooks, Nightingale, Turner and Morrisset in Santa Barbara, California, effective Jan. 1, 2022. H&B was founded in 1922 and provides accounting, tax compliance, audits, reviews and compilations, along with advisory services including strategic planning, succession planning, estate planning, financial forecasts and projections, information technology planning, litigation support,

Taxpayers who moved to another state during the pandemic to work remotely have been dealing with a more complicated tax season as usual, and it’s not so easy for the companies where they work either. Accounting firms have been trying to help clients sort through all the complex multistate tax issues, both on the individual

An accountant working at a Georgia-based wealth management firm pleaded guilty to embezzling $800,000 from an elderly client suffering from dementia. Heidi Royal, 52, of Dallas, Georgia, an accounting manager and bill pay supervisor at Homrich Berg in Atlanta, pleaded guilty to wire fraud and aggravated identity theft, the Justice Department announced Monday. Royal had

Billtrust, a provider of accounts receivable software based in Lawrenceville, New Jersey, has acquired Order2Cash, an electronic invoicing and payments company headquartered in Amsterdam. The acquisition comes on the heels of Billtrust’s acquisition last October purchase ofiController, an AI cash flow forecasting company based in Ghent, Belgium and will expand the company’s European and global

Wipfli, a Top 20 firm based in Milwaukee, has added two data analytics and application development companies, Solve100 and Waypoint Consulting, while expanding its footprint to Arkansas. Solve100, based in Chicago, offers business intelligence, data analytics, machine learning and predictive analytics technology to the health care, manufacturing, financial services, food service/manufacturing and distribution/logistics industries. DecisionPoint

The Internal Revenue Service has set up a dedicated page on its website to provide the latest information about the current tax season and the agency’s efforts to deal with the backlog of millions of previously filed returns. The IRS has been struggling to cope with a backlog of tax returns from last year estimated

Employees all over the world are opting to get paid in cryptocurrencies, though they’re still in a small minority, according to global payrolls and hiring company Deel. Out of 100,000 hires in more than 150 countries that Deel has been involved with over the past six months, about 2% opted to take at least part

We’re heading into the time of year when one day blurs into the next. You feel bombarded with unexpected client calls and requests 24/7. There’s nothing worse than being caught off-guard by an urgent client request, or worse, hanging up the phone and realizing you just had Client A’s situation confused with Client B’s and

Lehman College, a City University of New York senior college located in the Bronx, is transforming its Economics and Business department into a new School of Business with its own accounting department, effective July 1. The new School of Business will represent the sole business school at any public college in the Bronx or Westchester