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Latest News & Web Pages
Treasury gives DHS employees an extra month for their taxes
49+ min ago (406+ words) Department of Homeland Security employees will have until May 15 to file and pay their income tax returns with the Internal Revenue Service, a move reserved for taxpayers who are facing crises. The Treasury Department on Wednesday announced the one-month tax…...
Practice Profile: Redefining the middle market
3+ hour, 4+ min ago (644+ words) Knowing your clients is one thing; knowing how they're changing over time is something else again " something Top 10 Firm RSM knows well, having just literally redefined one of its most important client bases: the middle market. The firm recently conducted…...
What cutting bookkeeping means for the future of advisory
3+ hour, 34+ min ago (632+ words) For many accounting firms, the growth path isn't blocked by a lack of clients. It is constrained by time. When I launched my virtual accounting services firm, my goal was simple: to help small and midsized businesses access high-quality financial…...
Blue Owl caps private credit funds redemptions at 5% after steep request levels
4+ hour, 2+ min ago (312+ words) Blue Owl is experiencing elevated redemption requests for two of its private credit funds, according to letters to shareholders issued Thursday. The firm's flagship OCIC fund, with about $36 billion in assets under management, received redemption requests of about 21.9% of shares…...
Committee advances tax and IRS legislation
19+ hour, 39+ min ago (188+ words) The tax-writing House Ways and Means Committee unanimously approved five bipartisan tax-related bills last week aimed at helping natural disaster victims, sexual assault survivors, pre-school teachers, taxpayers in general and tax fraud whistleblowers. For tax years 2023 and 2024, 45,386 returns claimed about…...
KPMG faces allegations of blown audit in private credit collapse
1+ day, 1+ hour ago (453+ words) Canada's top securities regulator alleged that KPMG LLP, the auditor for four funds managed by collapsed private lender Bridging Finance Inc., failed to properly value the loans held within the funds, harming investors. The Ontario Securities Commission claimed in a…...
IFAC changes membership obligations
23+ hour, 18+ min ago (155+ words) The IFAC board approved the revisions to Statements of Membership Obligations in February. IFAC has posted a table summarizing the revisions along with a frequently asked questions document to help its members understand the changes. IFAC also plans to host…...
Ineligible ITIN holders claim millions in tax credits
1+ day, 34+ min ago (569+ words) People with Individual Taxpayer Identification Numbers are claiming millions of dollars in tax credits for which they're not eligible, according to a new report. The report, released by the Treasury Inspector General for Tax Administration, found that for tax years…...
EY tells US tax staff to work from office three days a week
21+ hour, 29+ min ago (343+ words) EY has told U.S. tax staff they need to be in the office an average of three days a week, in a tightening of the firm's hybrid working policy." Staff in the accounting and consulting firm's U.S. tax business will be required…...
Private sector added 62K jobs in March
21+ hour, 29+ min ago (396+ words) Private sector employers added 62,000 jobs in March, payroll giant ADP reported Wednesday, as annual pay grew 4.5% year over year." The smallest business drove most of the job growth for the second month in a row, while hiring in trade, transportation…...