The outcomes of two elections in Georgia that are scheduled for Jan. 5 are expected to determine the balance of power in the Senate and may also have an impact on the kind of tax planning that accountants should be advising their clients to do. | Senate runoffs complicate year-end tax planning → | | By Michael Cohn 11 min read | | The outcomes of two elections in Georgia that are scheduled for Jan. 5 are expected to determine the balance of power in the Senate and may also have an impact on the kind of tax planning that accountants should be advising their clients to do. | |
| House Democrats call for IRS funding to pursue wealthy tax evaders → | | By Michael Cohn 3 min read | | A group of 25 Democrats in the House wrote to congressional leaders asking them to provide $12.1 billion in funding for the Internal Revenue Service, including $5.2 billion for enforcement, with an eye toward cracking down on high-income tax cheats. | |
| Helping Gen X stand the strain → | | By Daniel Hood | | UHY tax principal Therese Wolfe says Generation X is sandwiched between the needs of their aging parents and those of their college-debt burdened children — and they need help to handle the financial burdens. | |
| IASB plans possible new M&A standards → | | By Michael Cohn 3 min read | | The International Accounting Standards Board began a consultation process in preparation for possible changes in the accounting standards for mergers and acquisitions. | |
| Deutsche Bank accounting head probed over EY Wirecard audit → | | By Karin Matussek and Birgit Jennen 2 min read | | Deutsche Bank AG’s top accounting executive, Andreas Loetscher, is being investigated over his role as the auditor of Wirecard AG while he was with his former firm, Ernst & Young, two people familiar with the matter said. | |
| House to vote on restricting Chinese firms listed in U.S. → | | By Billy House 3 min read | | The House is set to vote on bipartisan legislation that would impose restrictions on Chinese companies listed on U.S. exchanges, including requiring certification that they’re not under control of a foreign government. | |
| WEB SEMINAR | | Total firm management: Trends and technology for 2021 and beyond | | Get a head start on 2021! Many firms had to abruptly change directions this year, but it’s never too early to start planning for next year. Find out what trends are influencing accounting firm technology strategies and how firms are looking to innovation to become more resilient and agile. Learn More → | |
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