DAILY BRIEFING

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June 9, 2021

Prepared for Voornaam

A post-tax season IRS update

By Roger Russell       4 min read

The service offered highlights of tax season, the latest on stimulus packages, and more. View story →

Audit fees expected to rise 62% this year

By Michael Cohn       3 min read

Clients anticipate that audit fees will increase nearly two-thirds in 2021 due to the impact of inflation, COVID-19, acquisitions and divestitures, according to a survey by Gartner. View story →

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AICPA offers audit guidance on use of specialists and pricing info

By Michael Cohn       3 min read

The institute's Auditing Standards Board amended its standards Tuesday to include guidance in two areas. View story →

Creating a culture of motivation

By Jody Padar       5 min read

Imagine the difference in your firm if everyone had intentional, meaningful interactions with each other. View story →

Want to sell the family business? Brace for a huge tax bill under Biden’s proposals

By Lynnley Browning       5 min read

Even with a 15-year window to pay taxes, a near-doubling of the capital gains rate and the elimination of the step-up in basis loophole will make a sale expensive. View story →

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Attracting marquee clients is a marathon, not a sprint

By Dom Esposito       4 min read

CPA firms should look at their client base as if it were a bell curve.  View story →

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In the blogs: The fine print

By Jeff Stimpson       4 min read

Capital gains at death; ounces of prevention; extremely dark money; and other highlights from our favorite tax bloggers. View story →

U.S. billionaires faced tax rates as low as 0%: Report

By Christopher Kingdon       1 min read

Several of the world’s most prominent billionaires paid minimal or no federal income tax in some years, ProPublica reported. View story →

Small business cries foul as states tax their federal bailouts

By Bryce Covert       6 min read

Some in Washington have slammed states for what they consider kicking their own residents while they’re down — against the intent of Congress.  View story →

New tax regime won’t push big tech cos. out of Ireland

By Ivan Levingston and Siddharth Philip       3 min read

Big tech and other industries that have bunkered down in Europe’s tax havens are unlikely to shift their bases under the proposed global minimum tax regime. View story →

G-7 deal to tax companies more will affect climate policy

By Akshat Rathi       3 min read

Some of the world’s most powerful heads of state will meet in England later this week to confer on the biggest issues facing humanity.  Read story →

IRS mailing millions of letters about Child Tax Credits

By Michael Cohn       4 min read

The Internal Revenue Service is sending letters to over 36 million families about how they may be able to qualify for monthly Child Tax Credit payments, beginning in July. Read story →

KPMG launches free corporate board diversity tool

By Sean McCabe       2 min read

The KPMG Board Diversity Disclosure Benchmarking Tool lets corporate leaders, investors, staff and other professionals compare diversity board practices by sector, index and company size. Read story →

HR copes with tax challenges of remote work

By Michael Cohn       5 min read

The work-from-home environment is producing tax complexities for companies and their human resources departments. Read story →

SD Mayer to merge in TNT

By Michael Cohn       2 min read

The San Francisco-based firm is expanding to Redwood City, California. Read story →

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