If you audit or manage a startup company or other privately held business, don’t overlook the treatment of stock-based compensation.
Category: NYT Accounting News
Ultra-wealthy’s corporate jet is latest IRS crackdown
The agency will begin three to four dozen new audits this spring to see if inappropriate deductions were made.
Senate probes $40B tax shelter in private placement life insurance
The report casts a skeptical eye on the PPLI industry, claiming it functions as a tax shelter for a few thousand millionaires and billionaires.
PCAOB fines Withum $2M for SPAC audit violations
The Public Company Accounting Oversight Board levied a $2 million fine against WithumSmith+Brown for violating quality control rules.
IRS accelerates audits of business jets
The Internal Revenue Service will be scrutinizing the use of corporate jets, focusing on big corporations and partnerships, as well as high-income taxpayers.
The 20 best states for doing business
While property and unemployment insurance taxes are universal in every state, many of the best states for doing business do not have corporate, sales or individual income taxes.
How Main Street CPA firms can attract buyers in 2024
Acquirers are very selective because so many firms are looking for a deal.
PCAOB sweep hits Baker Tilly, Mazars, and others
The Public Company Accounting Oversight Board levied sanctions and penalties against four auditing firms as part of a sweep.
IRS CI cracks down on ERC claims
The Internal Revenue Service’s Criminal Investigation unit has been investigating bogus claims for the Employee Retention Credit and educating tax pros about the problems they can encounter.
In the blogs: Pressing questions
Assessing your fees; partner comp; how to spend money; and other highlights from our favorite tax bloggers.