Month: September 2020

Big Four firm EY and its EY Foundation launched a $3.3 million scholarship fund on Wednesday to support its 2020 winter and summer interns in the US. The EY Intern Scholarship Fund will support interns with financial needs who have been impacted by COVID-19, helping them continue their academic careers. The Scholarship Fund covers Fall
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The Internal Revenue Service has issued final regulations that update the federal income tax withholding rules for certain periodic retirement and annuity payments made after Dec. 31. In July, the IRS released a draft of a redesigned 2021 Form W-4P and instructions intended to align with the redesigned W-4. The draft W-4P also proposed a
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David M. Solomon, Chairman and CEO of Goldman Sachs, speaks during the Milken Institute’s 22nd annual Global Conference in Beverly Hills, April 29, 2019 Mike Blake | Reuters Goldman Sachs CEO David Solomon restructured several of his businesses and named new heads for the bank’s asset management and consumer and wealth management divisions.  The moves announced
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Intuit has created a software integration between its QuickBooks Online and Amazon Business. Small businesses using both platforms can now automate purchase reconciliation and categorization when making purchases on Amazon Business.Through the new integration, all Amazon Business purchases will be automatically imported into QBO, with data being refreshed multiple times per day. Purchase details, including
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More bucks for the IRS; deductible haircuts; virtues of virtual learning; and other highlights from our favorite tax bloggers. Getting serious Tax Vox (https://www.taxpolicycenter.org/taxvox): Yin and Yang Dept: “How Much More Money Could the IRS Collect If Congress Gave Them More Money?” TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): Turns out the Congressional Budget Office has estimated that modest
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Legalizing recreational marijuana is a hot topic in many states where the state budgets are in disarray because of the coronavirus pandemic and new revenue sources are being sought. Combined with a desire to decriminalize marijuana, the zeitgeist is ideal for legalization. This Election Day, voters in Arizona, Montana, New Jersey, and South Dakota will consider legalization and
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An indoor farming start-up that heralds itself as the future of agriculture and has Martha Stewart on its board announced Tuesday it is going public through a reverse merger, the latest in a series of blank-check deals during the coronavirus pandemic.   Kentucky-based AppHarvest is merging with special purpose acquisition company Novus Capital Corp., while picking up $475 million
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Getty Images The big question over whether Congress will pass another coronavirus stimulus bill is, will they or won’t they? From jobs to savings to retirement plans, the coronavirus pandemic has upended many Americans’ financial lives. Millions of Americans, facing serious financial hardship, are hoping for more relief, including expanded federal unemployment benefits and a
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There are generally two kinds of articles about client accounting services: The first marvels at their explosive growth as a service line over the past several years, and the second aims to explain what, exactly, CAS is. That the fastest-growing accounting firm service in decades should also be a bit of a mystery may seem
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Different states varied widely in the effect of the pandemic-generated shutdowns, with many suffering little or no revenue loss, while others are billions in the hole. Among the latter, most were not prepared with budget set-asides to make up for any shortfalls, and are awaiting bailouts in the form of relief packages in the next
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Reopenings begin with masks, conference rooms have gone Zoom, and businesses face a load of new questions — but for many, the future comes down to one: “How am I going to survive?” “It really depends on the business. It’s hard to tell a spa client to go virtual,” said Lawrence Pon, a CPA at
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