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More Rich Americans Will Soon Be Hit With an IRS Audit, Werfel Pledges

CPA Practice

The IRS said it’s gearing up to increase audit rates by more than 50% on wealthy taxpayers with more than $10 million in total positive income and nearly triple audit rates on corporations with assets over $250 million by 2026, Commissioner Danny Werfel said on Thursday, as the agency released an update to its strategic operating plan.

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How the CPA, CMA and EA Credentials Have Become Global Designations

CPA Practice

In the last few years there has been a shortage of critical skills with regards to the accounting profession and especially in the output of North American and European professionals with CPA, EA and CMA qualifications. This is where skilled CPA, CMA AND EA professionals shine. Each state’s Board of Accountancy issues the CPA license.

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Treasury: IRS Could Collect $561 Billion in Revenue Thanks to Inflation Reduction Act

CPA Practice

A new Treasury Department analysis says the IRS could turn the nearly $80 billion in funding it’s receiving from the Inflation Reduction Act into $561 billion in overdue and unpaid taxes collected over the next 10 years, higher than earlier estimates.

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Monday Morning Accounting News Brief: Details on Grant Thornton’s PE Deal; What Is ‘Presented Fairly’ Anyway? | 5.13.24

Going Concern

’s top accountant is confronting a competitive job market by rethinking the company’s traditional reliance on large CPA firms as a training ground for new hires, taking her recruiting pitch on-campus instead. Previously, Calvert served as Managing Partner for Markets and Accounts, as well as Managing Partner for the Tax practice.

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