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4+ hour, 22+ min ago (97+ words) Platform Accounting Group expanded in Oregon; Springline Advisors acquired Actuarial Resources; Sorren added RTO; Patrick Accounting and Tax Services is buying Knight Home Care Financial. The House Ways and Means Committee passed three bills aimed at bolstering taxpayer rights. Business executives are most worried about the risks from cybersecurity and third parties, but see opportunities for growth in the next few years. Growth was led by tax (7%) and advisory (4%), followed by audit and assurance (3%) and business services outsourcing (2%). Accounting Today has issued a call for submissions for its 2026 Top New Products report....

5+ hour, 10+ min ago (468+ words) The wealth management industry's traditional fee model is blocking more financial advisors from providing valuable tax and estate planning services to clients, according to Steve Lockshin. "When you are compensated on assets under management, your primary focus is assets under management," Lockshin said, suggesting that it would be different if more advisors charged specific fees for tax and estate work on behalf of their clients. "Because there's no financial incentive, most people don't focus on it." "There is nothing worse than dealing with a survivor of an early death," Lockshin added. "It is just a nightmare, and it is so preventable. But, because advisors are not compensated for it, they just ignore it." In a Vanilla webinar last month, Lockshin and fellow entrepreneur Michael Kitces provided an accompanying practical business case for that moral framing with a frank discussion about…...

5+ hour, 25+ min ago (270+ words) The bill passed the committee by a unanimous vote of 41 to 0. The IRS is legally allowed to request that a taxpayer provide additional information necessary to arrive at a fair and accurate audit adjustment. In cases where taxpayers don't fully cooperate with such requests, the IRS can seek information related to the audit from third parties, like banks or employers." Like the other bill, it passed the committee with a unanimous vote of 41-0." The Innovate Less Lethal to De-Escalate Tax Modernization Act (H.R. 4242), introduced by Rep. Dave Schweikert, R-Arizona, would allow "less than lethal" devices such as tasers to avoid being subject to excise taxes. Currently, tasers are defined under federal regulation as "firearms" and subject to the 10% tax levied on sales of revolvers and pistols. The bill passed the committee by a more divided vote of 26 to 15. Smith's counterpart on…...

6+ hour, 9+ min ago (200+ words) The amendments are in response to feedback from the ISSB's consultation earlier this year. The changes are effective for reporting periods beginning on or after Jan. 1, 2026, with early application permitted. The board also issued amendments to align three SASB standards with the corresponding changes in IFRS S2. "Our priority in delivering targeted amendments to IFRS S2 GHG emissions disclosure requirements has been to provide a timely response to challenges," ISSB vice chair Sue Lloyd said in a statement. "We are confident that the amendments will bring real relief to companies applying ISSB standards without significantly" affecting the decision-usefulness of information for investors."" Business executives are most worried about the risks from cybersecurity and third parties, but see opportunities for growth in the next few years. Growth was led by tax (7%) and advisory (4%), followed by audit and assurance (3%) and business services outsourcing (2%). Accounting…...

6+ hour, 59+ min ago (508+ words) Business executives are most worried about the risks from cybersecurity and third-party exposure, but see opportunities for growth in the next few years, according to a new survey. The survey asked the business leaders about 28 different kinds of risk divided across three dimensions, focusing on macroeconomic, operational and strategic issues. Cybersecurity has become a major concern for many organizations and their chief information security officers, the survey found, especially with the proliferation of generative AI technology making it easier for cybercriminals to carry out cyberattacks, ransomware attacks, deepfakes and phishing schemes. He cited the rise of ransomware, supply chain attacks and other breaches, causing them to look internally at how exposed their organizations are and what kind of issues they face. "As individuals do business with companies, they expect that their data, their financials, are going to be protected," he…...

10+ hour, 6+ min ago (245+ words) Under Notice 2025-62, the Internal Revenue Service provided guidance to employers of employees receiving tips or overtime as to procedures to follow for documenting qualified tips and qualified overtime on 2025 tax returns." Notice 2025-69 also includes a few examples of calculating qualified tips. Notice 2025-69 provides that payments in excess of the Fair Labor Standards Act-required premiums are not qualified overtime. Only the additional one-half of pay premium in excess of regular pay is considered qualified overtime. The employee should confirm that their employer is an FLSA employer. For 2025, qualified overtime may be reported anywhere on Form W-2 or a separate statement. It also may be on Form 1099-NEC or 1099-MISC. For 2025, an employee may determine qualified overtime from any of the following: Several examples are also provided in the notice for calculating qualified overtime. Growth was led by tax (7%) and advisory (4%), followed by…...

10+ hour, 11+ min ago (126+ words) The American Cancer Society was founded in 1913, with the principled mission of improving the overall lives of the people facing cancer and for their respective families." Growth was led by tax (7%) and advisory (4%), followed by audit and assurance (3%) and business services outsourcing (2%). Accounting Today has issued a call for submissions for its 2026 Top New Products report. The agency is also looking for feedback on the guidance by next March. Public Company Accounting Oversight Board officials are sounding a cautious note about the spread of artificial intelligence and private equity at audit firms. The Chicago-based firm has acquired New York- based accounting firm Farkouh, Furman & Faccio. The most influential people in the field, as chosen by their peers....

15+ hour, 40+ min ago (576+ words) Republican congressional leaders are considering a Medicare pay cut for hospitals as GOP lawmakers try to come up with a counterproposal to Democrats' demands to renew Obamacare subsidies, House Majority Leader Steve Scalise said Wednesday. The policy was included in a list of health care options presented to Republican House members in a meeting on Wednesday, according to a document viewed by Bloomberg." The proposal would ensure Medicare pays health care providers the same amount for the same health services, regardless of whether a patient receives them in a physician's office or a hospital. The policy could also lower costs for patients. It has received bipartisan backing from think tanks and advocacy groups, and could save the Medicare program substantial amounts of money." Large hospital chains including HCA Healthcare Inc. and Tenet Healthcare Corp. fell to session lows after the…...

17+ hour, 20+ min ago (561+ words) Church finance lives where calling meets accountability. Week to week, small teams, often a mix of staff and volunteers, receive gifts, pay bills, and report to pastors, boards and donors who expect clarity. Some bring accounting training; many do not. The result can be fragile internal controls, extended close cycles, and added administrative work that pulls time away from ministry. That's why more congregations are adopting systems and therefore enabling automation not for its shine, but to make stewardship easier to verify and faster to report on.Used with human oversight and pastoral care, these tools help financial work serve the mission, not compete with it. Automation belongs when it makes good stewardship second nature. Useful church accounting technologies build approvals into the workflow so that decisions are reviewed before money is moved, keep receipts attached to each entry so…...

20+ hour, 49+ min ago (276+ words) The Ministry of Labour & Employment has calmed the worries of employees to see a reduction in take-home salary following the implementation of the new Labour codes in a fresh clarification. The Ministry underlined that the new Labour Codes will not reduce take-home pay if PF deduction is on the statutory wage ceiling. Any PF contribution above Rs 15,000 is optional, not compulsory, the Ministry added. It means an employee's company can't force him/her for extra PF cuts beyond the legal limit unless they choose to contribute more. Earlier, the government notified the labour codes on November 21, 2025, marking one of the biggest reforms in India's work environment in decades. One of the major changes is the new uniform definition of "wages'. Under the codes, statutory social security benefits such as Provident Fund, Gratuity, and ESI will now be calculated based on…...