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IRS mobilizes for disaster response
In response to Hurricane Helene, the IRS is deploying over 500 employees to assist the Federal Emergency Management Agency (FEMA) with disaster relief efforts. These employees will help manage FEMA’s call lines, providing crucial support to victims seeking federal assistance. The IRS has a long history of aiding FEMA during emergencies, having answered over 1.6m…
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Chinese tell PwC’s global chair to change corporate culture
China’s vice-finance minister, Guo Tingting, has met with PwC’s global chair, Mohamed Kande, following a significant fine imposed on PwC Zhong Tian, the firm’s mainland unit. The unit was fined 441m yuan (US$62.2m) for its auditing failures related to the bankrupt China Evergrande Group. Guo expressed hopes that PwC would adhere to Chinese laws and…
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Tax refunds made easier for California’s property owners
Property owners in California will find it easier to receive tax refunds following the signing of Assembly Bill 3134 by Gov. Gavin Newsom. This new legislation, introduced by Assemblymember Phillip Chen, allows county assessors to issue automatic refunds without a claim if the amount is less than $10,000, up from the previous limit of $5,000….
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Schellman becomes first certification body for ISO AI standard
Top 50 firm Schellman has become the first ANSI National Accreditation Board-accredited International Organization for Standardization 42001 certification body, allowing the firm to certify organizations on the world’s first artificial intelligence management system standard.
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Accounting firms must adapt or fall behind
The accounting profession is undergoing significant changes, necessitating firms to adapt to evolving client needs. During the sixth annual Accountant Partner Council, industry leaders discussed the pressing talent shortage, with Matt Gardner, chief executive of Hiline, stating: “The shortage of incoming talent isn’t a new problem, and it isn’t going away any time soon.” Innovative…
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Colorado announces new food tax credit
The Colorado Department of Agriculture announced a new initiative on September 20th 2024, aimed at enhancing access to healthy foods through the Community Food Access Tax Credit. This program offers a refundable income tax credit for small businesses purchasing eligible equipment to improve grocery access in underserved areas. With an annual budget of up to…
