The New Jersey Society of CPAs announced the recipients of its 2021 Ovation Awards to honor those who have made “significant contributions in advancing the accounting profession.” Forty-one NJCPA members were chosen in all, with categories including a Lifetime Leader Award; Diversity, Equity & Inclusion; Exceptional Educators; Emerging Leaders; Impact; Innovation; and Woman to Watch.
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The Securities and Exchange Commission is reportedly probing William Duhnke, the recently fired chair of the Public Company Accounting Oversight Board. The Wall Street Journal reported Thursday that the SEC is investigating whether Duhnke violated any rules relating to the handling of internal complaints at the PCAOB. Duhnke was abruptly removed earlier this month by
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The White House reiterated President Joe Biden’s opposition to indexing the gasoline tax to inflation to help pay for an infrastructure plan, raising new questions about the viability of a bipartisan compromise emerging in the Senate. “After the extraordinarily hard times that ordinary Americans endured in 2020 — job losses, shrinking incomes, squeezed budgets —
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SpaceX President and COO Gwynne Shotwell Jay Westcott / NASA SpaceX president Gwynne Shotwell returned to her alma mater on Monday and delivered Northwestern University’s commencement address to the class of 2021. Speaking virtually, Shotwell gave Northwestern’s students an overview of her career, especially focusing on the nearly two decades that she’s worked for Elon
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The Biden administration’s proposal to impose a global minimum tax on corporations has been facing pushback in Congress, with Republicans pushing user fees instead to pay for infrastructure improvements. A bipartisan group of senators has proposed indexing the gas tax for inflation as a way to pay for an infrastructure plan, but the White House
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A bipartisan group of Senators introduced the Facilitating American-Built Semiconductors (FABS) Act this week to create a permanent 25 percent investment tax credit for investments in semiconductor manufacturing equipment and construction of related facilities—but their proposal would not address underlying bias against investment that exists in the tax code today. Rather than provide industry-specific tax
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Six months after the approval of the digital services tax (DST), the Spanish government has finally published regulatory guidelines to implement it. The first digital services tax draft bill was published by the Spanish Council of Ministers in October 2019; in October 2020 an identical draft was published and adopted. Although the digital services tax took effect
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Damien Vanderwilt, co-president of Galaxy Digital, Mike Novogratz founder of Galaxy, and Chris Ferraro, co-president of Galaxy Source: Galaxy Digital Goldman Sachs‘s efforts to help hedge funds and other big institutional clients wager on bitcoin have taken a step forward. The bank has begun trading bitcoin futures with Galaxy Digital, the crypto investment firm founded
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Sarah Richmond Sarah Richmond was hired as a director in the audit and assurance services group at Katz, Sapper & Miller, Fort Wayne. Courtney Kincaid was promoted to president and CEO of the Indiana CPA Society, becoming the sixth CEO in INCPAS history and succeeding Jennifer Briggs. Kincaid joined the organization in 2006 and has
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Table of Contents Launch U.S. International Tax Reform Resource Center Key Findings The political effort to address profit shifting and limit the benefits of using low-tax jurisdictions to facilitate cross-border investment has focused on adopting a global minimum tax applicable to large multinational corporations. While a global minimum tax could act as a backstop to
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Starship prototype SN8 flies above Boca Chica, Texas. SpaceX The leader of the Federal Aviation Administration’s space office defended Elon Musk’s SpaceX in front of Congress, despite the company launching a Starship prototype in December without authorization. The House Transportation and Infrastructure Committee held a hearing Wednesday on the FAA’s role in spaceflight, with the
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With many state legislative sessions wrapping up for this year, and a new fiscal year about to begin, it’s a good time to examine some of the 2021 legislative trends—and sports betting taxes are among the more prominent. This year, 11 states have made changes to sports betting regulation and taxes, and Ohio is still
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Anchiy | E+ | Getty Images The age when older Americans must start making withdrawals from retirement accounts could change yet again. Under a provision in proposed retirement legislation pending in Congress, required minimum distributions, or RMDs, would start at age 75 by 2032, up from age 72 — which only took effect last year
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Today’s post will take a closer look at European OECD countries’ Value-Added Tax (VAT) bases. One way to measure a country’s Value-Added Tax base is the VAT revenue ratio. This ratio looks at the difference between the VAT revenue actually collected and collectable VAT revenue under a VAT that was applied at the standard rate on
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