CalCPA Daily Clips

CalCPA
CalCPA
May 27 · 3 min read

May 27, 2021

BUSINESS
5 trends to watch during the pandemic recovery
Inflation fears, labor shortages and real estate issues all are top of mind as the US appears to be emerging from the COVID-19 pandemic.
Journal of Accountancy
— — -
Ways to reimagine the way we work in the digital age
The pandemic accelerated digitization, but it also spotlighted the importance of human strengths such as creativity and adaptability. Here are ways to further support those strengths in the workforce.
FM
— — -
How flexible should hybrid work be?
Companies might consider mandating which days employees can work from home, with adjustments made at a team level, rather than letting everyone decide which specific days to come in. This would be designed to prevent some of the diversity issues that can arise when everyone sets their own schedule.
Harvard Business Review
— — -
Enterprise Risk Management: How to Make It a Priority
Moving an organization to next-level ERM practices produces better decision-making and faster responses to disruption.
CFO
— — -
Crypto Goes Corporate: Litigation Sure To Follow
Until recently, cryptocurrencies appeared to be far from the kind of institutionally sound investments that would be attractive to CFOs looking to diversify a corporate portfolio.
Forbes

PERSONAL FINANCE
Retirement accounts at risk of cybertheft
Savers should be aware that thieves might target their retirement accounts, which can include significant amounts of money. Here is a look at one couple’s experience after thieves siphoned $40,000 out of their account.
WMAQ-TV

PROFESSION
New AICPA chair brings passion for attracting talent to accounting
Bill Pirolli, CPA/CFF/PFS, CGMA, whose year as AICPA board chair begins this week, hopes to motivate accountants everywhere to inspire young people in the same way that his accounting instructor inspired him when he was a student at Rhode Island Junior College.
Journal of Accountancy

REGULATORY
SBA debuts grant program to build connections with small businesses
The Small Business Administration is rolling out a $100 million program that will provide grants worth up to $5 million to organizations that can informally connect small businesses to the SBA’s resources, and offer other counseling and networking.
Cleveland
— — -
Nasdaq requests removal of cap on direct listing shares
Nasdaq has asked the SEC to remove the cap on how high shares can trade following a direct listing. Nasdaq states in its SEC filing that the current limit might make companies reluctant to go public via direct listing.
Reuters
— — -
Gensler: SEC to review rules for SPACs, crypto tokens
The SEC will consider possible new rules to protect investors from the risks presented by special purpose acquisition companies and crypto tokens, chair Gary Gensler said in testimony prepared for delivery to a House subcommittee. Overseeing SPACs has been a challenge for the SEC, which has seen its staff reduced by 4% since 2016.
Reuters
— — -
New interpretation of debt cancellation proposed for federal accounting
FASAB is looking for input on a proposed interpretation of the federal financial accounting standards for cancelled debt.
AccountingToday

TAX
The partner-to-partner attribution trap and the anti-churning rules
Whenever taxpayers are dealing with tax basis step-up transactions involving related parties or rollover equity interests, consideration should be given to the anti-churning rules.
The Tax Adviser
— — -
IRS Updates Pub. 590B on IRA Distributions
But is it really the final fix for the SECURE Act 10-Year RMD Rule?
CPATrendlines
— — -
IRS disburses billions more in Economic Impact Payments, plus-up payments
The IRS disbursed more than 1.8 million additional Economic Impact Payments totaling over $3.5 billion under the American Rescue Plan in the past two weeks.
AccountingToday
— — -
Is There a Right Time to Donate for Tax Purposes?
Is there a right time to make a charitable donation so you can get the largest deduction possible on your 2021 taxes?
AccountingWeb
— — -
Read this if you’re working remotely in 2021 and don’t want to make serious mistakes on your taxes
Not only could you get in trouble with the IRS, your mistakes could get you fired.
FastCompany

TECH
The rise of the cloud data platform
As impressive as the enterprise’s progress toward a data-driven economy was last year, the big bang we’ve been expecting from big data is still ahead.
CIO

CalCPA Daily Clips

News for CPAs and businesses.

CalCPA Daily Clips

Each weekday morning, CalCPA reviews major media sources for top headlines and links to news and information vital to CPAs and the businesses and clients they serve.

CalCPA

Written by

CalCPA

CalCPA is the largest state accounting society in the U.S. We are a community of CPAs leading, connecting and empowering the profession for success in CA.

CalCPA Daily Clips

Each weekday morning, CalCPA reviews major media sources for top headlines and links to news and information vital to CPAs and the businesses and clients they serve.