Big Four accounting firm PwC made waves earlier this year by introducing a “work anywhere” policy for its 55,000 US employees, allowing them to choose an all-virtual work option. The policy is intended to help PwC attract new talent and retain top talent in a competitive market. The tax profession isn’t always leading the charge…
In April, Kelly announced the first Bloomberg Tax & Accounting Insights student writing competition. The contest sought to highlight the very best of student writing. A panel of judges from the Bloomberg Tax team scored and reviewed every entry, and the winners from schools around the globe represent the best young talent in the tax…
From working from home to deductions to Wayfair, it’s clear that state and local taxes (SALT) have become critical in the tax world. While the focus used to sit squarely on federal taxes, the industry lens seems to be shifting more and more toward SALT. State and local taxes can seem complicated, especially in a…
In September, about 17.6 million tax returns were still awaiting processing, and the IRS expects to receive over 4 million more in October. The delay has left many taxpayers frustrated, especially those grappling with error notices and being charged penalties and interest for alleged mistakes. Those penalties add up. For the fiscal year 2020, the…
It’s been a long 18 months for tax professionals–deemed #marchternity on Twitter. But is there light at the end of the tunnel? According to the 2021 Accountants Confidence Report, tax and accounting professionals are confident their clients’ finances will improve over the next 12-18 months. However, the same report shows industry professionals are also pessimistic…
Over the past year, Kelly has talked a lot about “the profession.” Broadly, that refers to the tax world. However, tax as a career isn’t always easy to categorize, and not all tax professionals are accountants or preparers. Kelly is often asked how to get started in tax, and since the answer can be so…
In 2008, pop star Britney Spears was put under a court-sanctioned conservatorship. That meant other people (including her father), named as conservators, could make decisions about her career and money. The story has attracted so much attention that it has its own New York Times documentary, and its own hashtag on Twitter, known as the…
In March of 2020, Congress introduced a new tax credit: the Employee Retention Credit (ERC) as part of the CARES Act. The ERC was a direct response to the pandemic and was designed to help businesses keep employees on the payroll. But the ERC got off to a rocky start and was quickly overshadowed by…
While partnerships have given Kelly many headaches, many tax professionals are drawn to them because of their notorious detail and nuance. It may not be surprising that new tax technology innovations often enter the world of partnerships before other areas of tax practice. As business and partnership complexity grows, so does the challenge of tax…
Michael Jackson’s death on June 25, 2009, shocked the world. And the legal drama that followed shocked many tax attorneys. At the time of his death, Jackson was clearly worth millions, but the exact value of his estate was unclear. The matter eventually went to court, where a ruling found that Michael Jackson’s image and…