PKF O'Connor Davies Accountants and Advisors
PKF O'Connor Davies Accountants and Advisors

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The latest edition of the PKF International Worldwide Tax Guide for 2020/21 is now available for download. This annual publication covers 146 jurisdictions, providing an overview of taxation and business regulations on a country-by-country basis.

With the IRS moratorium on new audits set to expire on July 15, the IRS Large Business and International (LB&I) Division Commissioner, Douglas O’Donnell, announced the first significant initiative after the moratorium: examinations of several hundred high-net-worth individuals, with a focus on their ownership of partnerships, trusts and other pass-through entities, as well as their involvement with their own private foundations and international holdings.
The IRS has not identified what it considers

While putting together this issue of Cyber Roundup compiling cybersecurity incidents occurring in May 2020, I was brought back to my first personal encounter with a computer virus. I can even give you the date – May 5, 2000 ‒ 20 years ago.

The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-08, Not-For-Profit Entities (Topic 958): Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made (Subtopic 958-605), in part, to eliminate the diversity in practice in recognizing grants received from governmental sources.