An analysis of the IRC Section 199A qualified business income deduction has been issued by Thomson Reuters. The Checkpoint Catalyst Topic discusses the section's statutory construction, activities eligible for the deduction, limitations and prohibitions, and areas where additional guidance is needed before the provision can be properly implemented.

The managing partner and a principal at the accounting firm Armao LLP have been arrested on allegations of covering up a union officer’s alleged embezzlement of union funds. Managing partner Salvatore Armao, a certified fraud examiner, and principal, Karen Auer, are accused helping to conceal the use of more than $100,000 by the union president from the union and its welfare benefit plan for personal expenses.

Intuit is now accepting submissions for its 2018 Global Firm of the Future contest. The selection is open to firms based in Australia, Canada, the United Kingdom, the United States and, for the first time, India. The competition is open to bookkeeping and full-service accounting and tax firms.