Weekly News Round Up: IRS Expects Millions of Amended Returns; DoD’s Budget Cap Plan; and Personal Finance Apps
April 28, 2014 - By: SC&H Group
Welcome to the Weekly News Round Up from the SC&H blog. Each week, we showcase a series of news stories that span everything from government contracting to personal finance to state and local tax issues.
This week, we have compiled stories about the IRS expecting millions of taxpayers to amend their returns this year, and regulators fearing that big data is compromising the quality of audits. In addition, the Department of Defense (DoD) has launched its plan for cutting procurement dollars in the face of the current spending cap.
IRS Expects Millions of Amended Tax Returns
The Internal Revenue Service anticipates that nearly 5 million taxpayers will amend their returns by filing Form 1040X this year.
DoD Details Planned Cuts If Budget Caps Remain
Should U.S. defense spending caps remain in place, the Pentagon has laid out plans for how it would cut $66 billion in procurement and research-and-development projects between 2016 and 2019.
The SI Organization to Acquire QinetiQ North America Services and Solution Group
The SI Organization has signed a definitive agreement to acquire QinetiQ North America Services and Solutions Group.
Regulators Fear Big Data Threatens Audit Quality
Regulators around the world are worried that a rise in audit firms’ consulting business and a corresponding slowdown in the growth of revenues from traditional audits will hurt the quality of those audits, according to a member of the PCAOB.
ISACA Explains Interplay of COBIT Framework with COSO
ISACA has published a guide to explain how its COBIT framework relates to the new COSO Internal Control—Integrated Framework.
GSA Continues Real Estate Consolidation Efforts
The General Services Administration, the country’s largest property owner, is targeting real estate as part of an effort to cut costs and reduce the government’s carbon footprint.
5 Great Personal Finance Apps to Keep You On Track
The Wall Street Journal has compiled a list of the top 5 personal finance mobile apps.