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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Pittsburgh Business Times

New research shows South Side's economic strength despite "Jersey Shore" reputation

Wed, Dec 12, 2018

South Side's population and job growth outpacing the rest of the city, according to new report by Fourth River Economy ...

NanoGriptech secures $1.7 million in funding

Wed, Dec 12, 2018

NanoGriptech, a Pittsburgh startup that manufactures “gecko-inspired” micro-structured dry adhesives and surfaces for a range of applications, raised $1.7 million in investment from Taiwan-based Industrial Technology Investment Corporation.  The investment will also allow nanoGriptech to grow its customer base across Asia. “We are very excited about the opportunities with nanoGriptech, whose...

Argo AI president speaks at Georgia Tech

Wed, Dec 12, 2018

Newsweek hosted the seminar that focused on how smart autonomous vehicle really are. ...

First tenant commits to Westinghouse headquarters sublease in Cranberry

Wed, Dec 12, 2018

Fortune 500 firm to move regional office of 100 into a portion of Westinghouse's headquarters in Cranberry Woods ...

Pittsburgh's Primal Palate sued over seasoning

Wed, Dec 12, 2018

Lawsuits don't get much spicier than this. McCormick & Co., the Baltimore-based manufacturer of spices, seasonings and condiments recently filed a lawsuit in federal court against the Pittsburgh-based Primal Palate, claiming the latter's "New Bae" spice was a trademark infringement on McCormick's popular "Old Bay" seasoning, according to a report in the Daily Record. "New Bae" is an organic s...

Tech companies talk talent war

Wed, Dec 12, 2018

With a growing shortage of software development talent, Pittsburgh tech companies share strategies. ...

Photos: Filling the Gap event held at Fairmont Pittsburgh

Wed, Dec 12, 2018

A rising tide lifts all boats, but the strong economy has led to a problem that is affecting businesses across the region: a shortage of workers. With southwestern Pennsylvania facing a shortage of 80,000 workers by 2025, a group of regional leaders took part in panel discussion "Filling the Gap," a Pittsburgh Business Times event at the Fairmont Pittsburgh on Dec. 12. Daniel Fitzpatrick, pre...

Cribs for Kids, Seattle research guild team up to fight Sudden Infant Death Syndrome

Wed, Dec 12, 2018

Pittsburgh-based nonprofit Cribs for Kids announced Wednesday that is was partnering with the Aaron Matthew SIDS Research Guild of Seattle Children’s Hospital to launch a research foundation to study Sudden Infant Death Syndrome. The Aaron Matthew Research Foundation of Cribs for Kids will be funded by a portion of the proceeds from the sale of Crib for Kids' Cribette, a safety-approved play-y...

One of Pittsburgh's biggest law firms adding 18th office

Wed, Dec 12, 2018

Dickie McCamey entering Hollidaysburg in central Pennsylvania. ...

Marc USA CFO retiring

Wed, Dec 12, 2018

Zolot worked at agency since 1976, was CFO for past 20 years. ...

US Tax News OECD States Tapped VAT, CIT To Achieve Record Revenues In 2017

Fri, Dec 07, 2018

Last year, the tax burden in OECD countries reached its highest level recorded, at 34.2 percent of gross domestic product, up 20 basis points on 2016, largely due to increasing taxes on personal consumption and companies. ... OECD Reports Progress On Harmful Tax Regimes Work

Fri, Nov 23, 2018

Releasing a progress update, the OECD said international efforts to curb harmful tax practices and prevent the misuse of preferential tax regimes are having a tangible impact worldwide.... FASB Issues New Standard For Variable Interest Entities

Fri, Nov 02, 2018

The Financial Accounting Standards Board (FASB) on October 31 issued Accounting Standards Update 2018-17, intended to reduce the cost and complexity of financial reporting associated with consolidation of variable interest entities (VIEs), for which consolidation is not based on a majority of voting rights.... Estonia Tops Tax Foundation's Tax Competitiveness Index

Mon, Oct 29, 2018

Estonia has topped the Tax Foundation's International Tax Competitiveness Index for the fifth successive year, being deemed to have the "best tax code in the OECD."... Global CPA Body Calls For International Digital Tax Solution

Mon, Oct 29, 2018

The Association of International Certified Professional Accountants has issued a policy paper calling for a multilateral approach to solving the tax challenges posed by the digital economy. ... US Transition Tax Guidance Available

Fri, Oct 12, 2018

On October 10, 2018, the United States Treasury Department and the Internal Revenue Service published a Notice of Proposed Rulemaking in the Federal Register notifying taxpayers of the availability of additional guidance regarding the transition tax under Section 965.... US Urged To Trim Tax Form W-4

Mon, Jul 16, 2018

The American Institute of CPAs has urged the Internal Revenue Service and the US Treasury Department to simplify the draft 2019 Form W-4, Employee's Withholding Allowance Certificate, and the accompanying instructions, to reduce administrative burdens on taxpayers.... IMF Urges US To Hike Indirect Taxes

Fri, Jul 06, 2018

The International Monetary Fund has recommended that the United States raise indirect taxes to boost revenues, to offset the cost of recent tax cuts and spending increases.... IRS Announces Plans To Simplify Personal Income Tax Return

Mon, Jul 09, 2018

The US Internal Revenue Service has announced plans to streamline the personal income tax return for the 2019 tax filing season, to reflect changes brought about by the Tax Cuts and Jobs Act.... Wolters Kluwer Tax Expert Weighs In On Landmark Wayfair Ruling

Fri, Jun 29, 2018

The decision by the US Supreme Court to drop the physical presence requirement for states to impose sales tax will have an "incredible impact" on states' tax regimes and revenues, according to Mark Friedlich, Senior Director of Tax and Accounting, North America, Wolters Kluwer....