PE firms expand accounting firm investments

Private equity firms are making further inroads in the accounting profession, with two PE-backed firms announcing a series of deals, and more of today’s top stories.?

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PE firms expand accounting firm investments

Ascend, backed by Alpine Investors, added HD Davis and PP&Co; while its affiliate ATKG Advisors made deals with Michalak CPAs & Advisors and Kowalsky, Rose & Co. Springline Advisory, backed by Trinity Hunt Partners, invested in BGBC Partners.

In other news today:

IRS updates guidance on Obamacare tax credits

The Internal Revenue Service revised its frequently asked questions page on the Premium Tax Credit used for buying health insurance through the ACA marketplaces.

Employer tax credit crackdown could hit industry — if it passes

A provision paying for breaks for parents and business owners has earned widespread praise, but an expert says financial advisors should be on alert.

Tech news: EY launches tech lab for edge computing

Plus, Schneider Downs launches SD Digital group; and other updates from the accounting technology world.

On the move: PBO Advisory Group names next CEO

Schneider Downs launches SD Digital; Bowers CPAs & Advisors relocates in Rochester; and more news from across the profession.

AICPA asks for filing relief for disaster victims

The American Institute of CPAs sent letters to the Treasury and the IRS asking for filing relief for taxpayers affected by major disasters and for more guidance on information returns for grantor trusts.