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With congressional Republicans firmly opposed to considering any tax increases to help close the federal budget deficit, the high-stakes negotiations over raising the debt ceiling by August 2 seem to be gradually coalescing around a contingency plan offered by Senate Minority Leader Mitch McConnell, R-Ken.

MNP LLP, one of Canada’s largest chartered accounting and consulting firms, plans to merge in Stern Cohen Shier Inc., an insolvency firm based in the Toronto area, effective Sept. 1.

IMGCAP(1)]I think it’s safe to say no one really likes to receive negative feedback on a service their firm provides.

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CALIFORNIA

Riney Hancock president to head KSBA

The Treasury Department and the Internal Revenue Service issued a notice Thursday announcing plans to phase in the requirements of the Foreign Account Tax Compliance Act and explaining how foreign financial institutions can comply with the U.S. law.

Grant Thornton LLP has been selected by CCH—a Wolters Kluwer business—as the preferred implementer of CCH Global Integrator, a Web-based service that provides global data collection and consolidation, tax provisioning and tax reporting on a single system.

KPMG announced that it achieved a 22 percent carbon reduction over three years from its 2007 baseline target, reduced paper consumption by 33 percent and emissions from electricity by 16 percent.