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The group behind a proposed 5% wealth tax in California is pushing for a compromise with Governor Gavin Newsom by pitching a 2% levy instead.

The proposal to slash the tax to 4% from 5% can't go before Massachusetts voters in November because of misleading language in the official summary.

China Evergrande's liquidators have asked a court to void a shareholder compensation deal a regulator struck with PricewaterhouseCoopers' Hong Kong affiliate.

The firm is offering voluntary redundancy packages to a number of staffers in response to low levels of staff attrition in its audit practice.

Regional Leader Kernutt Stokes will acquire accounting firm Fordham & Co, effective July 1, to grow its presence in Portland, Oregon.

The proposal, which would impose a one-time 5% tax on a billionaire's net worth, has become one of the most closely watched political fights in California.

French President Emmanuel Macron refused to drop the country's digital tax after Donald Trump threatened new tariffs, setting the stage for a confrontation.

Vermont signed a bill into law that creates an additional pathway to CPA licensure — one of the few states left to pass changes to licensure requirements.

The Financial Reporting Council is probing accountancy firms linked to Market Financial Solutions Ltd., a mortgage lender backed by multiple Wall Street banks.

The collapse of the property developer is raising concerns among some partners at its former auditor about the potential impact on their own finances.

Local governments in Florida will face "greater credit pressure" if voters OK a plan to largely eliminate property taxes on over half of homes in the state.

The Draper, Utah-based firm acquired Assure CPA in Spokane, Washington, expanding its Pacific Northwest presence and adding public-company audit capabilities.

KNAV Advisory received another investment from NKSquared, the U.S. investment vehicle of Indian billionaire Nikhil Kamath.

The Top 25 Firm acquired Waldron H. Rand & Co. in Dedham, Massachusetts, expanding its presence in the Greater Boston area.

A budget analyst estimated about 5,100 properties would have been eligible for the tax, generating between $9.2 million to $21.4 million in its first year.

Florida lawmakers approved a stripped-down version of a proposal from Gov. Ron DeSantis to slash property taxes, removing local school districts from the plan.

Crete Professionals Alliance partner firm Accuity acquired Carbonaro CPAs & Management Group, expanding its presence in Hawaii.

The Top 20 Firm acquired Isdaner & Company, an accounting and advisory firm in Bala Cynwyd, Pennsylvania, effective June 1.

Adams Brown Technology Specialists acquired Parsons, Kansas-based technology provider Higher Calling Technologies.

The state CPA societies of Maine, Massachusetts, New Hampshire, Rhode Island and Vermont merged to form the New England Society of CPAs.