Capital markets

The path was nearly cleared for one of the cornerstones of President Joe Biden's domestic agenda after Democrats agreed on a revised version of their tax and climate bill.

The Arizona Democrat, a pivotal vote in the Senate, is asking to drop a provision from the bill that would scale back a tax break for fund managers, known as carried interest.

Now that Senator Joe Manchin is on board with a $433 billion tax and climate bill, Democrats, Republicans and the private equity industry all are trying to suss out where the Arizona lawmaker stands.

The Top 25 Firm has expanded its presence in New Jersey after receiving private equity funding.

The Arizona lawmaker is “reviewing the text and will need to review what comes out of the parliamentarian process.”

The current interest in the profession on the part of private equity bears more than a passing resemblance to trends from the 1990s.

Citrin Cooperman acquired Shepard Schwartz & Harris; MarksNelson bought Integrity Advisory; and CLM is acquired by private investors.

RubinBrown merged in Himes Consulting Group; WA Asset Management acquired BT Wealth Management; and BigTime Software acquired Projector PSA.

Citrin Cooperman, a Top 25 Firm based in New York, completed the acquisition of Kingston Smith Barlevi, a Los Angeles-based firm that specialized in the media and entertainment industries.

EisnerAmper, a Top 20 Firm based in New York, is adding Raich Ende Malter & Co. a Top 80 Firm, also based in the city, with the deal expected to close this summer.

TaxBit Inc. plans to announce Tuesday that Haun Ventures is a strategic investor in the startup, even as digital currencies face increasing regulatory pressure.

Phil Whitman offers a primer on what the entry of PE money into the accounting profession means for firms.

The Top 25 Firm has added a consulting firm in Massachusetts that specializes in helping clients price their services to win federal government contracts.

Private equity firm New Mountain Capital has acquired a majority interest in Citrin Cooperman, a Top 25 Firm based in New York.

The payroll and HCM solutions provider has added enhancements; Surgent releases an audit-focused course; and other updates from the accounting technology arena.

The Top 20 Firm is adding an accounting and advisory firm headquartered in Manhattan.

There’s something to be said for bottom line discipline, but no matter how much tech we bring into the equation, CPA firms are first and foremost a “people business.”

Citrin Cooperman, a Top 25 Firm based in New York, has expanded its presence to South Florida by adding two firms, Appelrouth, Farah & Co. PA, in Coral Gables, and Bloom, Gettis & Habib PA, in Miami.

Warren Averett became the latest accounting firm to receive capital from a private equity or investment firm, but in this case the money will go to the firm’s asset management subsidiary.

The Internal Revenue Service provided detailed reporting directions Wednesday for certain passthrough entities and taxpayers reporting partnership interests held in connection with the performance of services, often referred to as “carried interest.”