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Month: October 2017

Checkbook.io offers digital checks and invoicing services

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October 8, 2017
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The startup Checkbook.io, which provides digital checks, now offers invoice services as well. Checkbook.io was founded three years ago by PJ Gupta, formerly of Visa, who was the chief network architect of the credit card company’s payment network. After he left Visa, he founded Noca, a startup that provided a payment settlement system for Visa, […]

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Posted in Tax News And Info Tagged irs, tax news

Treasury lays out plan for loosening dozens of Wall Street rules

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October 7, 2017
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The Trump administration on Friday urged the overhaul of key rules underpinning trading in U.S. stock, bond and derivatives markets, calling on regulators to loosen dozens of restrictions imposed on Wall Street after the financial crisis. The 220-page report written by the Treasury Department lays out a series of recommendations for the Securities and Exchange […]

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Posted in Tax News And Info Tagged irs, tax news

Cohn cites untapped U.S. growth potential to sell Trump tax plan

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October 7, 2017
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Tax cuts and deregulation can help the U.S. economy grow faster than the recent pace of about 2 percent, even with unemployment at a the lowest level since 2001, National Economic Council Director Gary Cohn said. “We’ve had a couple good quarters of GDP, but we’re still not on a sustainable level of growth that […]

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Posted in Tax News And Info Tagged irs, tax news

Amazon would gain from Trump push to boost cross-border retail

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October 7, 2017
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U.S. online retailers like Amazon.com Inc. stand to gain from the Trump administration’s push to throw open the doors for Canadians and Mexicans to buy American goods duty-free. The U.S. is demanding Canada and Mexico raise the threshold at which duties are applied to purchases crossing the border, according to two people with knowledge of […]

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Posted in Tax News And Info Tagged irs, tax news

House and Senate budget measures advance tax reform

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October 6, 2017
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The House took a giant step on the path of tax reform Thursday by adopting a budget resolution for fiscal year 2018 by a 219 to 208 vote. The same day, the Senate Budget Committee advanced its own version by a 12-11 party-line vote. “This puts wind in the sails of tax reform,” said Dean […]

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Posted in Tax News And Info Tagged irs, tax news

AICPA names 2017-18 Fellowship for Minority Doctoral Students recipients

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October 6, 2017
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The American Institute of CPAs announced the recipients of the 2017-18 Fellowship for Minority Doctoral Students this week, awarding 27 young professionals a total of $318,000. The annual program aims to boost the number of minority CPAs teaching in classrooms across the country. “One of the best ways to foster increased diversity in the accounting […]

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Posted in Tax News And Info Tagged irs, tax news

Tax Fraud Blotter: Fatherly fraud

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October 6, 2017
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Oh, baby; all in the family; 63 calls to Western Union; and other highlights of recent tax cases. Beaumont, Texas: Shannon Tecoko Mays, 39, has pleaded guilty to federal tax violations and failure to appear for his trial on that charge in early 2015. According to information presented in court, an investigation began in August […]

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Posted in Tax News And Info Tagged irs, tax news

Accountants Confidence Index — October 2017

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October 5, 2017
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Posted in Tax News And Info Tagged irs, tax news

Lawmakers question IRS’s no-bid $7.25M contract with Equifax

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October 5, 2017
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Leaders of the Senate Finance Committee said they were “taken aback” to find out the Internal Revenue Service has recently signed a $7.25 million contract with Equifax for verifying taxpayer identities after the company admitted to a massive data breach exposing the personal information of approximately half of all Americans. Senate Finance Committee chairman Orrin […]

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Posted in Tax News And Info Tagged irs, tax news

How to convert to a Roth IRA in 2017 and defer tax till 2018 if tax reform passes

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October 5, 2017
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Taxpayers who have decided to convert a traditional IRA into a Roth IRA may be wondering if they should take the plunge now and pay tax on the conversion this year, or wait till next year when tax rates may be lower under the reform plan Congress will reportedly consider this fall. Fortunately, those sold […]

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Posted in Tax News And Info Tagged irs, tax news
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