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The Internal Revenue Service needs to improve its procedures to prevent the fraudulent use of third-party authorization forms, such as power of attorney filings, to obtain taxpayer information, according to a new report. The report, from the Treasury Inspector General for Tax Administration, evaluated the IRS’s controls when authenticating requests from individuals who try to […]
The Connecticut Department of Revenue Services released guidance this week on the recently enacted Pass-Through Entity Tax Credit, which state lawmakers approved this spring as a way to get around limits in the new federal tax law on state and local tax deductions. Connecticut Governor Dannel Malloy Connecticut Governor Dannel Malloy signed the law at […]
President Donald Trump said he’s considering a capital gains tax break by issuing a regulation that would index gains to inflation. “I’m thinking about it,” Trump said Thursday in an Oval Office interview with Bloomberg News. In the wide-ranging interview he also expressed support for Fed Chairman Jerome Powell and said embattled Attorney General Jeff […]
The staffing company Robert Half has released its annual salary guide for accounting and finance employees. The 2019 Robert Half Salary Guide for Accounting and Finance Professionals includes starting salary ranges for more than 190 positions and insight into emerging trends. In addition to accounting and finance employees, Robert Half also released separate salary guides […]
President Trump’s recent tweet suggesting the SEC rethink the requirement for public companies to report their results quarterly has ignited a debate about this topic. Image: Bloomberg In speaking with some of the world’s top business leaders I asked what it is that would make business (jobs) even better in the U.S. “Stop quarterly reporting […]
Accounting Principals has released its 2019 Salary Guide, containing national, regional and local salary data and total cash compensation figures, along with detailed job descriptions for the most heavily sought-after accounting and finance positions. The figures in the 2019 Salary Guide are based on national averages, compiled through Accounting Principals’ partnership with CareerBliss. To further […]
The Internal Revenue Service and the Treasury Department published a notice Tuesday saying they intend to issue proposed regulations clarifying who is a qualifying relative for the new $500 credit for dependents and head of household filing status for years in which the exemption amount is zero for tax years 2018 through 2025. Notice 2018-70 […]
The Massachusetts Society of CPAs has launched an accounting-focused “college academy” for local high school students. With the inaugural program held at Haverhill High School in Haverhill, Mass., participating students can earn up to 12 college credits through the University of Massachusetts—Lowell, marking the first program of its kind to be offered within the state. […]
The Internal Revenue Service and the Treasury Department are following up on their threat to forestall attempts by states to get around the $10,000 limit in the Tax Cuts and Jobs Act on deductions of state and local taxes by setting up state-run charitable contribution funds. Last Thursday, the IRS and the Treasury Department issued […]
BCS ProSoft, a technology services firm and provider of Sage, Deltek and NetSuite business management systems, has finalized a merger with Platinum level Sage 100 partner Steward Consulting Inc. BCS will acquire substantially all the assets of SCI, and the transaction will close on Sept. 1, 2018. BCS ProSoft is No. 55 on Accounting Today’s […]
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