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Big Four firm KPMG has announced that the Villanova School of Business and the University of Southern California’s Leventhal School of Accounting have added a tax concentration to their KPMG Master of Accounting with Data and Analytics Program, effective for the 2020-21 academic year. The schools join the University of Mississippi’s Patterson School of Accountancy […]
House Democrats issued two subpoenas to compel Treasury Secretary Steven Mnuchin and IRS Commissioner Chuck Rettig to release President Donald Trump’s tax returns, House Ways and Means Chairman Richard Neal said. The move is Neal’s latest attempt to obtain six years of the president’s personal and business tax information after Mnuchin rejected his initial request […]
Various EFINs; Mr. Plow; toothsome; and other highlights of recent tax cases. Phoenix: Preparer Maurice L. Smith has pleaded guilty to aiding and assisting in the preparation and presentation of false and fraudulent income tax returns. According to case papers, Smith worked as a preparer since at least 2009, operating his business from his residence. […]
The many ramifications of the Supreme Court’s Wayfair decision, combined with the vast expansion of the digital world, have made sales taxes and tax professionals more important than ever, according to Avalara co-founder and CEO Scott McFarlane. “2018 was the Year of the Tax Professional,” he told the more than 900 attendees at the tax […]
Like most, I have read the New York Times article that analyzes President Donald Trump’s past tax returns. The Times was able to obtain access to tax return information from someone who had “legal access” to the president’s IRS transcripts for the 1985-1994 tax years. These electronic IRS records provide a wealth of information – […]
The United Kingdom’s Financial Reporting Council has fined KPMG’s U.K. firm £5 million (discounted through a settlement to £4 million, or about $5.2 million) for its fiscal year 2009 audits of the Co-operative Bank. The FRC also severely reprimanded the firm for its audits and imposed sanctions against KPMG and one of its audit partners […]
The Internal Revenue Service has issued a notice setting the inflation-adjusted maximum value of a vehicle provided by an employer to an employee for personal use at a maximum of $50,400 for tax purposes. Andrew Harrer/Bloomberg Notice 2019-34 provides the inflation-adjusted maximum value of a vehicle — such as a car, van or truck — […]
Certain tax-exempt organizations must file 990-series returns by Wednesday, May 15, the deadline for organizations operating on a calendar year. By law, the Internal Revenue Service and most tax-exempt organizations are also required to publicly disclose most parts of 990 filings, but release of Social Security Numbers and other personally identifiable information about donors, clients […]
The Internal Revenue Service is launching an investigation of the Free File program amid complaints that tax software companies are making it difficult for qualified taxpayers to access free tax prep software, as Los Angeles and New York State also take action. Timothy Fadek/Bloomberg The move comes after a series of reports on the investigative […]
Making reform permanent; the high cost of raising royalty; messy IRS math; and other highlights from our favorite tax bloggers. A multitude of reasons Tax Vox (https://www.taxpolicycenter.org/taxvox): One favorite opening of the week: “I believe that every person in the tax policy game — from members of the tax-writing committees to research assistants at the […]
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