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Donald Trump didn’t get the judge he wanted to oversee a legal challenge to House Democrats who want to see the president’s New York state tax records. But Trump got the next best thing — a jurist he appointed to the bench earlier this year. On Thursday, U.S. District Judge Trevor McFadden in Washington declined […]
The Internal Revenue Service has resurrected a form that hasn’t been used since the early 1980s, Form 1099-NEC, Nonemployee Compensation, with a draft version available for preview on its website. Since 1983, the IRS has required businesses to instead file Form 1099-MISC for contract workers and freelancers. The revival of Form 1099-NEC is part of […]
The Internal Revenue Service has started sending letters to over 10,000 taxpayers who own virtual currencies, such as Bitcoin and Ethereum, advising them to pay back taxes on any income they failed to report. The IRS announced on Friday that it began sending the educational letters to taxpayers last week. More than 10,000 taxpayers are […]
If your firm has a WordPress website, deciding whether to perform your own site maintenance or outsource that work to a professional comes down to two main factors: knowledge and time. Many business owners choose WordPress for site creation because it is easy to use and widely known. Unfortunately, many fail to consider the continuous […]
BQE Software, which makes accounting and project management software, has released a new HR module in its Core platform. Core HR provides benefit tracking, salary history tracking, employee journal and incident tracking, certification, awards, paid-time off and employee reviews. The new offering comes shortly after the release of Core Intelligence, a voice-enabled smart dashboard that […]
Since the 2017 reform of the Tax Code — formally known as the Tax Cuts and Jobs Act (TCJA) — was signed into law, accountants and tax professionals have been working overtime to keep up with the bill’s roughly 500 tax law changes. At the top of the list is one particularly vexing provision: the […]
Rudy Giuliani said he was forced to borrow $100,000 from President Donald Trump’s lawyer Marc Mukasey to pay his taxes after his wife tied up a joint bank account in their bitter divorce case. Giuliani, who has been working as a lawyer for Trump free of charge, discussed the loan outside New York state court […]
It won’t make a sound. No tremor will be felt. But by the end of this year, as much as $3 trillion in lease liabilities will have landed on the balance sheets of our nation’s public companies. The trigger? Accounting Standards Codification (ASC) Topic 842, the Financial Accounting Standards Board’s new standard on accounting for […]
The Internal Revenue Service has issued a revenue procedure giving some partnerships extra time to file a Form 1065 and the accompanying Schedule K-1 as long as they haven’t opted out of the IRS’s new centralized partnership audit regime. Andrew Harrer/Bloomberg Revenue Procedure 2019-32 grants eligible partnerships an extension of time to file a superseding […]
Carr, Riggs Ingram has increased its presence in Mississippi by adding Wm. F. Horne Company. The firm, based in Enterprise, Alabama, is adding an office in Laurel with the deal along with the one it already has in Jackson, Mississippi. Financial terms were not disclosed. CRI ranked 20th on Accounting Today’s 2019 list of the […]
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