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The Internal Revenue Service opened its Free File program on Friday, more than two weeks before the official start of tax season, with changes that should make it easier for taxpayers to find the free versions of tax prep software from vendors who have been accused of misleading consumers into paying for the products. In […]
BKD and MBAF each relocate NYC offices; AAM celebrates 30 years with new logo and Facebook Live event; and more CPA news.
Thomson Reuters has introduced a new product, GoSystem Tax RS, which provides virtual currency organization for 1040 preparation. While legislation around cryptocurrencies have been slow, the IRS has introduced a new question on the 1040 form around whether an individual has invested in cryptocurrency. Now there is no way around it: Cryptocurrency investments must be […]
Many dark money groups that raise funds for political and social causes and don’t pay taxes aren’t notifying the Internal Revenue Service of their intent to operate as tax-exempt organizations under section 501(c)4 of the Tax Code and haven’t been penalized, according to a new report. The report, from the Treasury Inspector General for Tax […]
Accounting firms are beginning to wade into the use of blockchain technology for audits, but with caution as the technology spreads beyond the cryptocurrency space where it’s been used for digital assets like Bitcoin. “I don’t know that blockchain is going to necessarily make things easier for auditors,” said Amy Steele, an audit and assurance […]
Bad news; ’tis the season; injunction schmunction; and other highlights of recent tax cases. Las Vegas: Josiah Ntekume has pleaded guilty to aggravated ID theft, wire fraud, theft of government property and access device fraud relating to a stolen ID tax fraud. Ntekume was involved in a scheme to file false returns using stolen IDs […]
The National Society of Accountants Foundation announced on Wednesday that it is accepting applications for its 2020-21 student scholarships. Scholarships will provide financial assistance to American and Canadian accounting students. Applicants must be currently enrolled in an accounting degree program at an accredited two- or four-year college or university. Applicants will be judged on factors […]
Windes merges in Smith, Linden Basso; UHY Advisors acquires Stewart, Beauvis Whipple; TYS merges with Lefkowitz; and McGuire Sponsel acquires Align Global Consulting.
The International Ethics Standards Board for Accountants has released a set of revisions to the International Code of Ethics for Professional Accountants, making some changes in the independence standards for assurance engagements, other than audit and review engagements. The revisions to Part 4B of the code of ethics fulfill a commitment announced by IESBA in […]
The Internal Revenue Service’s announcement last month delaying a requirement for reporting partners’ share of partnership capital offers some extra time to busy tax practitioners, but the issue still isn’t going away and may lead to some other problems. “The best news we just got about filing season is the IRS delayed for a year […]
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