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Federal civil tax lawsuits have fallen by more than half over the past decade, according to a new analysis. The latest available data from the federal courts indicates that during the first quarter of fiscal year 2020 (Oct. 2019 – Dec. 2019), the government reported 158 new civil filings of federal tax lawsuits. According to […]
Global TaxUpdate, a Lisbon, Portugal-based global tax information provider, has introduced GTU OnDemand, an e-commerce service that provides access to an online store of translated tax legislation. Global TaxUpdate originates from TaxUpdate, a Brazil-based organization with nearly 15 years of experience providing tax information for Brazilian companies. GTU employs a team of linguists and senior […]
Grant Thornton LLP has introduced its new iNDIRECT.360 system to help companies manage their indirect tax processes and data needs. The system handles sales tax, property tax, business licenses, exemption certificate management, consulting and automation of the indirect tax function, using workflow technology. iNDIRECT.360 employs proprietary Grant Thornton technology to import and process raw client […]
FloQast, which makes financial close software, has raised $40 million in Series C funding, earmarked for customer expansion and tech development. This round of funding brings the total FloQast has raised to approximately $72.9 million. According to CEO Michael Whitmire, the long term goal for FloQast is an IPO: “We’re not building a company to […]
Popular forms’ deadlines; sharper eye on S corps; when restitution has mattered; and other highlights from our favorite tax bloggers. The coming grind Intuit ProConnect (http://taxprocenter.proconnect.intuit.com/): Timely opening of the week: “No matter how much they like preparing taxes, they are probably not looking forward to the long hours, increased workload and the lack of […]
The American Institute of CPAs’ Financial Reporting Executive Committee has proposed several working drafts of its guidance on the long-duration insurance accounting standard for insurance companies. The Financial Accounting Standards Board has a new accounting standard on long-duration insurance contracts that makes targeted improvements to the existing recognition, measurement, presentation and disclosure requirements for long-term […]
A group of Senate Democrats has launched an investigation of the regulatory process for the Tax Cuts and Jobs Act and the ways in which exceptions were made for corporations as a result of fierce lobbying with the passage of the 2017 tax overhaul. Senate Finance Committee ranking member Ron Wyden, D-Ore., along with Senators […]
American Citizens Abroad, a group that promotes the interests of U.S.-born expatriates, has updated and relaunched its online Expat Tax Services Directory of firms providing tax services, tax preparation, accounting services, financial advisory and legal services. The group advocates for adoption of residency-based taxation in response to laws like the Foreign Account Tax Compliance Act, […]
This is what CPAs should be focused on. The client’s perceived value is not in compliance. It is in how they can use you to build the value of their business, help them make more money, give them time back to enjoy their life or free up time so they can implement their next vision. […]
Filing taxes last year was a nightmare for taxpayers, their accountants and the Internal Revenue Service. This year might not be much better. The IRS is still working to issue guidance for the changes to the tax code signed into law more than two years ago. Congress also passed a series of tax breaks late […]
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