High Quality Work…Great Customer Service.
The controls over the pseudonym program used by Internal Revenue Service employees to protect their identities could be improved, according to a recent report. The report, released last month by the Treasury Inspector General for Tax Administration, pointed out that the pseudonym program dates back to 1992, allowing IRS employees to use a fictitious name […]
Donald Trump will get a chance next week to try new arguments against Manhattan District Attorney Cyrus Vance’s subpoena of his tax returns and other financial records after the U.S. Supreme Court rejected the president’s claim of immunity in the matter. The high court on Thursday said presidents do not have broad protections against state […]
The Internal Revenue Service has released final regulations on deductions for two of the international tax regimes introduced under the Tax Cuts and Jobs Act of 2017: foreign-derived intangible income (FDII) and global intangible low-taxed income (GILTI) for U.S.-based multinational corporations. The final regulations offer guidance on both the computation of the deductions available and […]
Sentence stayed; stealing on multiple levels; the loot you took; and other highlights of recent tax cases. Milaca, Minnesota: Preparer Cindy Halgren has been sentenced to up to 23 months in prison for preparing and filing fraudulent returns and failing to pay individual income tax. In March, Halgren pleaded guilty to 15 tax-related felonies consisting […]
Donald Trump scored a tactical victory from the Supreme Court that will likely keep his personal financial records out of public view through the November election, but he framed Thursday’s two rulings as a loss imposed by his enemies. The president was rebuffed in his broader effort to establish that a president can’t be forced […]
The Association of Chartered Certified Accountants and the PrimeGlobal association of accounting firms have signed an agreement to work together on several projects, including thought leadership, professional research and insights, along with learning and development in areas of mutual interest and value for their members and communities. The two organizations said Wednesday they will work […]
The Internal Revenue Service reminded taxpayers Wednesday that they will need to resume paying their taxes on July 15 as its “People First Initiative” to provide tax and penalty relief in response to the novel coronavirus pandemic comes to a close, but the American Institute of CPAs is asking for further tax relief, as an […]
Under normal circumstances, accountants anecdotally experience very high levels of stress, especially during key times of year depending on their focus: tax season, month-end close, or the end of a fiscal year. But 2020 is testing the profession’s resiliency like nothing has before, and accountants are losing sleep, skipping vacations, and working longer hours to […]
Property tax disparity; finding clients with social media; remembering Kleinbard; and other highlights from our favorite tax bloggers. Striking the right discord TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): State by state, neighborhood by neighborhood, black families pay 13 percent more in property taxes each year than a white family would in the same situation, a massive new data […]
Vertex has filed for an IPO, riding the wave of success the Supreme Court Wayfair decision has brought tax automation providers. The company is following in the footsteps of competitor Avalara, which went public in 2018 just days before the decision in South Dakota v. Wayfair came down. Avalara’s bet was correct — the landmark […]
Powered by WordPress. AwesomeOne theme by Flythemes