The IRS and politics — nothing new; AICPA priorities; new blog on the block; and other highlights from our favorite tax bloggers. Capitol punishment Don’t Mess with Taxes (http://dontmesswithtaxes.typepad.com/): When in the past — and under what presidents and going after what targets — has the IRS gotten political? Tax
Having the right tools can help to bring safety and security to your firm and give you peace of mind, if utilized wisely. Safety and security come in many forms. At times, we feel like we police these policies at the tax and accounting level, and we have to. It’s
The Tax Cuts and Jobs Act of 2017 had virtually no effect on reducing compensation of top executives at companies despite promises to the contrary, according to a new study. The study pointed out that one of the many provisions of the wide-ranging tax reform package that was pushed through
We’ve seen tremendous changes in the accounting industry over the past ten years. We’ve moved from desktop to cloud-based accounting software. We’ve ditched hourly billing and adopted fixed-fee or value pricing. We’ve listened to the experts and have started offering advisory services in addition to compliance work. Some of us
The Treasury Department has developed a framework with other federal agencies for engaging with foreign countries on the regulation of digital assets, in response to an executive order from President Biden, even as lawmakers in Congress have proposed their own industry-friendly legislation. The Treasury Secretary, in consultation with heads of
The Internal Revenue Service has posted a revenue procedure to give widows and widowers the ability to file for an extension of time on a tax exclusion beyond the fifth anniversary of their spouse’s death. Revenue Procedure 2022-32, released Friday by the IRS, provides a simplified method for certain estates
Due to extensive interest, Accounting Today is extending the deadline for submissions for its annual Managing Partner Elite list of top firm leaders to the end of the day Thursday, July 14. The MP Elite report, which will be published in the August issue, identifies and profiles approximately a dozen
The secret to maximizing the takeaways from any professional education event is to have a plan of action when you return home, especially if you are planning to go on summer break. Here’s my plan for taking all of the connections, education, and opportunities I gained at the conferences I
Angel of fraud; time with the kids; from one cell to another; and other highlights of recent tax cases. Louisville, Kentucky: Attorney Keith Hunter has been convicted for engaging in tax evasion. Hunter evaded federal income taxes, penalties and interest for 2000, 2001, 2002, 2006, 2008 and 2011, a total
Court documents show the potential conflicts of interest when accounting firms simultaneously help clients avoid taxes and audit their finances.
