New York Governor Kathy Hochul’s $227 billion budget includes proposals that would make it easier to convert older office buildings into residential use. Property-tax exemptions would be offered to landlords who agree to include affordable housing in their office conversion projects, according to the state budget. The proposal expands on
Childcare shuffle; engineering a scam; one cent for tribute; and other highlights of recent tax cases. Fresno, California: Former IRS employee Deena Vang Lee, 41, has been found guilty of three counts of wire fraud, two counts of aggravated ID theft, five counts of preparing and presenting false and fraudulent
CliftonLarsonAllen, a Top 10 Firm, has added SobelCo, a Regional Leader based in Livingston, New Jersey, effective Feb.1. SobelCo, also known as Sobel &. Co., has been providing accounting, tax and advisory services since 1956. “We chose CLA because of our shared client promise and core values,” said SobelCo managing
EITC education; onboarding is key; expats on the rise; and other highlights from our favorite tax bloggers. Classified information The Wandering Tax Pro (http://wanderingtaxpro.blogspot.com/): Another option for regulation of paid preparers: a voluntary credential program administered by the IRS. National Association of Tax Professionals (https://blog.natptax.com/): The IRS is stepping up
Donald Trump demanded reams of information from the Internal Revenue Service as it was preparing to turn over his personal tax returns to a congressional committee, papering the agency with a deluge of Freedom of Information Act requests in search of a behind-the scenes look at its deliberations, new documents
Like much of the financial world, Carolyn Wilkins, a former deputy governor of the Bank of Canada, was dismayed at the governance failures that led to the collapse of the FTX crypto trading platform. However, while there is much to be said about the specific missteps of those connected to
Sen. Elizabeth Warren, D-Massachusetts, and Senate Finance Committee chairman Ron Wyden, D-Oregon, are asking the Public Company Accounting Oversight Board to do more to regulate the audits of cryptocurrency companies in the wake of recent high-profile bankruptcies of companies like FTX. In a letter Wednesday to PCAOB chair Erica Williams,
The Internal Revenue Service highlighted its annual Earned Income Tax Credit Awareness Day on Friday as a way to help millions of people take advantage of the tax break, but the National Taxpayer Advocate is also pointing out that some of those benefits actually expired and don’t apply this year.
Hundreds of occasions; now for the hard labor; fool me twice; and other highlights of recent tax cases. Scranton, Pennsylvania: Tax preparer Donald Royce, 46, of Orlando, Florida, has been sentenced to 46 months in prison for defrauding taxpayers of more than $250,000. In 2017, Royce was indicted on one
The Internal Revenue Service unveiled a long-awaited online portal Wednesday where businesses will be able to file their 1099 information returns for free. The Information Returns Intake System portal was originally expected to be available on Jan. 9, but needed a little extra testing first (see story). The IRS hopes
