No prize in the box; slick; Pacific time; and other highlights of recent tax cases. Vancouver, Washington: Saul Valdez, owner of a business that offered immigrants a variety of services, has pleaded guilty to tax fraud. An unlicensed tax preparer, he led his immigrant customers to believe he was filling
A group of senators on both sides of the aisle is asking the Internal Revenue Service’s new commissioner, Daniel Werfel, to warn taxpayers and tax professionals about the emerging threat of tax scams produced by artificial intelligence programs and chatbots like ChatGPT. Sen. Chuck Grassley, R-Iowa, Maggie Hassan, D-New Hampshire,
Dumping bad clients; another crypto challenge; no IRS notice; and other highlights from our favorite tax bloggers. Debt do us part Well-worn paths Tax Pro Center (https://proconnect.intuit.com/taxprocenter/): Getting Off the Hamster Wheel Dept.: How to take the occasion of season’s end to dump the troublesome clients. Procedurally Taxing (https://procedurallytaxing.com): Has
BDO USA LLP unveiled its initial sustainability report Monday, highlighting areas where it has made progress in its environmental, social and governance efforts. The report focuses on the firm’s initiatives during fiscal year 2022, between May 1, 2021 and April 30, 2022. Among them, BDO launched a Center of Excellence
The verdict for this year’s tax season is that it was one of the most normal in years, without any of the craziness of the first three season of the COVID pandemic, or the massive tax law changes of the few years before that — and that’s all reflected in
Victims of severe storms, straight-line winds and tornadoes in Oklahoma on April 19 and 20 now have until Aug. 31 to file various federal individual and business returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency. Individuals and households that reside
The narrow requirements for qualifying for the electric vehicle tax credits under the Inflation Reduction Act are causing some consternation in the auto industry, as they only seem to apply to a limited number of models, so accountants need to advise clients carefully about new vehicle purchases. On April 18,
Whitley Penn is adding Cogenics Consulting, a technology consulting firm in Pleasanton, California, expanding the Fort Worth, Texas-based Top 50 Firm’s client accounting and advisory services team, effective June 1. Cogenics specializes in data analytics and digital transformation for financial forecasting, analysis and strategic planning. It works with applications and
The statute’s start; chat’s all, folks; costs of fraud; and other highlights from our favorite tax bloggers. Just saying Post-game show Wolters Kluwer (https://www.wolterskluwer.com/en/solutions/tax-accounting-us/industry-news): Another season in the books. But this year the afterglow includes everyone’s special agency and its new strategic plan. And how what’s in it may determine
The Internal Revenue Service has slightly revised its 2014 guidance on the treatment of virtual currency to reflect the fact that some countries now accept Bitcoin as legal tender. The IRS issued Notice 2023-34 on Monday, basically updating Notice 2014-21 because it stated that digital currencies were not legal tender;
