The U.S. Treasury is launching an effort to examine the distribution of federal benefits and taxation by race, starting with a look at the pandemic relief payments that were due to most American households. Deputy Treasury Secretary Wally Adeyemo, along with Lily Batchelder, the Treasury’s assistant secretary for tax policy,
President Joe Biden signed an executive order Monday that seeks to reduce bureaucratic hurdles for Americans seeking government benefits such as Social Security, student loan relief and disaster aid. The order — targeting 36 federal services across multiple agencies and department — also calls for passport renewals to be digitized
Robotic process automation has become a necessary technology for many accounting firms that are trying to achieve more efficiency as the staff becomes harder to find during the ongoing pandemic. Firms like Deloitte are increasingly relying on RPA technology and showing clients how they can achieve more with an already
A group of 99 House Republicans has sent a letter to Internal Revenue Service commissioner Charles Rettig asking for information about how the IRS plans to fix the backlog of unprocessed tax returns before the 2022 filing season. In a letter Thursday, the members pointed out the Treasury Inspector General
Remember strolling through the aisles of Blockbuster Video to find just the right movie on Friday night? At its peak, Blockbuster owned over 9,000 video-rental stores throughout the United States and had 65 million customers. Today, aside from the lone Blockbuster storefront in Bend, Oregon, Blockbuster has essentially disappeared. Why?
The Internal Revenue Service is asking more charities and tax-exempt organizations to file their information returns electronically as required by the Taxpayer First Act of 2019, but its aging systems are experiencing delays that are frustrating tax professionals. Members of the American Institute of CPAs’ Exempt Organizations Taxation Technical Resource
Details: Crowe, a Top 10 Firm based in Chicago, is adding Briggs & Veselka, a Top 100 Firm in Houston, expanding Crowe’s footprint in Texas, effective Jan. 1, 2022. Crowe already has offices in Dallas. Briggs & Veselka dates back to 1973 and now has more than 330 professionals and
Withum, a Top 25 Firm, has released its annual Year-End Tax Planning Guide, along with a Resource Center with articles and checklists that taxpayers and tax professionals can use to prepare for the new year. Withum’s Year-End Tax Planning Guide explains federal, state, local, and international tax issues and compliance
The Internal Revenue Service issued guidance on how businesses should handle the retroactive termination of the Employee Retention Credit. The credit was originally meant to last until the end of 2021, but in the Infrastructure Investment and Jobs Act enacted in the middle of last month, Congress changed the law
Accountants are coming to the aid of doctors and health care organizations who are dealing with not only the COVID-19 pandemic and its variants, but also with changing tax laws and accounting standards. The ever-shifting rules and uncertainties around the Affordable Care Act, the CARES Act and the proposed Build
