Taxes January 16, 2025
IRS to Pilot Changes to Alternative Dispute Resolution Programs
The initiative focuses on changes to the existing Fast-Track Settlement (FTS) and Post-Appeals Mediation programs, and introduces a third pilot, Last Chance FTS.
Small Business January 16, 2025
High Number of Shoppers Committed First-Party Fraud Over the 2024 Holiday Shopping Season
First-party fraud, sometimes referred to as “friendly fraud,” occurs when consumers exploit return and refund policies for financial gain.
Mergers and Acquisitions January 16, 2025
Surge in Corporate M&A Activity Expected in 2025
Global mergers and acquisitions (M&A) achieved a significant rise in completed deals in 2024, led by a resurgence in large transactions driving momentum into 2025, according to research from WTW’s Quarterly Deal Performance Monitor (QDPM).
Mergers and Acquisitions January 16, 2025
Pennsylvania Firm KDG Strengthens Market Leadership With Acquisition of Kennedy & Associates
This strategic move, finalized in December, significantly enhances KDG's portfolio in small to midsized business tax, managed accounting, and fractional CFO services.
Taxes January 15, 2025
Deadline for Forms W-2, W-3 and 1099-NEC Due on Jan. 31, Says IRS
Employees should also be provided with their copies by this date, so they can make preparations for filing taxes by April 15.
Taxes January 15, 2025
Treasury, IRS List Qualifying Technologies for Clean Electricity Tax Credits
The Treasury Department and the IRS on Jan. 15 published the first Annual Table that provides greenhouse gas emissions rates for certain types or categories of facilities that are eligible for the Clean Electricity Production Tax Credit and the Clean Electricity Investment Tax Credit.
Taxes January 15, 2025
IRS Proposes Regs, Draft Form for Corporate Separations and Reorganizations
The Treasury Department and the IRS on Monday released proposed regulations for corporate separations and reorganizations, as well as reporting requirements for multiyear corporate separations and a draft version of new Form 7216.
Taxes January 15, 2025
IRS and Treasury Department Float New Rules for Qualified Commercial Clean Vehicle Tax Credit
Under Section 45W of the tax code, the credit may be claimed by purchasing and placing in service qualified commercial clean vehicles, including certain battery electric vehicles, plug-in hybrid EVs, fuel cell EVs, and plug-in hybrid fuel cell EVs.
Technology January 15, 2025
insightsoftware Acquires JustPerform to Deliver Unified, No-Code, Cloud-Native Enterprise Performance Management
The demand for EPM platforms is surging as organizations seek integrated, cloud-native solutions to address budgeting, forecasting, and consolidation challenges with real-time accuracy.
Taxes January 15, 2025
IRS, Treasury Lay Out Guidance on Clean Fuels Production Credit
Section 45Z of the tax code provides a tax credit for the production of transportation fuels with lifecycle greenhouse gas emissions below certain levels. The credit is in effect in 2025 and is for sustainable aviation fuel and non-SAF transportation fuels.
Taxes January 15, 2025
IRS, Treasury Final Rules Classify Partnership Basis Shifting Transactions as ‘Transactions of Interest’
Last June, the Treasury Department and the IRS proposed new guidance aimed at stopping the use of basis shifting—transactions where an individual or business moves assets to a related party to avoid paying taxes.
Firm Management January 15, 2025
Nexia Announces Appointment of Matthew Howell as CEO
With a distinguished career spanning over two decades in senior leadership roles within membership organizations and professional services, Howell brings a wealth of experience to the Nexia network.
Contributors
Amy Vetter
CPA, CITP, CGMA
Brian Tankersley
CPA, CITP, CGMA
Garrett Wagner
CPA, CITP, CEO and Founder of C3 Evolution Group
Jim Boomer
CPA, CITP, CEO
Ken Berry, JD
CPA Practice Advisor Tax Correspondent
Mary Girsch-Bock
Contributing Writer
Randy Johnston
MCS, MCP
