Taxes February 12, 2026
Senate Votes to Overturn D.C. Tax Decoupling, as Locals Push Back
The Senate passed a joint resolution on Thursday blocking changes to the District of Columbia’s tax code, which will now head to President Donald Trump’s desk.
Taxes February 16, 2024
Michigan Gets IRS Tax Extension to June 17 Due to Storms
Currently, this includes Eaton, Ingham, Ionia, Kent, Livingston, Macomb, Monroe, Oakland and Wayne counties. Individuals and households that reside or have a business in these localities qualify for tax relief.
Accounting Standards February 15, 2024
AICPA Wants BOI Rule Suspended
Despite the AICPA’s extensive efforts, in coordination with many other stakeholders, to inform small businesses of their new obligations concerning BOI reporting, many remain broadly unaware of their reporting requirement.
Taxes February 15, 2024
Filed Tax Returns Are Down 19% So Far This Filing Season—But There’s a Reason Why, IRS Says
The IRS released a slew of early tax season 2024 stats last week, calling it “a strong start to filing season, with all systems running well.”
Taxes February 15, 2024
7 Warning Signs of an Incorrect ERC Claim
The IRS listed several red flags of a questionable employee retention credit claim to help businesses resolve incorrect submissions.
Taxes February 14, 2024
IRS Seeks More Than $1 Billion From SVB for Taxes
The IRS claims Silicon Valley Bank owes both corporate income and employment taxes spanning a four-year period ending in 2023.
Taxes February 14, 2024
AICPA Provides Recommendations on Proposed Regulations Under Section 987
The proposed regs provide a new transition rule replacing the 2016 final regulations fresh start methodology, which accounts for the unrecognized section 987 gain or loss accrued before the transition date.
Taxes February 12, 2024
Why Businesses with High Capex Should Delay Filing Their Tax Returns This Year
With a bipartisan bill making its way through Congress, entrepreneurs might be able to take advantage of additional tax cuts.
Taxes February 8, 2024
IRS Cautions Tax Pros About New EFIN Email Scam
The IRS warned that scammers are posing as tax software providers and requesting EFIN documents from tax professionals.
February 8, 2024
AICPA Asks Treasury for Guidance on Domestic Grantor Trusts
AICPA’s recommendations focus on simplifying filing for taxpayers and practitioners and reducing the administrative burden on the IRS.
IRS February 7, 2024
Retired IRS Agent Gets Month in Jail for Causing Fatal Crash in Ohio
James Farley pleaded guilty last month to aggravated vehicular homicide, which is a third-degree felony.
Taxes February 7, 2024
IRS Launches Hub for Employer-Provided Childcare Tax Credit
The new webpage gives information on the tax incentive for businesses that provide childcare services to their employees.
Income Tax February 7, 2024
AICPA Says FBAR Deadline Should Match Disaster Relief Deadline Extensions
The AICPA recommends that FinCEN adopt a policy of automatically granting FBAR filing postponements to coincide with the relief provided by the IRS when the IRS grants postponements