Taxes July 7, 2026
New Jersey Eyes 9% Tax on Prediction Markets
New Jersey lawmakers are advancing a bill that would impose an additional 9 percent tax on income earned by companies and individuals that operate prediction markets.
Taxes April 21, 2023
AICPA Recommends Improvements to Regulations on Section 645, Election to Treat Trust as Part of an Estate
TD 9032 describes the procedures and requirements for making an election to have certain revocable trusts treated and taxed as part of an estate.
Taxes April 20, 2023
Arizona Tax Preparer Accused of Drug Smuggling Now in Trouble for Tax Fraud
Nour Abubakr Nour was indicted by a federal grand jury and accused of filing fraudulent tax returns to reap inflated fees.
Taxes April 19, 2023
Trump CFO Allen Weisselberg Released From Jail After 100 Days For Tax Fraud
Donald Trump’s longtime moneyman, convicted of criminal tax fraud last August, was sprung from Rikers Island.
Taxes April 19, 2023
Biden Taxes Show Income of $580,000 in 2022
The Bidens were responsible for $169,820 in combined federal, Delaware, and Virginia income taxes last year.
Taxes April 17, 2023
Just 10 Electric Vehicles Qualify for Full $7,500 U.S. Tax Credit
GM, Tesla, and Ford all have at least one EV that qualifies, while Ford and Stellantis have one eligible plug-in hybrid model.
Accounting April 14, 2023
FASB Issues New Accounting Rules for Investments in Tax Credit Structures
Reporting entities can now elect to account for qualifying tax equity investments using the proportional amortization method.
Taxes April 13, 2023
Using a Go-Between for 1031 Exchanges
The favorable tax treatment isn’t automatic. To avoid current tax, you and the qualified intermediary must sign a "Qualified Exchange Accommodation Agreement."
Taxes April 12, 2023
$1.5 Billion in Unclaimed Tax Refunds from 2019 Set to Expire in July 2023, Says IRS
Taxpayers usually have three years to file and claim their tax refunds. If they don't file within three years, the money becomes the property of the U.S. Treasury.
Taxes April 12, 2023
Tax Angles to Intra-Family Loans
if you can’t present clear and convincing evidence that the loan is tied to a business transaction, the transaction may be deemed to be a gift.
Taxes April 12, 2023
When is it Beneficial to Pass Up the Home Sale Exclusion?
Depending on the circumstances, it may be better to bypass the exclusion on a current sale and save it for the time when it will do you more tax good.
Taxes April 12, 2023
15 Ways Accountants Can Make More Money Under the New IRS Strategic Operations Plan
Now that the IRS has just released its Strategic Operations Plan which lays out the allocation of the funds, you may want to pay close attention to this plan.
Accounting April 12, 2023
IRS Incorporates AICPA Recommendations in Strategic Operating Plan
The spending plan includes goals and timetables covering areas such as operations support, enforcement, taxpayer services and IT modernization.