Irish Pub Chain’s Ex-CFO Falsified Documents to Avoid Paying $1M in Sales Tax in Eight States
Former Claddagh Irish Pubs finance chief Ciaran Dillon was charged with two counts of wire fraud.
Taxes
North Carolina Will Tax Student Loan Forgiveness
Under North Carolina tax law, the canceled loans are considered taxable income at the state level.
Unlike Mississippi, Maine Will Not Tax Forgiven Student Loans
Maine added forgiven loan debt to federal tax code changes it adopted in recent round of tax conformity.
Forgiven Student Loans Won’t be Taxed as Income by Pennsylvania, Governor Says
Bloomberg reported earlier this week that Pennsylvania was among 13 states that treat forgiven debts as income.
Inflation Nation: U.S. Business Executives Project Zero Profit Growth for Coming Year
Revenue projections also fell, quarter over quarter, from an expected 3.4% growth rate over the next 12 months to 2.6%.
Mississippi Will Tax Forgiven Student Debt in a Departure From Other States
The canceled debt will be subject to income taxes, the state’s Department of Revenue confirmed.
Bloomberg Tax Adds Research on the Inflation Reduction Act of 2022
The new Inflation Reduction Act of 2022 Watch Page covers key tax provisions, including extension of the expanded Affordable Care Act health plan premium assistance
Business Execs Not Using Tax Data for Policy Changes
The survey indicates that the profession is moving the needle with promising investments in diverse talent, a greater willingness to upskill inhouse employee ...
Lawmaker Says Massachusetts Students Will Not Pay $500 in Taxes on Student Debt Cancellations
Rep. Steven Owens said the state Legislature has exempted forgiven student loans from taxable income.
California Man Pleads Guilty to $25 Million PPP Loan Fraud Involving Pro Athletes
Conspired to prepare and file with the IRS a series of false and fraudulent income tax returns on behalf of at least nine professional athletes.
Florida Tax Preparer Gets 1 Year in Prison for Contempt
Convicted of criminal contempt for continuing to prepare and file tax returns with the IRS in violation of a federal court order barring him from doing so.
How to Overcome Client Hesitation When It Comes to Advisory Services
When it comes to offering advisory services to your clients, new and old, it’s essential to start at step one: what does the client want?
AICPA CEO Says Claims of a Militarized IRS are Misleading Myths
In a statement, AICPA president and CEO, Barry Melancon, CPA, CGMA, addressed various false claims about militarization of the agency ...
New Intuit Tax Advisor System Integrates Tax Prep and Advisory
ITA generates client-friendly reports with recommendations that are personalized for estimated tax savings strategies.
N.Y. Borrowers Will Not Owe Taxes on Forgiven Student Debt
Officials in New York said Monday that the canceled student debt will not be taxable in the Empire State.
These 13 States Consider Student Loan Debt Forgiveness Taxable Income
Taxpayers in those states with $10,000 in forgiven debt could owe hundreds of extra dollars on their state tax returns.