Taxes April 28, 2025
Taxpayer Fails Test on Frivolous Tax Claim
Tax Court judges are notoriously a no-nonsense bunch. They consistently deny claims by taxpayers that are considered to be “frivolous” in nature.
Small Business April 28, 2025
Trump’s China Tariffs Set to Unleash Supply Jolt on U.S. Economy
Since the U.S. raised levies on China to 145% in early April, cargo shipments have plummeted, perhaps by as much as 60%, according to one estimate. That drastic reduction in goods hasn’t been felt by many Americans yet, but that’s about to change.
Taxes April 25, 2025
Poll Says Trump Should Slow His Roll on Tax Hike Talk
President Donald Trump has said he's open to the idea of raising taxes, particularly on America's top earners; however, a recent poll shows voters are concerned about the prospect of tax hikes and would like to see Trump's 2017 tax cuts kept in place.
Taxes April 24, 2025
How CPAs Can Maximize the Impact of Clean Energy Tax Credits
Accountants can play a crucial role in helping their clients take full advantage of the Inflation Reduction Act's clean energy tax credits through strategic planning.
Taxes April 24, 2025
Trump Says Millionaire Tax Would Push Wealthy to Leave the U.S.
The president said imposing a higher tax rate on millionaires would spur the country’s richest to leave the U.S., downplaying an idea that is under discussion in some Republican circles as a way to pay for an economic package.
Taxes April 24, 2025
He Can’t ‘Raise Taxes on a Whim’: 12 States Ask Court to Halt Trump Tariffs
A dozen states filed a federal lawsuit on April 23 challenging the Trump administration’s imposition of sweeping tariffs, arguing the president trampled on Congress’ powers to raise taxes.
Taxes April 24, 2025
First-Quarter Tax Lobbying Explodes as Reconciliation Package Looms
There were more than 300 new lobbying registrations—disclosures firms file when they acquire new clients—citing tax policy issues, up more than 200% compared to the first quarter last year and more than 260% compared to the previous quarter.
Taxes April 23, 2025
Ex-Treasury Secretary Says Trump ‘Attack’ on IRS Risks $1 Trillion Revenue Hit
Lawrence Summers said that the Trump administration’s moves to downsize the IRS, along with other changes, are likely to incentivize reduced tax-payment compliance.
Technology April 23, 2025
Vertex Invests $15 Million in AI Tax Compliance Startup Kintsugi
Terms of the agreement include a $15 million minority investment representing a 10 percent ownership interest, as well as IP sharing and a commercial arrangement.
Accounting April 22, 2025
PwC and Google Cloud to Advance Strategic Alliance Deal to Transform Tax Compliance Services
The collaboration will leverage Google Cloud's broad AI and agentic AI abilities to increase the value that heads of tax and finance functions can deliver to their stakeholders.
Taxes April 22, 2025
Millionaire Tax Would Generate About $400 Billion in Revenue
A Republican proposal to tax income over $1 million at a 40% rate could generate around $400 billion over a decade, according to estimates from the Budget Lab at Yale and the Tax Foundation.
Taxes April 22, 2025
California Could Give Tax Credit to Businesses for Cleaning Up After Homeless
Sacramento Assemblywoman Stephanie Nguyen, D-Elk Grove, highlighted a new bill this week that would give a tax credit to business owners who say they have to spend money cleaning up after people who camp out on or near their properties.