Taxes June 26, 2023
Supreme Court to Rule on Legality of Wealth Tax
The Supreme Court announced Monday it will weigh in on the constitutionality of wealth taxes, with a ruling expected in fall 2023.
Firm Management June 26, 2023
BDO USA is Shifting From a Partnership to a Corporation
The sixth largest accounting firm in the U.S. will be known as BDO USA P.A. after the change in its structure becomes official July 1.
Taxes June 26, 2023
AICPA Requests Guidance on Non-Fungible Tokens and Clarity on Digital Assets & Virtual Currency Reporting
The AICPA is encouraging Treasury and the IRS to issue guidance on specific issues to assist taxpayers in properly reporting transactions with virtual currency.
Taxes June 23, 2023
Transcripts From Hunter Biden Probe Released by House Ways and Means
The panel voted along party lines to make public 400 pages of transcripts from interviews with two IRS employees.
Taxes June 22, 2023
H&R Block Partners with Microsoft for Tax Prep AI
The system uses thousands of machine learning models trained with millions of tax returns, AI algorithms, and generative AI technology.
Taxes June 22, 2023
Ex-NFL Linebacker Bill Romanowski Owes $15 Million in Unpaid Taxes, Court Filing Says
The IRS seeks to finally collect on a ballooning tax bill for the 16-year NFL star and his wife that dates back 25 years.
Taxes June 21, 2023
House Ways and Means to Review Tax Documents of ‘High-Profile Individual’
The panel scheduled the June 22 meeting on Tuesday hours after Hunter Biden agreed to plead guilty to tax evasion charges.
Taxes June 21, 2023
Understanding Estate Planning Will Help Cut Your Tax Liability
By employing effective estate and tax strategies, business owners can optimize their financial legacies and minimize tax hurdles.
Taxes June 21, 2023
‘What a Difference a Year Makes!’: IRS Has Made a Huge Dent in Tax Return Backlog
In her midyear report to Congress, National Taxpayer Advocate Erin Collins shared several IRS improvements this filing season.
Taxes June 20, 2023
Democrats’ Latest Child Tax Credit Plan Pushes Bonus for Babies
House Democrats’ latest proposal to expand the child tax credit includes a new feature: a $2,000 payment for newborn babies.
Taxes June 20, 2023
Hunter Biden to Plead Guilty to Tax and Gun Charges
Hunter Biden has been charged with illegally possessing a handgun in 2018 as well as two tax misdemeanors, for failing to file and pay taxes on time in 2017 and 2018.
Accounting June 15, 2023
Avalara Launches Sales Tax Calculator Plugin for ChatGPT
Avalara is the first tax compliance software provider to work with OpenAI to use its protocol to build an integrated plugin for ChatGPT.