Taxes April 28, 2023
The IRS is Trying to Change the Way Businesses Report Tips
The IRS's proposed SITCA program seeks to streamline reporting—and, of course, increase tax compliance.
Sales Tax April 27, 2023
Avalara Announces New E-Invoicing Certifications and Participation in Local and Global Exchange Networks to Support Tax Compliance for Businesses and Governments
Avalara intends to be accredited by the Digital Business Networks Alliance as an access point and service provider to facilitate the sending and receiving of electronic business documents over...
Taxes April 27, 2023
IRS Agent Seeks Whistleblower Status to Discuss Problems with Hunter Biden Tax Probe
The agent claims the IRS mishandled an investigation into Hunter Biden and wants to disclose concerns about his taxes.
Taxes April 27, 2023
What to Make of Changes to Sec. 174 Research and Experimentation Costs
The new provisions mandate five-year amortization of domestic Section 174 research and experimental (R&E) costs, and 15-year amortization of foreign R&E costs.
Accounting April 26, 2023
Pennsylvania Institute of Certified Public Accountants Issues 2023 State of Pennsylvania Public Accounting Firms Study
The State of Pennsylvania Accounting Firms in 2023 is a comprehensive white paper conveying critical insights for practitioners while highlighting the challenges and opportunities...
Taxes April 26, 2023
South Carolina Return Preparer Pleads Guilty to Filing False Tax Returns
The total tax loss from his criminal conduct was approximately $320,000.
Taxes April 26, 2023
Federal and State Taxation of Life Settlements
Since proceeds up to the policyholder's cost basis aren't taxable, the lower cost basis triggered a larger tax burden for selling policyholders.
Taxes April 26, 2023
Partnerships Face Increased Tax Audit Risk
Here are the five time-sensitive actions that a partnership or its representative should take within 30 days of receiving the notice of selection for examination.
Taxes April 24, 2023
What to Do if You Missed the April 18 IRS Income Tax Filing Deadline
Taxpayers who owe and missed the deadline without requesting an extension should file quickly to limit penalties and interest.
Taxes April 24, 2023
The Tax Blotter – April 2023 – Sec. 529 Plans Get Updates
A Section 529 plan is a tax-favored way to save for a child’s college education. Contributions can grow without any current tax while distributions to pay for qualified expenses like tuition are tax-exempt.
Taxes April 21, 2023
IRS Says Phone Wait Times Have Dropped to 4 Minutes
Thanks to last year’s Inflation Reduction Act, the IRS got a funding boost that enabled it to improve taxpayer service.
Accounting April 21, 2023
Bloomberg Tax Provision Adds Data Transformation and Automation Capabilities
The new functionality enables Bloomberg Tax Provision customers to automate workflows across the tax provision lifecycle.