Payroll July 23, 2023
Colorado Businessman Gets 15 Months for $737K Employment Tax Evasion
A Colorado man has been sentenced to 15 months in prison for evading the payment of more than $700,000 in employment taxes he owed to the IRS.
Taxes July 21, 2023
Pop Star Shakira to Face Second Tax Fraud Probe in Spain
The singer will soon stand trial for allegedly failing to pay 14.5 million euros ($13.9 million) in taxes between 2012 and 2014.
Taxes July 20, 2023
SALT Shakes Up House Republican Tax Package Discussions
House Republicans pushing to force relief from the $10,000 state and local tax cap could be a major challenge to GOP leadership.
Taxes July 19, 2023
Tax Issues When Selling a House After a Divorce
What are the tax consequences regarding a home sale if you and your spouse split up or divorce?
Payroll July 19, 2023
FAFSA Changes Rules on 529 Plans, Making It Easier for Grandparents and Others to Help Students
Previously, any money that grandparents gave a grandchild for college had to be reported as student untaxed income on the FAFSA, potentially lowering the student’s eligibility for financial aid.
Taxes July 18, 2023
State and Local Taxes Changing At Rapid Pace
Over the past 60 years, in times of adverse economic cycles, sales taxes have provided a more resilient method of funding relative to income and property taxes.
Taxes July 17, 2023
Taxpayers Warned About Frivolous Tax Claims
A frivolous claim is one that is used to support an unreasonable entry on your returns or the failure to file a return. Numerous such claims have been shot down by the IRS, as well as the courts, in recent years.
![globe-flags[1]](https://www.cpapracticeadvisor.com/wp-content/uploads/2022/07/33706/globe_flags_1_.5ce342f3a9102.png)
Accounting July 11, 2023
Global Sanctions Pose Significant Challenges for Financial Institutions
According to the survey, 76% of financial institutions are experiencing enhanced regulatory scrutiny related to sanctions since early 2022.
Payroll July 7, 2023
14 Charged with $53 Million PPP Fraud Scheme in N. Texas
Fourteen people were charged in a $53 million fraud scheme involving the federal government’s pandemic relief program, including some executives from a Dallas metal recycling firm.
July 6, 2023
How to Realize Tax Rewards with Sec. 1244 Stock
Be aware, however, that this special tax treatment isn’t automatic. To qualify for Section 1244 treatment, the following four main requirements must be met.
Taxes July 6, 2023
How to Deduct Business Expenses While on Vacation
When planning your travels this summer or any other time of the year—business or personal—just remember that the IRS pays close attention to expenses incurred.
Accounting July 5, 2023
New York CPAs Elect Liren Wei as President of State Society
Wei joined the NYSSCPA in 1994 and is a member of the Queens/Brooklyn Chapter, where he served as president, president-elect, and currently sits on the Executive Board.