The additional $80 billion in funding over the next decade for the Internal Revenue Service from the Inflation Reduction Act is supposed to go toward improving taxpayer service, modernizing the IRS’s outdated technology, increasing enforcement efforts, and hiring more staff to process tax returns and replace retiring employees, but many
Tipalti, which provides payment automation solutions, announced at its annual Illuminate Conference the release of its virtual corporate credit card, the Tipalti Card. The virtual card offers the ability to: Automatically capture card transactions and process them like other payment methods; Create credit or debit cards on demand, with the
Fewer clients = more income; the new car credit; the IRA’s real importance; and other highlights from our favorite tax bloggers. Just imagine Tax Pro Center (https://proconnect.intuit.com/taxprocenter/): Here’s a guy who fired his prep clients — and quadrupled his income. Mauled Again (http://mauledagain.blogspot.com/): For the anti-tax group and for those
Republicans on the Senate Finance Committee introduced legislation Monday to deter the Internal Revenue Service from using the $80 billion in extra funding from the Inflation Reduction Act to increase audits of taxpayers and small businesses earning under $400,000 per year. IRS Commissioner Chuck Rettig and Treasury Secretary Janet Yellen
Victims of the water crisis that began in Mississippi on Aug. 30 now have until February to file various individual and business returns and make tax payments. Following the recent disaster declaration issued by the Federal Emergency Management Agency, the Internal Revenue Service said that affected taxpayer individuals and households
The number of people who think they’re financially savvy but really aren’t has increased over time. Researchers, in a recent study, found that not only do many people overestimate their financial literacy — the number of such people has grown over the years. The study’s authors (from Ohio State University,
Carr, Riggs & Ingram, a Top 25 Firm based in Enterprise, Alabama, has expanded its presence in the Atlanta area by adding Brown, Nelms & Co., a firm based in Peachtree City, Georgia, for an undisclosed sum. Brown Nelms earned $3.7 million in annual revenue and will add 18 staff
Grant Thronton, Chicago, named Fair Opportunity Project to its Purple Paladin program, which helps emerging nonprofit organizations move from “start-up to unstoppable.” Fair Opportunity Project works to make college more affordable by providing personalized mentoring, a downloadable step-by-step college application guide, a self-guided video course, virtual office hours, college essay
TriNet, a provider of human resources technology for small and medium-size businesses, has acquired Clarus R+D Solutions LLC, a fintech company that automates the research and development tax credit process for SMBs, for an undisclosed sum. As part of the deal, Clarus R+D will become a wholly owned subsidiary of
PricewaterhouseCoopers released its 2022 audit quality report Tuesday, pointing to progress in its audit practice on a number of fronts, including on inspections, training and diversity. PwC reported that it had a 100% internal inspection compliance rate, with 99.3% of its reports on internal controls over financial reporting not reissued