The Deloitte offices in LondonJack Taylor/Getty Images Deloitte, New York, released a survey that found U.S. companies are preparing for an increase in demand for high-quality environmental, social and governance disclosures. (Read the full story.) The International Ethics Standards Board for Accountants, New York, appointed new members to the Technology
Internal Revenue Service Commissioner Charles Rettig pledged to do more to improve taxpayer service after Congress approved a $675 million funding increase. “Taxpayer service remains the most significant IRS priority, and we have implemented many new, innovative strategies in an effort to improve our overall level of service and processing
Too many letters; IRS funding, finally; pruning; and other highlights from our favorite tax bloggers. Sense of fulfillment Procedurally Taxing (https://procedurallytaxing.com): Over several decades, correspondence examinations became the IRS go-to for auditing some four out of five individual targeted taxpayers. Originally designed for “less complex” matters, correspondence exams are now
Most accounting firms have been very busy over the past two years — with COVID-19’s impact on the economy and the government’s response creating plenty of new work — but with the pandemic winding down (hopefully), this year’s Regional Leaders aren’t going to rely on circumstances to keep themselves busy
Senate Finance Committee chair Ron Wyden, D-Oregon, said Friday he is developing policies that could remove some tax benefits available to Russian and Belarusian individuals and entities that earn income from the U.S., as well as U.S.-based multinational companies that do business in those countries. For individuals, he noted that
National Tax Day (April 15) has not been modified since 1955. In 1955, the Tax Code was 929 pages. Today, it’s more than 6,600 pages. Why haven’t we updated our filing deadline? Accuracy matters. The proper calculation of tax liabilities is important for both the Treasury and taxpayers. Serving an
The Internal Revenue Service is looking to hire more than 5,000 employees in three cities over the next few months, and another 5,000 employees over the course of the next year. It has also added voice and chat bots on some of its phone lines and its website as part
Patriot Software, an accounting technology and payroll services company, announced that it has successfully patented a “dual-ledger accounting” software feature. The patent explains it as a system and method for selectively displaying accounting data in both cash and accrual basis formats. This allows a user to track cash, modified cash
Ledgible — the makers of Crypto Tax Pro — introduced the Ledgible Crypto Platform, which allows tax professionals to make tax estimates on digital asset liabilities. The software, which supports multiple integrations across different blockchains, exchanges and wallets, aims to help tax pros determine cryptocurrency tax liabilities and deliver that
Tax software providers Sovos and Comply Exchange announced a new partnership that will provide automation and data management tools for tax compliance and withholding. Users of the newly integrated product, accessed via Sovos, will be able to automate collection, validation and management of Forms W-8, W-9 and 8233, and self-certifications,