Timothy Fadek/Bloomberg The Internal Revenue Service has unveiled annual inflation adjustments for tax year 2026 for more than 60 tax provisions, including tax rate schedules and other tax changes, with Rev. Proc. 2025-32 providing all the details. These adjustments generally apply to tax returns filed in 2027. For Tax Year 2026,
Stefani Reynolds/Photographer: Stefani Reynolds/B The Internal Revenue Service will furlough just under half of its staff and pause most of the agency’s taxpayer services as gridlock in Congress pushes the government shutdown into its second week. The plan released Wednesday, which calls for about 34,000 workers to be furloughed, represents
Top 50 Firm Doeren Mayhew acquired Nashville-based CPA firm Carson & McKinney CPAs, expanding its presence in the region, effective as of Sept. 22. Carson & McKinney was founded in 1932 and provides tax, assurance, consulting and outsourced accounting services to individuals and businesses throughout Middle Tennessee. It has over
Top 25 firm Baker Tilly announced the launch of a new AI platform made specifically for middle market clients, which will be supported and maintained by Baker Tilly professionals over the long term. The solution, dubbed Collaborative AI, connects employees to company data and knowledge bases—such as emails, transcripts, and
The accounting profession now lives in a world awash in software solutions, ranging from your typical everything-but-the-kitchen-sink suites to the best of breed in handling one very specific process, and everything in-between. With so many different applications to choose from, it’s easy for accounting firm leaders to feel paralyzed by
The Internal Revenue Service issued guidance on the corporate alternative minimum tax in response to comments it received. The Inflation Reduction Act of 2022 created the CAMT, which imposes a 15% minimum tax on the adjusted financial statement income of large corporations for taxable years beginning after Dec. 31, 2022.
The Internal Revenue Service was able to steer through this past tax season despite extensive staffing cuts, but next tax season could be a problem, according to a new report. The report, released Wednesday by the Treasury Inspector General for Tax Administration, provided the final results of the 2025 filing
Timothy Fadek/Bloomberg The Internal Revenue Service and its community partners are seeking volunteers to support the Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs. VITA and TCE sites are generally available for individuals and families who are eligible for the Earned Income Tax Credit, and help such populations as
CEO of Strategy Michael SaylorEva Marie Uzcategui/Bloomberg Strategy Inc. shares rose the most in two weeks after the Bitcoin treasury company founded by Michael Saylor said that it will no longer be subject to the U.S. corporate alternative minimum tax. As Bitcoin prices gained this year, Strategy expected in 2026
The Securities and Exchange Commission issued an order to reduce the operating costs of the consolidated audit trail. The 2025 CAT budget originally approved was over $248 million. Now, given the recent order and other cost amendments, its expenses are forecasted to drop an additional $20 million, which is $27