The White House today issued an executive order formally creating a Strategic Bitcoin Reserve as well as a U.S. Digital Asset Stockpile. The reserve will treat bitcoin, the first and most popular blockchain-based cryptocurrency, as a reserve asset. It will be capitalized with tokens owned by the Department of Treasury
The American Institute of CPAs is monitoring the situation at the Internal Revenue Service amid reports of layoffs of up to half the staff, keeping in touch with IRS officials about maintaining services during the critical tax season. “In recent weeks, there has been a flood of information regarding the
Custom-made; alter ego trip; super Genius; and other highlights of recent tax cases. Cerritos, California: Customs broker Frank Seung Noah, of Corona, California, has pleaded guilty to defrauding importers out of more than $5 million, including after he had been indicted on fraud charges, and to committing more than $1
Replacing corporate income tax; multigenerational challenge; new blog on the block; and other highlights from our favorite tax bloggers. Sledgehammer questions The fun’s in the challenge The Rosenberg Associates (https://rosenbergassoc.com/blog/): How to work through the challenges of a practice’s multigenerational workforce. Vertex (https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0): As tax authorities worldwide mandate real-time e-invoicing,
The American Institute of CPAs is urging the Treasury Department and the Internal Revenue Service to suspend and remove their recently issued final regulations labeling some partnership related-party transactions as “transactions of interest” that need to be reported. The Treasury and the IRS issued the final regulations in January during
Professional services solutions provider Intapp, during its Intapp Amplify event in New York City on Feb. 26, announced improvements and upgrades to its solutions for time and billing, cybersecurity and AI assistant. Intapp Time Intapp Time, the company’s time tracking and billing solution, now sports an improved interface in a
The departure of audit firms from the Securities and Exchange Commission market can prove a boon for those who remain: Pennsylvania-based auditor Stephano Slack brought on the most new SEC clients in the fourth quarter of 2024 thanks to picking up engagements from an exiting firm — a repeat of
Farmers and fishers who chose to forgo making estimated tax payments by January must generally file their 2024 federal income tax return and pay all taxes by March 3. The usual March 1 deadline, which is a Saturday this year, is pushed back two days. The March 3 deadline applies
Top 10 Firm Baker Tilly announced plans to acquire West Virginia-based Hayflich CPAs PLLC, in its third deal this month. Based in Huntington and founded in 1952, Hayflich provides audit, tax and advisory services, with specialties in the wholesale distribution, construction and manufacturing industries. “Hayflich CPAs has built a strong
Tens of millions of lower-income retirement savers could soon get up to $1,000 in matching contributions toward their nest eggs each year — but they’ll need financial advisors’ help. That’s the key takeaway from a report last month by The Morningstar Center for Retirement & Policy Studies and interviews with