U.S. states’ tax revenue is sliding broadly, raising the prospect of difficult budget decisions in coming years for officials as they spend through cash amassed during the pandemic. Total state tax revenue sank in September for the 14th straight month on an inflation-adjusted basis, falling by 5.6% from a year
The Internal Revenue Service Advisory Council said the agency needs to work to educate lawmakers to prevent them from shutting off future funding after last year’s infusion from the Inflation Reduction Act. In its annual report for 2023, IRSAC said that in the wake of the IRA, Congress did not appropriate
Bookkeep, an accounting automation platform, announced the hiring of Alison Ball as Vice President of Marketing and Communications. In her role, Ball will direct Bookkeep’s marketing and communication strategy. Her focus will be creating new campaigns that improve understanding and adoption of Bookkeep’s full suite of services. … Cybersecurity platform
Each year, Accounting Today and Best Companies Group recognize the 100 Best Firms to Work For in the U.S. — and then we pick the 10 Best Firms for Young Accountants from among those, based on the responses of their younger staff to a comprehensive employee survey. Meet the firms
The Internal Revenue Service’s development of its newly introduced business tax accounts and recent improvements in its tax pro accounts could be jeopardized if funding is cut. The House voted Thursday to provide $14.3 billion in aid to Israel in its war against Hamas (see story). The bill is mainly
Gainful employment; waste not; Mr. Plow; and other highlights of recent tax cases. Wilkes-Barre, Pennsylvania: Madeline Nieves has been sentenced to 15 months in prison for conspiring to defraud the United States. Nieves previously pleaded guilty to conspiring to evade taxes for both her personal returns and those for a
How much money is the internet responsible for on a daily basis, and how much would be lost if the entire world lost internet access for a whole day? The answer, according to a recent report from Atlas VPN, is about $43 billion. Atlas VPN, a virtual private network provider,
Officials from the Internal Revenue Service’s Criminal Investigation division met with tax officials from four other countries this week in an annual “cyber challenge” as they explored ways to cooperate across borders on uncovering tax evasion and money laundering schemes using cryptocurrency and other digital technology. The Joint Chiefs of
The Internal Revenue Service is once again extending for another year the transition period during which taxpayers have 45 days to perfect a research credit claim for refund before the IRS makes its final decision about the claim. They will now have through Jan. 10, 2025, to perfect the claim.
The continued classification of marijuana as a Schedule I controlled substance has put cannabis businesses in a bind as far as federal taxes go, even as more states have moved to legalize recreational and medical use of marijuana. The Department of Health and Human Services made an official recommendation in