The Treasury Department and the Internal Revenue Service issued proposed regulations Friday for several provisions of the SECURE 2.0 Act, including ones related to automatic enrollment in 401(k) and 403(b) plans, and the Roth IRA catchup rule. SECURE 2.0 Act passed at the end of 2022 and contained an extensive
On the record Chicago: Attorney Michael Abramson, of Wilmette Illinois, has been convicted of tax fraud, attempting to tamper with a witness and violating a court order. Abramson filed and caused to be filed false individual returns for himself and false corporate returns for a company in which he held
The Treasury Department and the Internal Revenue Service released final rules Tuesday for the Clean Electricity Investment and Production Tax Credits in Sections 45Y and 48E of the Tax Code. The tax credits, also known as the “technology-neutral credits,” aim to reduce energy costs and meet growing demand created by
One suspect in the two New Year’s Day incidents being probed as terror attacks was a former U.S. Army sergeant from Texas who recently worked for Big Four firm Deloitte. The other was a U.S. Army special forces sergeant from Colorado on leave from active duty. Law enforcement officials on
The traditionally static field of auditing is on the edge of an industry-changing transformation, thanks to AI. As pattern-learning AI machines quickly incorporate themselves into industry after industry, auditing is next in line. Industry giants like the Big Four and Wolters Kluwer are already using AI in their reporting functions.
Foreshadowing TCJA talk; BOI ping-pong; rightful claims; and other highlights from our favorite tax bloggers. Meltdown mode Tax Foundation (https://taxfoundation.org/blog): The Congressional Budget Office and the Joint Committee on Taxation recently published analyses of extending provisions of the TCJA that provide insights on the looming debate. Tax Notes (https://www.taxnotes.com/procedurally-taxing): Can
What happens when the world of accounting meets the world of fintech? Sparks fly! Together, they’re rewriting the rules and creating something entirely new. Fintech is shaking up traditional accounting, turbocharging everything from automated bookkeeping to real-time insights. It’s not just about crunching numbers anymore — it’s about smarter, faster,
Close observers of the AI development community may have noticed a particular idea discussed within the field that goes beyond workflow automation and data analytics into something much more esoteric: the Singularity. The precise definition can be hard to pin down, as it can mean different things to different people.
Prime numbers; Power play; Great White sharks; and other highlights of recent tax cases. Westbury, New York: Business owner Victor Aguayo has pleaded guilty to not collecting and paying over employment taxes from employee wages. Aguayo was owner and president of Mabel Interior Design Inc., an interior painting business. He
BOI is back; phantom stocks; continuous compliance; and other highlights from our favorite tax bloggers. Just in time Tax Vox (https://www.taxpolicycenter.org/taxvox): Who benefits and who loses from extending major provisions of the Tax Cuts and Jobs Act? Taxing Subjects (https://www.drakesoftware.com/blog): The Republican party can shape legislative priorities for the next