Senate Republicans are poised to sink a $78 billion tax-cut package, gambling that they’ll win the majority in November and can push then for bigger breaks for business. They also don’t want to hand President Joe Biden an election-year victory on the legislation, which includes both child and business
Crowe LLP, a Top 25 Firm based in Chicago, entered into an agreement with Belt Harris Pechacek LLLP, a Houston-based firm that provides audit and support services to local Texas governments, for the BHP team to join Crowe. The transaction is expected to close in the next 30 days, and
Off and Bozo-ing; the 100% tariff; Johnston on hot trends; and other highlights from our favorite tax bloggers. The rubber and the road University of Illinois Tax School Blog (https://taxschool.illinois.edu/blog/): “Employee” versus “independent contractor” — a look at recent guidance on this endlessly thorny question. The Rosenberg Associates (https://rosenbergassoc.com/blog/): Chalk
Four years after the start of the COVID-19 pandemic, the Internal Revenue Service’s Criminal Investigation division has investigated 1,644 tax and money laundering cases related to fraud around pandemic relief programs worth potentially $8.9 billion. As of the end of February, 795 persons had been indicted and 373 sentenced to
Whether they plan to use an accountant (63%) or prepare their own return (37%), a significant number of Americans procrastinate when it comes to filing their taxes. Almost a fifth (19%) will file in April or later, and 8% will file for an extension. Why? Procrastinators say that the process
New technology from progressive generative AI firm C.P.A.AI has been put to the test this year. In January, their AI Busy Season Bot was launched to an audience of CPAs eager to get their hands on the advanced technology. Local CPA firm Watts, Taber and Fiske had been searching for
Having dominated the quarterly lists of new Securities and Exchange Commission audit engagements for the first half of 2023, Top 100 Firm Cohen & Co. topped the rankings for the whole year by a wide margin. The Cleveland-based firm grabbed the top spot almost entirely due to its March 2023
Farming it out; short circuited; California dreamin’; and other highlights of recent tax cases. Marshall, Texas: Tax preparer Boyd Lynn Butcher, 51, has been sentenced to three years in prison for a federal income tax violation. Between 2015 and 2017, he operated a tax prep company under the name Boyd’s
The Digital Business Networks Alliance, a nonprofit backed by the Federal Reserve that serves as the legal entity overseeing the US open Exchange Framework, announced the first successful electronic invoice transmission over the U.S. network. While the European Union has been working on developing e-invoice infrastructure for at least a
More than prep; homebuyer credit needs work; tax shots across the Hudson; and other highlights from our favorite tax bloggers. Whine of the times Home games Tax Vox (https://www.taxpolicycenter.org/taxvox): A tax credit for first-time homebuyers could be an important step towards restructuring how the U.S. subsidizes home ownership. How the