The accounting profession has faced many changes in the last several years that all point to a need for strong leaders. Baby boomers are retiring in record numbers and firms are navigating business model, talent and technology disruptions. A common question we hear is, “Are leaders born or made?” Can
Businesses are likely to see more sales tax audits in 2024 as a result of changes happening across the states, according to a new report. The report, released Monday by tax compliance technology provider Avalara, found that new technology developments in areas like artificial intelligence are forcing legislators to re-evaluate
1099s every quarter; latest tax lawmaking; a crypto outlook for 2024; and other highlights from our favorite tax bloggers. Interesting questions Where there’s a Means Incoming Surgent Income Tax School (http://www.theincometaxschool.com/blog/): You know in broad terms what you have to do to get ready for the season — streamline client
Left to right: Michael Sabol, Stephen Giamalis and James Mahoney of MahoneySabolCourtesy of MahoneySabol MahoneySabol & Company LLP, a regional firm based in Glastonbury, Connecticut, has merged with Giamalis and Company, also headquartered in Glastonbury, effective Jan. 15. MahoneySabol was founded in 1990 and has over 60 accounting professionals. Financial
The Internal Revenue Service and the Treasury Department released guidance Friday on tax incentives for installing electric vehicle charging stations and other alternative fuel refueling stations under the Inflation Reduction Act and where they can be located. Notice 2024-20 provides guidance on satisfying the geographical requirements of the Section 30C
The Internal Revenue Service and the Treasury Department released guidance Friday on tax incentives for installing electric vehicle charging stations and other alternative fuel refueling stations under the Inflation Reduction Act and where they can be located. The information can help households, businesses and other organizations considering such investments find
The American Institute of CPAs is asking the Treasury Department and the Internal Revenue Service to modify their guidance on catch-up contributions in the wake of the SECURE 2.0 Act of 2022 requirement that certain catch-up contributions be made as Roth IRA deferrals. Last August, the Treasury Department and the
The Internal Revenue Service said Thursday that a limited number of tax-exempt organizations won’t be able to electronically file their income tax returns until the middle of March due to technology upgrades. The affected forms are Form 990-T, Exempt Organization Business Income Tax Return, and Form 1120-POL, U.S. Income Tax
Tax prep and technology giant Intuit has filed a lawsuit against tax prep and technology giant H&R Block, saying the company made false and misleading claims about its pricing structure in its marketing materials. The lawsuit concerns three specific matters that Intuit said H&R Block misrepresented on its web page:
Trivium Point Advisory, a financial advisory firm based in Westport, Connecticut, has added Lyons & Lyons CPAs, a firm in Macclenny, Florida, and Paradigm Financial Partners, a registered investment advisory firm in Westport. Lyons & Lyons offers tax planning, accounting and business consulting services to complement the investment advisory and