The Internal Revenue Service needs to make improvements to protect the health and safety of employees working at an underground file storage site, where the perils include falling rocks and broken ladders. The so-called “C-site,” located in Independence, Missouri, has been the subject of complaints by IRS employees and their
The Internal Revenue Service plans to propose regulations on how to claim the energy efficient home improvement credit, including a requirement under the Inflation Reduction Act for a product identification number, and it’s asking for comments ahead of time on the PIN requirement. On Friday, the Treasury Department and the
RKL eSolutions, a provider of ERP software and IT consulting based in Lancaster, Pennsylvania, is acquiring Wisconsin-based Chortek LLP’s Sage practice, including Sage 100, Sage 50 and Sage BusinessWorks, effective Jan. 1, 2024. RKL eSolutions is the technology arm of RKL LLP, a Top 60 Firm with offices in Pennsylvania
In 2023, accounting firms in the United States navigated an unpredictable environment, marked by the explosion of generative AI tools, an increasing talent shortage and pressure to control costs amid stubborn inflation and rising interest rates. As 2024 approaches, accountants and tax professionals will face what we’re calling the year
Enjoy complimentary access to top ideas and insights — selected by our editors. Use yesterday to have a better tomorrow. Here are three questions you can respond to to use as a guide to make tomorrow better. 1. What clients do you dread getting a call from? There are two
This simple question above deserves a simple answer, which will hopefully lead to additional questions and dialogue. The simple answer is … only as fast as knowledge can be retrieved (accessed). Nick Sonnenberg, author of “Come Up for Air,” states that many organizations fail to realize that complexity scales exponentially
The Internal Revenue Service and the Treasury continue to release guidance and tools around the clean energy tax credits included in the Inflation Reduction Act and other legislation. Businesses, tax-exempt organizations or entities such as state, local and Indian tribal governments can now register for associated tax credits using the
Individuals and businesses in parts of Tennessee affected by severe storms and tornadoes that began earlier this month now have until next June to file various federal individual and business tax returns and make tax payments. The Internal Revenue Service is offering relief to any area designated a disaster area
The Public Company Accounting Oversight Board issued a staff report sharing the results of the inspections conducted by its “target team” in 2022. A group of PCAOB inspectors who conduct in-depth reviews across audit firms, the target team focuses on areas of emerging audit risk. For 2022, it had three
The IRS has granted about $1 billion in penalty relief to some 4.7 million individuals, businesses and tax-exempt organizations that were not sent automated collection reminder notices during the pandemic. Most getting the relief make less than $400,000 a year. During COVID-19, the IRS temporarily suspended mailing of automated reminders