The Internal Revenue Service is seeing a surge of tax scams this summer hitting taxpayers via email and text messages touting tax refunds and quick fixes to their tax problems. Many of the email scams make promises about a non-existent third round of Economic Impact Payments. The IRS said Friday
House Republicans on the tax-writing Ways and Means Committee have introduced legislation aimed at curbing an international tax agreement backed by the Biden administration from taking hold. Rep. Ron Estes, R-Kansas, joined by Ways and Means Committee chairman Jason Smith, R-Missouri, and other colleagues, introduced the Unfair Tax Prevention Act
This summer, KPMG launched the inaugural KPMG U.S. Empower High School Experience, a three-week paid internship focused on introducing high school students to accounting careers. According to Jennifer Flynn Dear, KPMG managing director of community impact and alumni strategies, this initiative will give interns access to a curriculum based on
Canada still plans to introduce a digital services tax in 2024 despite U.S. opposition, Finance Minister Chrystia Freeland said. Freeland, speaking by phone from the Group of 20 finance ministers’ meeting in India, said Canada had already made a “significant concession” in 2020 by agreeing to delay its plan for
A Dutch tax advisor who had a client list of top DJs and fashion industry figures was charged with scheming to conceal more than $100 million from the Internal Revenue Service. Frank Butselaar was arrested earlier in Italy on a request from the U.S. and taken back into custody this
Scaling any business can be challenging. In fact, only 22% of companies launched within the last decade have managed to successfully scale their operations. For service-based companies like accounting firms, scaling is even more difficult. You can’t just ramp up production and negotiate lower material costs like you can with
The financial services industry has been slower than other sectors to adopt cloud computing. Many financial companies still rely on on-premises IT, legacy mainframes and monolithic applications. Migrating and refactoring these resources can take considerable time and effort — enough to keep IT leaders from making the switch. However, things
The Senate’s bipartisan duo, Cynthia Lummis and Kirsten Gillibrand, unveiled their latest effort to regulate the U.S. crypto industry, placing greater emphasis on consumer protection following a string of high-profile company failures last year. Lummis, a Republican from Wyoming, and Gillibrand, a Democrat from New York, first introduced their bill
The U.S. Tax Court has upgraded its case management system to make it more convenient for tax attorneys to electronically file documents simultaneously in consolidated groups of cases. The Tax Court posted a notice on its home page about the change Wednesday but noted that entries of appearance for petitioner
Madisyn Deller Brown Schultz Sheridan & Fritz, Camp Hill, has hired four new staff accountants: Kyle Bennett in Frederick, Maryland; Madisyn Deller and Erin Morrison in Lancaster, Pennsylvania; and Matt Hood in Camp Hill. Herbein + Co. Inc., Reading, announced a new go-to-market strategy that will unify all its businesses