The Internal Revenue Service may randomly phone tax professionals for a survey between Nov. 27 and Jan 19, 2024. “This is not a scam. Please don’t hang up,” the agency said in an announcement about the survey. “Responses will help the IRS improve services to the tax pro community and
Think about the typical cryptocurrency investor. What comes to mind? Maybe someone young, tech-forward and college educated, with lots of disposable income. While this may have held true before, recent data indicates there is little separating today’s cryptocurrency investor from holders of any other asset. A study published by the
In today’s world, you simply can’t avoid discussing generative artificial intelligence. News stories and conversations about AI are abundant, and the accounting industry is no exception. At Baker Tilly, we’ve embraced AI to enhance efficiency, making it an invaluable tool to empower our professionals and accelerate their work. A “better”
Abip CPAs & Advisors, a Houston-based firm, merged in Matthews & Johnson CPAs LLC, a tax, accounting and advisory firm based in New Braunfels, Texas, effective Nov. 1, 2023, and with Brehm, Havel & Co., a San Antonio-based CPA firm, effective Jan. 1, 2024. The Matthews & Johnson deal will
The Treasury Department and the Internal Revenue Service issued proposed regulations to update the investment tax credit rules to encompass various forms of renewable energy. The proposed regulations, which were posted Friday, update rules that haven’t been changed since 1987. The proposal updates the kinds of energy properties eligible for
The Department of the Treasury and the IRS have issued proposed regulations of guidance under a new section of the law that disallows deductions for certain charitable conservation contributions by partnerships and other pass-through entities. The SECURE 2.0 Act of 2022 added new subsections to the part of the tax law that
The Internal Revenue Service has appointed Rajiv Uppal as its next chief information officer, to assist with the agency’s transformation work, beginning in early 2024. Uppal, who currently serves as the director of the Office of Information Technology and chief information officer for the Centers for Medicare and Medicaid Services,
A group of U.S. lawmakers is asking tax authorities to accelerate an investigation into rich Americans seeking lucrative tax breaks in Puerto Rico. Twelve Democratic members of the House of Representatives asked the Internal Revenue Service on Friday to expedite a congressional request for information about efforts to root out people allegedly
The Internal Revenue Service expects to receive 30 million more Form 1099-K information returns in 2024 under a new lower threshold that was delayed last year, according to a new report. The report, released Wednesday by the Government Accountability Office, said the IRS expects to receive about 44 million Form
Your Part-Time Controller, a Top 100 Firm based in Philadelphia, received a strategic growth investment from Pamlico Capital, a private equity firm based in Charlotte, North Carolina. It’s the latest deal involving a PE firm investing in accounting firms. Financial terms were not disclosed. Your Part-Time Controller ranked No. 75