The Internal Revenue Service wants to hire more accountants, lawyers and other professionals to focus on high-income taxpayers and large corporations that are not paying all their taxes. In a statement Friday accompanying its annual data book, the IRS clarified its priorities for how it will use the extra $80
A tiny button in the middle of the donation webpage for Back Bay Baptist Church encourages patrons to make tax-deductible contributions in cryptocurrency. Hardly anyone has used the button in more than a year. There are good reasons why the button has been largely ignored since late 2021 when the
The CIO’s leadership role continues to elevate in high-performing firms. Many CIOs now have a dual role of chief digital and innovation officer, while some are expanding into the role of COO. In other words, the “technology monkey” is on the entire C-suite. Where can you leverage new opportunities? The
Ernst & Young’s top leaders called off a planned breakup of the firm’s consulting and audit practices after the U.S. affiliate decided not to take part, disrupting a nearly year-long struggle to build consensus for the historic shakeup of the Big Four accounting firm. Leaders told partners Tuesday that they
A Volkswagen AG GTE Golf hybrid automobile at a charging stationLuke MacGregor/Bloomberg Volkswagen AG believes that electric-vehicle incentives put in place by President Joe Biden’s Inflation Reduction Act will help the company more than double its share of the U.S. market. The German carmaker plans to sell 25 EV models in the
This year’s IRS Dirty Dozen offers scams both familiar and new. ID theft is a frequent motivation. Crooked tech and equally crooked tax preparers make what seem to be their unfailing appearances again this year, backed up by a chorus of relative newcomers such as social media, pandemic-relief hucksters and
Tax leaders at companies around the world are predicting the number of tax audits will increase by more than a third over the next two years. A survey released last week by Ernst & Young found that organizations are preparing for a new era of tax risks even as they’re
New York Republicans, whose congressional ranks swelled in the last election, are reviving plans to expand the state and local tax break, picking up a piece of unfinished business from Democrats that has been resisted by most in their own party. The lawmakers — with the GOP in control of
The American Institute of CPAs sent a list of recommendations to the Treasury Department and the Internal Revenue Service asking them to clarify and expand some of their guidance on taxpayer assistance procedures and when S corporations don’t need to ask for private letter rulings to keep their status. The
Cyber-defenses; Tax Gap inaccuracy; a new retirement age; and other highlights from our favorite tax bloggers. Bozo time Taxable Talk (http://www.taxabletalk.com/): This blog’s latest annual rundown of Bozo Tax Tips kicks off with a repeat for the 10th year in a row, one that bears repeating as ID theft keep