IRS sent $447.8M in RRC payments to ineligible taxpayers The IRS issued Recovery Rebate Credits for the pandemic to nearly 301,000 ineligible taxpayers, many of whom were either immigrants or received extra payments.
AICPA wants guidance on Trump Accounts from IRS The Institute asked for guidance from the IRS and the Treasury on the Trump Accounts for newborns as well other provisions of the One Big Beautiful Bill Act.
Tax bills to watch for this year Lawmakers in Congress have their eyes on several pieces of tax-related legislation that may or may not get passed this year, though the upcoming November midterm election is bound to affect any possibility of the bills advancing.
Act now to battle data exfiltration For accounting firms, the evolution in cyberthreats is more than a wake-up call, it's a risk to client trust, compliance status, and long-term reputation.
IRS creates tax scam reporting web page The IRS introduced a new web page where taxpayers can confidentially report suspected tax fraud schemes, scams, evasion or other tax-related illegal activities.
Boomer's Blueprint: Mind the gap: Change, talent, and the CPA future This is the transformation gap, between an accounting firm's current business model and the strategic relevance it will need to remain competitive over the next several years.
Sorren expands in California Sorren, a rapidly growing firm based in Meridian, Idaho, acquired Connected Accounting in Los Angeles.
GASB proposes guidance for financial reporting improvements The Governmental Accounting Standards Board released a proposed Implementation Guide with questions and answers on the requirements related to subsidies.
UHY expands in Midwest The Top 50 Firm acquired Larson Tax Partners, expanding its presence in the Midwest and strengthening its tax practice.
IRS plans regs on foreign currency gains and losses Proposed regulations will affect the determination of taxable income or loss and foreign currency gain or loss with respect to a qualified business unit.
