Tax Fraud Blotter:  Pandemic pandemonium
Don't bet on it; COVID come-uppance; mine the gap; and other highlights of recent tax cases.

IRS gives guidance on energy tax credits, prohibited foreign entities
The IRS and Treasury plan to propose regulations restricting energy-related tax credits when "prohibited foreign entities" provide material assistance.

Xero sees 'emotional tax' on small business from financial stress
Small business owners are losing the equivalent of 33 working days a year due to financial stress, according to a report from Xero.

ACFE, Grant Thornton team on Anti-Fraud Blueprint
The Association of Certified Fraud Examiners has partnered with Grant Thornton to help organizations uncover fraudulent activity and avoid financial losses.

M&A roundup: Deals from New Mexico to Maryland
Richey May acquires Wagner Kaplan; Bowers adds Sciarabba Walker; Capstone adds Peltier, Gustafson & Miller; Aldrich Solutions acquires Summit Security Group; Province adds StoneTurn; and Ascend platform expands in Wyoming.

Millionaire tax tests a state's 93-year aversion to income levy
After nearly a century of trying, Washington state Democrats could finally pass an income tax — a move that would hit 30,000 or so top earners.

Depreciation, recapture and the illusion of tax savings
In practice, depreciation does not eliminate tax cost over time. It merely redistributes it.

ICON shares plunge after launching accounting probe
The health care services contractor said it may have overstated some of its past revenue and pulled its guidance for the year.

Frazier & Deeter makes plans for acquisitions
The Top 50 Firm based in Atlanta is absorbing three acquisitions it made last year while planning on future dealmaking.

AI Native Accounting Foundation launches to cut AI hype
The independent nonprofit is devoted to helping professionals move past hype and into concrete practical implementations of artificial intelligence technology.