Additional guidance issued for advanced energy projects
The IRS and Treasury issued more guidance for applicants seeking section 48C credit allocations in the qualifying advanced energy project credit allocation program.
GAO report: IRS mediation alternatives are underused
The IRS’s alternative dispute resolution programs for mediating tax issues between taxpayers and the agency fell by two-thirds over the past decade, according to a new report.
Jobs report: Pay increased by 6.5% over last year
Private sector employment increased by 278,000 jobs in May and annual pay was up 6.5% year over year, according to the May ADP National Employment Report.
Wisconsin banks show resiliency in Q1 2023
First-quarter 2023 data from the Federal Deposit Insurance Corporation show that Wisconsin banks remained on solid footing even as two out-of-state institutions failed during the period.
FASAB committee proposes changes to guidance on leases
The Accounting and Auditing Policy Committee (AAPC) of the Federal Accounting Standards Advisory Board (FASAB) has proposed updates to a technical release on leases.
Marketing your firm’s advisory services
Accounting firms can leverage their digital marketing channels, establish themselves as thought leaders, host events and network to promote their advisory services.
Wisconsin unemployment rate hits record low
A new report from the Department of Workforce Development shows Wisconsin’s seasonally adjusted unemployment rate dropped to a record low of 2.4%.
IRS renews alert for ERC scams
As aggressive marketing continues, the IRS has renewed an alert for businesses to watch out for tell-tale signs of misleading claims involving the employee retention credit (ERC).
IRS flags 1M tax returns for potential identity fraud
As of March 2, the IRS flagged 1.1 million tax returns with $6.3 billion in refunds for potential identity fraud.
US economic growth hits 13-month high
U.S. economic activity rose in May to the highest pace in 13 months, showing persistent resilience to rising interest rates and high inflation.