Featured News
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Advising clients who use cryptocurrency
Business-owning clients who are using (or thinking about using) cryptocurrency will need a tax professional’s expertise to deal with crypto tax compliance and strategy.
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IRS extends VITA, TCE grants application deadline
The IRS extended its deadline to June 17 for accepting applications for the Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grant programs.
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Abusive CRATs, Maltese IRAs among IRS’ top tax scams
Abuse of charitable remainder annuity trusts (CRATs) and Maltese individual retirement arrangements (IRAs) are among the IRS’ annual “Dirty Dozen” list of tax scams for 2022.
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FASB to explore rules on accounting for ESG credits
The FASB will explore new rules regarding the accounting for environmental, social and governance (ESG)-linked features and regulatory credits.
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IRS collected $4T in 2021, new report shows
The IRS recently issued its Data Book detailing the agency’s activities in fiscal year 2020 and reporting more than $4.1 trillion collected in federal taxes.
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SEC issues proposed rule changes for ESG funds
The SEC has proposed amendments to rules and forms to promote consistent, comparable and reliable information concerning environmental, social and governance (ESG) factors.
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IRS revises 2021 EITC FAQ
The IRS recently revised its FAQ for the 2021 earned income tax credit (EITC) to educate taxpayers on how to properly claim the credit when filing their 2021 returns.
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Zoom enhances whiteboard feature for hybrid meetings
A new, advanced whiteboard product on Zoom allows users to create and convey business processes and ideas.
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IRS to pay 5% interest on delayed tax refunds
The IRS will pay 5% in guaranteed interest to individuals with delayed tax returns beginning in July, up a percentage point from the last interest hike in April.
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IRS mostly correct on recovery rebate credits, TIGTA says
The IRS correctly calculated taxpayers’ eligibility for a recovery rebate credit in the 2021 filing seasons most of the time, the Treasury Inspector General for Tax Administration (TIGTA) said.