Accounting
IRS beefed up ID theft filters for businesses, but still has work to do
The service is better at detecting identity theft in business tax returns, according to a new report, but it’s still letting many potentially fraudulent claims get through. Original Article Posted at : https://www.accountingtoday.com/news/irs-beefed-up-identity-theft-filters-for-businesses-but-still-has-work-to-do
Read MoreFour Decades After Proposition 13’s Tax Revolt, Will California (Split) Roll It Back with Proposition 15?
On the California ballot this year is an initiative that could partially unravel what is possibly one of the most consequential ballot initiatives.
Read MoreA Framework for the Future: Reforming the UK Tax System
Note: Below is a brief excerpt from our new publication with the Centre for Policy Studies, A Framework for the Future: Reforming the UK Tax System, which is a comprehensive study of Britain’s tax system that identifies key areas for improvement in UK tax policy and provides recommendations that would support long-term growth without negatively impacting government revenues. To…
Read MoreIntroducing Access Denied: Systemic racism in financial services
This five-part series is a comprehensive effort to explain the racial discrimination Black Americans face in our financial system. Original Article Posted at : https://www.accountingtoday.com/podcast/access-denied-systemic-racism-in-financial-services
Read MoreGrant Thornton wins appeal in fraud and negligence lawsuit
Grant Thornton has prevailed in an appeal by a former tax client who had sued after the firm failed to advise him of a tax strategy that potentially could have saved him over a million dollars and then allegedly tried to cover up the error. Original Article Posted at : https://www.accountingtoday.com/news/grant-thornton-wins-appeal-in-fraud-and-negligence-lawsuit
Read MoreIRS plans to resume sending balance due notices despite coronavirus pandemic
The Internal Revenue Service said Friday it would restart issuing its 500 series of balance due notices to taxpayers later this month after they were paused on May 9 due to the COVID-19 pandemic. Original Article Posted at : https://www.accountingtoday.com/news/irs-plans-to-resume-sending-balance-due-notices-despite-coronavirus-pandemic
Read MoreLeaning in to community to grow and prosper
Accounting firm leaders need to raise their heads from their everyday work to learn from each other. Original Article Posted at : https://www.accountingtoday.com/opinion/leaning-in-to-community-to-grow-and-prosper
Read MoreLawmakers question IRS readiness for next tax season amid backlogs from coronavirus
The leaders of Congress’s main tax-writing committee are wondering if the Internal Revenue Service will be ready to handle next tax season as it’s still processing millions of pieces of correspondence that went unopened for months during the COVID-19 pandemic. Original Article Posted at : https://www.accountingtoday.com/news/lawmakers-question-irs-readiness-for-next-tax-season-amid-backlogs-from-coronavirus
Read MoreIRS backtracks on revoking charities’ tax-exempt status
The Internal Revenue Service is reversing course on the automatic revocation notices that it sent to more than 30,000 tax-exempt organizations. Original Article Posted at : https://www.accountingtoday.com/news/irs-backtracks-on-revoking-charities-tax-exempt-status
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