President Donald Trump is tapping his presidential authority to make tax changes that Congress is refusing to do, but his limited power means he could end up over-promising and under-delivering on his pledge to slash IRS bills. Original Article Posted at : https://www.accountingtoday.com/articles/trump-pledges-big-tax-cuts-that-may-do-nothing-for-the-economy

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In May, the Bureau of Economic Analysis (BEA) released its annual data showing the differences in purchasing power across American metropolitan and non-metropolitan areas in 2018. This data compares how much $100 can buy in different regions and metropolitan areas across the country, which can have a significant effect on the relative impact of different…

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Making sure you’re secure working from home, spying on employees, and eight other recent developments in technology and how they’ll impact your clients and your firm. Original Article Posted at : https://www.accountingtoday.com/list/testing-remote-security-and-other-tech-stories-you-may-have-missed

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Key Findings The fiscal responses to the COVID-19 pandemic will require policymakers to consider what revenue resources should be used to fill budget gaps. Tax policy experts have proposed wealth taxes, (global) corporate minimum taxes, excess profits taxes, and digital taxes as opportunities for governments to raise new revenues. Instead of designing novel taxes, however,…

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Reopening the IRS; wording a referendum; the season that won’t end; and other highlights from our favorite tax bloggers. Original Article Posted at : https://www.accountingtoday.com/opinion/in-the-blogs-still-going-viral

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If you’ve ever considered transitioning to a virtual model, now is a golden opportunity – but it should be done right. Original Article Posted at : https://www.accountingtoday.com/opinion/4-steps-to-becoming-a-virtual-firm

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The firm is awaiting a ruling in a case involving a manufacturing company owner who sued the firm for fraud, negligence and other claims after the firm failed to advise him of a tax strategy that potentially could have saved him up over a million dollars and then allegedly tried to cover up the error.…

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Post-implementation reviews enable FASB to identify and deal with any areas for improvement stemming from either adoption or implementation of a standard. Original Article Posted at : https://www.accountingtoday.com/news/fasb-opens-portal-for-post-implementation-reviews-of-standards

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