Accounting
An “Interest”ing Tax Hike in the COVID-19 Relief Proposal
As the House Ways and Means Committee continues working on the latest round of fiscal relief amid the pandemic, one curious provision in the legislation is a tax hike on multinational companies. One section of the legislation would repeal a provision in current law that allows U.S. multinationals to choose to allocate their interest costs…
Read MoreIRS warns of e-file identity theft scam
The Internal Revenue Service is alerting tax professionals about a dangerous new phishing scam. Original Article Posted at : https://www.accountingtoday.com/news/irs-warns-of-e-file-identity-theft-scam
Read MoreGrandma wins $19M case against J.P. Morgan and 2 advisors (her grandsons)
Beverley Schottenstein accused the bank and the brokers of unauthorized trading of “multiple auto-callable structured notes and various other securities,” among other alleged misconduct. Original Article Posted at : https://www.accountingtoday.com/news/grandma-wins-19-million-case-against-j-p-morgan-and-2-advisors-her-grandsons
Read MoreTPC Finds the Ways & Means Pandemic Relief Plan Mostly Helps Low- and Moderate-Income Households, But Higher Income Families Benefit as Well
The major tax provisions of the pandemic relief bill proposed by House Ways & Means Committee Democrats on January 8 would reduce 2021 federal taxes…
Read MoreBiden will have to deal with tax revenue shortfall from COVID-19
Claims for the R&D tax credit may be coming under closer scrutiny from the IRS. Original Article Posted at : https://www.accountingtoday.com/opinion/biden-will-have-to-deal-with-tax-revenue-shortfall-from-covid-19
Read MoreEnsuring AI works for you: 3 steps to success
There are critical considerations to make to ensure you optimize AI implementation to enhance staff performance and deliver better service to your clients. Original Article Posted at : https://www.accountingtoday.com/opinion/ensuring-ai-works-for-your-firm-3-steps-to-success
Read MoreSenators propose to make Work Opportunity Tax Credit permanent
A bipartisan group of Senate lawmakers has introduced legislation to make the Work Opportunity Tax Credit a permanent part of the Tax Code. Original Article Posted at : https://www.accountingtoday.com/news/senators-propose-to-make-work-opportunity-tax-credit-permanent
Read MoreHouse Ways and Means Committee Takes First Steps Toward Additional Coronavirus Relief Legislation
The nine legislative measures released by the House Ways and Means Committee under the budget reconciliation instructions begins to put legislative text to Congress’ next round of pandemic relief. The nine measures comprise more than half of the $1.9 trillion in additional coronavirus-related relief put forth by congressional Democrats and President Biden. The Ways and…
Read MoreTaxes from immigration reform could help states with post-COVID recovery
Public debates over immigration reform often suffer from scarce and erroneous information about the tax contributions of undocumented immigrants, particularly at the state level. Original Article Posted at : https://www.accountingtoday.com/opinion/taxes-from-immigration-reform-could-help-states-with-post-covid-economic-recovery
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