Withum

DECEMBER 4, 2024

The corporate tax rate is currently a flat 21% rate. There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. Please work with your tax advisor for future planning.

Tax 105

Tax income tax Construction Non-Profits 105

Accounting Today

JUNE 12, 2025

EDT 6 Min Read Facebook Twitter LinkedIn Email By any other name; poor Service; a saga continues; and other highlights of recent tax cases. Rockford, Illinois: Tax preparer Gretchen Alvarez, 49, has pleaded guilty to preparing and filing false income tax returns. The tax loss totaled $356,881. All rights reserved.

Tax 85

Tax tax preparation audit Technology 85

Withum

JULY 4, 2025

One Big Beautiful Bill Tax Provisions The One Big Beautiful Bill includes the following significant federal income tax provisions. This would provide that an amended return be filed for 2022, and 2023. If a 2024 tax return has already been filed, then an amendment would be required.

income tax 119

income tax Tax Kentucky Agriculture 119

Going Concern

NOVEMBER 8, 2024

PwC accused of interfering in Australian tax leaks probe [ Financial Times ] PwC has been accused of interfering in Australia’s political and regulatory affairs after documents revealed the Big Four accounting group warned its local firm against co-operating with investigations into a damaging tax leaks scandal without permission.

Florida 98

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Going Concern

NOVEMBER 8, 2024

Anyway, the AICPA numbers: Of the more than 1,100 firms that participated in the AICPA’s 2023 National Management of an Accounting Practice (MAP) survey, about 30% said they outsourced domestically and 25% said they outsourced to offshore workers. Meanwhile, the average for a tax associate in Atlanta is $61,866 a year.

tax return 110

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Accounting Today

JUNE 16, 2025

It found at least one deficiency in 17 (59%) of the 29 examination engagements it reviewed, a decrease of two from 2023. The PCAOB reviewed 64 engagements and found at least one deficiency in 27 (42%), consistent with the 2023 results. All rights reserved.

audit 59

audit Technology tax preparation corporation tax 59

Summit CPA

OCTOBER 10, 2024

IRS criminal investigations during the 2023 tax filing year identified potentially $37.1 billion in tax fraud and the conviction rate was 88.4%. Tax fraud is the intentional act of misconduct on the part of a taxpayer that is an intentional and deceitful avoidance of a tax they knowingly owe. What is Fraud?

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auditor audit tax return Tax 93

TaxConnex

NOVEMBER 21, 2024

Let’s look at the many many other glistening numbers … An established big day Looking at the trend of numbers, in 2023 Black Friday online sales grew 8% year-over-year to $70.9 billion was spent online in the month of November 2023, up 6% from the year before. retail sales during the 2023 holiday season grew 3.8% spending, up 7.8%

Sales 147

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Withum

FEBRUARY 3, 2025

Owning a car dealership can present a golden opportunity to reduce your tax liabilities. One such opportunity is cost segregation , allowing dealerships to speed up depreciation deductions, which can lead to significant tax savings early on. What Is Cost Segregation? How Does Cost Segregation Work? million, with phase-out limits of $2.8

tax planning 52

tax planning Tax Construction 52

CPA Practice

NOVEMBER 4, 2024

These job cuts also included employees in business services, audit, and tax. In June 2023, KPMG laid off about 5% of its U.S. staff —including advisory, tax, and back-office workers—after cutting some advisory personnel, or almost 2% of U.S. In June 2023, KPMG laid off about 5% of its U.S. staff , earlier in the year.

audit 64

audit accounting firms Tax accounted 64

Accounting Today

JUNE 19, 2025

EDT 5 Min Read Facebook Twitter LinkedIn Email Seeking shelter; please be Gentle; where the heart is; and other highlights of recent tax cases. Nixa, Missouri: Tax preparer Tina Louise Yager has pleaded guilty to making false and fictitious claims against the U.S. million in taxes on income he earned from his business.

Tax 69

Tax tax preparation Technology Real Estate 69

CPA Practice

OCTOBER 22, 2024

Grant Thornton, a provider of end-to-end audit, assurance, tax and advisory services, has appointed Greg Davis to lead the firm’s Workday practice. Grant Thornton has also enhanced its Workday leadership team with the addition of Andrew (Drew) Houts, who joins the firm with nearly a decade of Workday ecosystem leadership experience.

accounting and finance 119

accounting and finance Healthcare Manufacturing payroll 119

CPA Practice

NOVEMBER 7, 2024

trillion in tax revenue, collected more than $98 billion in enforcement revenue and distributed $553 billion in federal tax refunds and other outlays. The IRS on Nov. 7 released financial information and highlighted selected accomplishments and challenges in its fiscal year 2024 Financial Report.

accounting principles 115

accounting principles financial statements Government Tax 115

CPA Practice

JUNE 18, 2025

As updates to the Form 8971 instructions are considered, we suggest that Treasury and IRS include our recommendations to enhance taxpayer and tax practitioner clarity and compliance,” says Eileen Sherr, AICPA Director of Tax Policy and Advocacy. Undergraduate accounting enrollment increased 12% in fall 2024 compared to fall 2023.

Technology 88

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CTP

APRIL 21, 2025

NIL collectives began to spring up after that pivotal court case in 2021, and by 2023 most of the Power Four schools (the most prominent NCAA Division I football conferences) had NIL collectives. Where does the tax planning opportunity come in? The legal requirements for each are very different, as are their tax planning needs.

tax planning 52

tax planning Tax Non-Profits Sports 52

CPA Practice

DECEMBER 9, 2024

For property placed in service beginning in 2023, a taxpayer may take a credit equal to 30% of the total amount paid for certain energy efficient products or for a home energy audit. The credit is limited to certain amounts, per taxpayer and per tax year.

Manufacturing 97

Manufacturing tax return audit Tax 97

Menzies

DECEMBER 19, 2024

These come in from 1 April 2023 and run until 31 March 2026 and the 50% allowance is particularly useful where a company does not have sufficient AIA. Depending on the circumstances this may defer the tax relief available into the next accounting period. 30,000) can be claimed each year until the asset is fully written down to nil.

Tax 52

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CPA Practice

OCTOBER 29, 2024

A new pass-through field operations unit announced in fall 2023 has officially started work in the IRS’s Large Business and International (LB&I) division to more efficiently conduct audits of pass-through entities, the tax agency said on Oct. LB&I will be responsible for starting pass-through exams, regardless of entity size.

income tax 115

income tax audit tax return Real Estate 115

CPA Practice

NOVEMBER 19, 2024

Your CPA represents the ability to handle tasks related to auditing, tax, financial reporting, analytics, and internal controls. But having both certifications early in your career shows that you possess in-demand skills and a passion for the industry.

cma 122

cma CPA accounting and finance management accounting 122

Xero

FEBRUARY 10, 2025

UK: Streamlined tax workflow and compliance We’ve made Xero even better with some UK tax enhancements designed to save you time and reduce errors. Plus, you can now set up and manage practice government gateway IDs for Xero Tax in one location. Relax and enjoy seamless compliance with the new regulations.

Tax 96

Tax Sales Government accountant 96

ThomsonReuters

NOVEMBER 7, 2024

The report reveals that 82% of C-suite leaders believe ESG will play a crucial role in corporate performance, up from 72% in 2023. Despite geopolitical tensions , extreme weather events, and economic challenges , companies are increasingly prioritizing ESG as a core component of their business strategy.

Technology 97

Technology Manufacturing financial statements Tax 97

VJM Global

MARCH 10, 2025

258 OF 2025) The Assessee received consolidated Show Cause Notice under Section 74 of CGST Act for FY 2017-18 to 2023-24. Honble High Court held that Section 74 empowers the proper officer to determine factors leading to tax evasion and initiate proceedings within the specified time frame. Such power is to be exercised year by year.

Tax 52

Tax Legal accountant accounted 52

Withum

FEBRUARY 19, 2025

While EVs accounted for 10% of all US vehicle sales in 2023, hybrid vehicles began to gain ground in 2024, leading many OEMs to adjust their strategies. Another significant update is ASU 2023-08, which will be effective for year-end 12/31/2024. ASU 2023-08 requires cryptocurrency valuation at fair value each reporting period.

Retail 52

Retail Sales Technology Tax 52

CPA Practice

NOVEMBER 25, 2024

If you’re a business owner or a tax professional who represents one, the IRS wants to hear from you. 22 that it’s conducting virtual focus groups starting in December to gather feedback on the business tax account (BTA) online self-service tool. “We The agency said in an email on Nov. Eastern C Corporation DO December 5, 2024 3 p.m. –

tax accountant 111

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CPA Practice

OCTOBER 23, 2024

confidence, amid concerns about tax rises in the upcoming budget. Concerns about the continued weakness of the Chinese economy likely weighed on sentiment, with the survey being completed before the authorities announced a pivot to a more aggressive policy stimulus.

accountant 111

accountant accounted Account accounting and finance 111

CPA Practice

OCTOBER 24, 2024

For property placed in service beginning in 2023, a taxpayer may take a credit equal to 30% of the total amount paid for certain energy efficient products or for a home energy audit. The credit is limited to certain amounts, per taxpayer and per tax year.

Manufacturing 105

Manufacturing tax return audit Tax 105

Going Concern

JULY 11, 2025

Top Remote Tax and Accounting Candidates of the Week | July 10, 2025 Firm Watch CohnReznick acquires Piascik Certified Public Accountants [ Consulting.us ] The deal will expand CohnReznick’s presence in the Mid-Atlantic region, adding a Richmond office to its eight locations across Metro DC, Baltimore, Charlotte, and South Florida.

cpa firm 58

cpa firm cpas CPA auditor 58

Withum

MARCH 17, 2025

One popular solution is a surcharge applied on each order, similar to the approach businesses took with the freight surcharges popular from 2021-2023. Our team closely monitors and analyzes proposed tax legislation, providing individuals and businesses with timely insights to help navigate the evolving tax landscape.

financial statements 95

financial statements Manufacturing Non-Profits Tax 95

Dent Moses

JUNE 25, 2025

On March 20, 2025, the IRS issued new FAQ’s as guidance to businesses understand how to properly report Employee Retention Credit (ERC) refunds on their income tax returns. This is especially important for companies that received ERC refunds but never amended their earlier tax returns, or for those whose claims were later denied.

tax return 52

tax return income tax payroll Tax 52

Accounting Today

JUNE 13, 2025

In 2023, he founded Corallium Advisors, which helps businesses with auditing, regulatory compliance, risk management, and initial public offerings. By Chris Gaetano 2h ago Tax-related court cases Tax Fraud Blotter: Sick excuses By any other name; poor Service; a saga continues; and other highlights of recent tax cases.

accountant 102

accountant accounted Account Technology 102

Accounting Today

JUNE 23, 2025

In late 2023, GASB issued Statement 102 , "Certain Risk Disclosures," requiring state and local governments to provide financial statement users with information about specific risks when circumstances make a government vulnerable to a heightened possibility of loss or harm. "We All rights reserved.

accounting standards 101

accounting standards Government Technology audit 101

Accounting Today

JUNE 5, 2025

EDT 6 Min Read Facebook Twitter LinkedIn Email Bank job; the magic is gone; not a beautiful day in the Neighborhood; and other highlights of recent tax cases. CPA Timothy Trifilo has been sentenced to 20 months in prison for making a false statement on a mortgage loan application and for not filing an income tax return. .:

Tax 59

Tax tax preparation North Carolina tax return 59

ThomsonReuters

NOVEMBER 25, 2024

And in 2023, the state of California enacted SB 253 and SB 261 , measures that require large companies operating in the state to disclose greenhouse gas emissions and various other climate-related risk factors. Access report ESG Solutions Expert tools from Thomson Reuters to navigate environmental, social, and governance challenges.

Government 99

Government Non-Profits Legal California 99

Anders CPA

DECEMBER 24, 2024

Nexus is the connection between a business and a state that allows the state to impose tax on the business. Wayfair decision , which created a precedent for states imposing sales tax on out-of-state businesses selling in their state. Economic Nexus: Sales & Use Tax The South Dakota v.

South Dakota 52

South Dakota income tax Missouri Sales 52

ThomsonReuters

DECEMBER 17, 2024

According to the Thomson Reuters 2024 State of Corporate ESG report, 71% of C-suite and functional corporate leaders surveyed now view ESG investment as a source of competitive advantage, and 82% say they believe that ESGs role in corporate performance will continue to growup from 72% in 2023.

Government 52

Government Technology Tax corporation tax 52

Accounting Today

JUNE 13, 2025

Some 85% of firms now offer client advisory services, a big spike from 41% in 2023, indicating a strategic shift toward delivering forward-looking financial guidance that clients increasingly expect. All rights reserved. AI adoption is also reshaping the profession, with 80% of firms confident it will positively affect their practice.

Technology 69

Technology tax preparation corporation tax audit 69

CPA Practice

JULY 7, 2025

In parallel with his public service, he is in the early stages of co-founding an estate planning and estate tax firm alongside his wife, who is also a licensed CPA. Property and Fiscal Office on accounting programs, financial systems, and operational business processes.

cpas 85

cpas accounting and finance CPA Technology 85