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. All rights reserved.

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ThomsonReuters

JULY 21, 2025

These include the standard deduction, the elimination of personal exemptions, and the preservation of certain tax credits and deductions. When the federal government enacts a tax provision, states must decide whether (or how) to incorporate it.

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Accounting Today

JULY 24, 2025

Sole owner of Zion Outfitter, an outdoor retailer in Springdale, Utah, he handled the company finances and provided CPAs with information and records to prepare tax forms to submit to the IRS. He underreported his taxable personal income, which resulted in his evading at least $1.9 million in income tax. million in taxes.

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CPA Practice

JUNE 20, 2025

Parker pleaded guilty to a charge of fraud conspiracy on May 15, 2024. She pleaded guilty in March 2024 and was sentenced in May to one year in prison, two years of supervised release, and ordered to pay $1.3 million in COVID-19 relief loans in Pennsylvania. million in COVID-19 relief loans in Pennsylvania. million in restitution.

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Accounting Today

JUNE 19, 2025

Nixa, Missouri: Tax preparer Tina Louise Yager has pleaded guilty to making false and fictitious claims against the U.S. Yager used clients information to present false returns to the IRS from November 2023 through March of 2024, submitting returns in the name of her clients without their knowledge or approval. All rights reserved.

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Accounting Today

JUNE 26, 2025

1, 2024; and CPA Walter W. 20, 2024, and attorney Jason M. 10, 2024, and attorney Catherine E. 14, 2024, and CPA George O. 4, 2024; Enrolled Agent John A. Klein, in New City, New York, (effective July 22, 2024). All rights reserved. Fulton, Agoura Hills, indefinite from March 18, 2025; CPA Mark L.

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CPA Practice

JULY 1, 2025

According to a Gartner analysis, 33% of enterprise software applications will include agentic AI by 2028, up significantly from where it stood in 2024, at less than 1%.

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Withum

DECEMBER 17, 2024

It is important to note the TCJA sunsetting will not eliminate the 21% corporate tax rate. As an example, owners of S Corporations and Partnerships currently have the potential to pay taxes up to a 37% federal income tax rate. Withum has experienced advisors to guide you through this uncertainty.

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CPA Practice

JUNE 5, 2025

According to a Gartner analysis, 33% of enterprise software applications will include agentic AI by 2028, up significantly from where it stood in 2024, at less than 1%.

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Wellers Accounting

FEBRUARY 21, 2025

Tom Biggs explains the various end of tax year considerations, and strategies, that form effective tax planning to potentially reduce your bill.

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ThomsonReuters

JULY 21, 2025

Jump to ↓ How OBBBA is impacting federal tax policy Strategic implications in a shifting political landscape What tax professionals should do now to manage the OBBA impact For tax professionals, the newly signed One Big Beautiful Bill Act (OBBBA) of 2025 has significant impacts for client tax planning and compliance.

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CPA Practice

NOVEMBER 13, 2024

Here’s what a Trump presidency could mean for your taxes. Existing tax rules made permanent The TCJA lowered income tax rates for all individuals but more significantly for high-income earners. The top marginal tax rate was reduced to 37% from 39.6%. (In ©2024 Bankrate.com.

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CPA Practice

JUNE 26, 2025

Our partnership with Avalara has been instrumental in managing our indirect tax compliance amidst rapid growth and international expansion,” said Vivek Dadhania, Tax Manager at Therabody. The automation and support provided by Avalara have transformed our tax processes, allowing us to focus on our core business and future growth.”

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ThomsonReuters

JUNE 27, 2025

Key provisions include the permanent extension of select elements from the Tax Cuts and Jobs Act (TCJA), as well as the implementation of campaign promises from the Trump Administration, most notably, proposals to eliminate federal income tax on overtime pay and employee tips.

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Menzies

OCTOBER 30, 2024

The 2024 Autumn Budget introduces rising costs for tech employers through increased National Insurance and wage requirements, while offering targeted relief for smaller tech businesses and investing in digital infrastructure to support sector growth. Menzies LLP - A leading chartered accountancy firm. Nor has the Chancellor increased VAT.

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Accounting Today

JULY 15, 2025

The bill said that you had to have the asset placed in service by 2027 but also you had to start construction on that facility within one year of the enactment date," said Ian Boccaccio, principal and income tax practice leader at tax firm Ryan. "If The bonus depreciation went down to 80% in 2023 and in 2024 it went down to 60%.

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Menzies

APRIL 14, 2025

The autumn budget, delivered on 30 October 2024, proposed a number of significant inheritance tax changes which are set to come into force over the next couple of years. The effective tax rate on an individuals pension is made up by a combination of the funds being subjected to both inheritance tax and income tax.

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ThomsonReuters

DECEMBER 30, 2024

While many questions remain, now is the time to begin exploring some of the potential tax law changes and strategies for how tax and accounting professionals can stay up to date on changes as they unfold. For heads of households, it is $22,500 for tax year 2025, up $600 from tax year 2024. million in 2024.

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Withum

DECEMBER 4, 2024

Doing so may enable you to claim larger deductions, credits, and other tax breaks for 2024 that are phased out over varying levels of adjusted gross income (AGI). If you hold long-term, appreciated capital assets, and are in the 0% rate bracket, consider selling enough long-term assets to maximize the 0% rate in 2024.

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CPA Practice

JULY 24, 2025

11, 2024, in Las Vegas. Subscribe Tags:  casinos , gambling , Income Taxes , IRS , Legislation , obbba , slot reporting threshold , Taxes Recommended Taxes Articles View All Taxes Articles Firm Management July 24, 2025  Whitepaper: Elevate Your Firm’s Pricing Strategy. Visit reviewjournal.com.

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CPA Practice

JULY 14, 2025

According to court documents, Festus Adenisimi, of Mansfield, Texas, was the owner of FA Tax, a tax preparation business located in Grand Prairie, where he and other tax preparers prepared fraudulent tax returns for their clients, often causing the IRS to issue refunds to those clients.

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Withum

DECEMBER 17, 2024

Additionally, President Trump’s campaign promises included exempting Social Security benefits from income tax and allowing deductions for personal auto loan interest. 2024 Year-End Tax Planning Resources Nows the time to review your year-end tax planning options and strategies for the 2024 tax season.

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Accounting Today

JULY 15, 2025

The February deadline applies to: Any individual, business or tax-exempt organization that has a valid extension to file their 2024 return due to run out on Oct. 15, 2025; Quarterly estimated income tax payments normally due on Sept. 15, 2026; Quarterly payroll and excise tax returns normally due on July 31, Oct.

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CPA Practice

JULY 17, 2025

Subscribe Tags:  Legislation , Taxes , Trump tax cuts , Trump tax plan Recommended Taxes Articles View All Taxes Articles Taxes July 18, 2025  Will the Elimination of Federal Tax Credit Significantly Hurt the Solar Industry? million, beginning Dec.

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CPA Practice

JULY 23, 2025

Volunteers cleared debris, revitalized community spaces, and helped restore parts of the area still facing long-term effects from the 2024 storm. Team members in Asheville worked alongside local organizations to support ongoing recovery and cleanup efforts following Hurricane Helene.

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Menzies

MARCH 6, 2025

We explore potential tax reversals, digital investment commitments, and the impact of policy changes on start-ups, growth, and digital transformation initiatives. That said, the Government has not ruled out any new announcements, so we may still see new tax rules being implemented this year.

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CPA Practice

JULY 25, 2025

Key Middle Market Insights Optimism Rooted in Controllable Factors: Despite economic challenges, 72% of companies remain optimistic about their outlook over the next 12 months, down slightly from 76% in Q4 2024. Companies are focusing on factors within their control, like improved business efficiency (51%) and technology improvements (48%).

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CPA Practice

JULY 4, 2025

BNEF expects one in four new cars sold this year—some 22 million cars and trucks—to come with a plug, a 25% increase over 2024. Outside the U.S., however, EVs remain on a tear thanks to a drop in battery prices and a wave of low-price models rolling out of Chinese factories. Two-thirds of those sales will be in China.

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CPA Practice

JULY 9, 2025

The report is based on a new global study of 8,281 LHH Career Transition & Mobility candidates between January 2024 and March 2025, supplemented by proprietary analytics from over 200,000 candidates supported in 2024.

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CPA Practice

JULY 10, 2025

It is the third time in four years North Carolina has topped the list, rebounding from a close second-place finish in 2024. 1 Spot on CNBC’s Top States for Business List North Carolina bested Texas, Florida, Virginia and Ohio to finish No. 1 on CNBC’s latest annual ranking of best states for business. In 2025, North Carolina finished No.

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CPA Practice

JULY 18, 2025

Since 2021, “enhanced” premium tax credits have been larger and available to more people. In states using HealthCare.gov , enhanced tax credits made subsidized premiums about $624 less expensive per year in 2024. Smaller tax credits—and therefore more expensive premiums—go back into effect starting in 2026.

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CPA Practice

JUNE 20, 2025

The change is due to higher-than-expected spending on hospital and hospice care in 2024. of the gross domestic product in 2024 but is projected to grow to 6.7% After that point, the program will only be able to pay 89% of total scheduled benefits, a summary says. over the next five years, which could affect the premium rates.

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CPA Practice

JULY 17, 2025

Four in five shoppers (82%) were planning around July sales to shop specifically for items for the upcoming school year. Families with students in elementary through high school plan to spend an average of $858.07 College students and their families are planning to spend an average of $1,325.85, down from $1,364.75

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CPA Practice

SEPTEMBER 14, 2023

Bloomberg Tax & Accounting released its 2024 Projected U.S. Tax Rates, which indicates inflation adjusted amounts in the tax code will increase 5.4% See projected tax bracket tables below.] Act that affect tax planning for corporate taxpayers in certain industries.

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TaxConnex

NOVEMBER 2, 2023

October 15 th ended the last major income tax due dates in 2023. Most CPAs use the fourth quarter of the year for audit and tax planning for clients, strategic planning for the firm and of course, CPE. Both of these changes can directly impact your clients’ sales tax responsibilities.

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CPA Practice

DECEMBER 14, 2023

The Financial Accounting Standards Board ( FASB ) has issued an Accounting Standards Update (ASU) that addresses requests for improved income tax disclosures from investors, lenders, creditors, and other allocators of capital (collectively, “investors”) that use the financial statements to make capital allocation decisions.

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Cherry Bekaert

NOVEMBER 29, 2023

Prepare for the 2023 tax season with our comprehensive tax planning checklist for individuals. Expert advice on life changes, investments, IRAs, and estate planning. Do you receive income from a pass-through business? How will your income change in 2024? Do you make charitable contributions?

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