Withum

JULY 22, 2025

or its possessions before January 1, 2031. Placed in service before January 1, 2031 5. Placed in service before January 1, 2031 6. Only production-related areas qualify (offices, breakrooms, etc., are excluded). Construction must begin after January 19, 2025, and before January 1, 2029.

Manufacturing

Withum

JULY 23, 2025

The deduction applies to property that began construction after January 19, 2025, and will be placed in service before January 31, 2031. QPP is defined as “newly constructed nonresidential real property that is used for manufacturing, production, or refining tangible personal property”.

Construction

CPA Practice

JUNE 26, 2025

By 2031, more than 12.5 million jobs will require at least some form of college education, with roles like accountants, general and operations managers, registered nurses, and software developers among the largest openings.

Education

CPA Practice

AUGUST 7, 2025

This provision applies to qualifying domestic property used in manufacturing, production, or refining, that is both constructed and placed in service between January 19, 2025, and January 1, 2031.

Technology

Going Concern

JANUARY 9, 2023

Bureau of Labor Statistics projects that job opportunities for accountants and auditors will increase by 6% from 2021 to 2031, which is as fast as other occupations. The post Monday Morning Accounting News Brief: EY Wants to Buy; Losers Dump NFTs For Tax Purposes; CPA Demand in 2031 | 1.9.23 appeared first on Going Concern.

CPA

Accounting Today

OCTOBER 29, 2024

The number of taxpayers filing Forms 1040 and 1040-SR are projected to increase by about 10,000,000 over the next eight years.

income tax

TaxConnex

JULY 12, 2022

Taxable purchases and leases of equipment must be at least $15 million for any calendar year, with additional conditions effective Jan. The bill also extends the sunset date of the sales tax exemption for the purchase of high-technology data center equipment to Dec.

Sales

PYMNTS

OCTOBER 25, 2019

Mastercard -owned Vocalink has contracted with LINK through 2031 to continue offering ATM switching and settlement services to roughly 60,000 ATMs in the U.K., We are delighted that LINK has extended our partnership to operate its ATM network until 2031. “We Mastercard announced on Friday (Oct.

B2B

PYMNTS

OCTOBER 25, 2019

Mastercard -owned Vocalink has contracted with LINK through 2031 to continue offering ATM switching and settlement services to roughly 60,000 ATMs in the U.K., We are delighted that LINK has extended our partnership to operate its ATM network until 2031. “We Mastercard announced on Friday (Oct.

B2B

PYMNTS

JANUARY 15, 2021

7 and are due in 2031, Bloomberg said. Chaves also said the company will earmark a percentage of the proceeds to accelerate financial inclusion in the region. MercadoLibre’s bonds started trading on Jan. The company's total revenue increased by 59 percent in 2019 to reach $2.30

Sales

Withum

MAY 7, 2024

The account must still be depleted by the end of the tenth year – December 31, 2031. Since inheriting the IRA, the taxpayer has taken no distributions as none have been required due to IRS relief.

accountant

Withum

JUNE 8, 2022

These new excise taxes are set to expire 8½ years after they kick in ( i.e., on December 31, 2031), and they are expected to generate about $14 billion of revenue. This means the tax rates will be higher and apply to more substances than they did in the past.

Tax

CPA Practice

OCTOBER 10, 2023

While job openings for accountants and auditors are projected to grow by 6% from 2021 to 2031, fewer accounting majors are graduating, and the number of individuals sitting for the CPA exam has declined. However, today, it struggles to replace those who leave the profession.

Technology

CPA Practice

APRIL 21, 2023

Bureau of Labor Statistics predicts that the need for financial advisors will grow 15% between now and 2031. According to the American Institute of CPAs, the demand for financial planning services is at an all-time high. In fact, the U.S. The demand for financial planning is clearly there.

accountant

ThomsonReuters

AUGUST 9, 2022

What does the excise tax apply to under the new law? Under the new law, the excise tax applies to the use, sale, or import of 42 taxable “chemicals” and 151 “hazardous substances.”

Tax

CPA Practice

AUGUST 16, 2023

The IRS’s strategic operating plan for 2023 through 2031 lays out the agency’s intention to ramp up enforcement action related to digital assets, according to Green Tree, PA-based accounting firm H2R CPA. And that’s just the beginning. The IRS is looking for unreported assets,” said Lucas Rihely, a tax partner at H2R CPA.

cpas

Menzies

MARCH 6, 2024

The sunset dates will be extended to: 30 September 2031 for special tax sites in respect of English Freeports 30 September 2034 for special tax sites in respect of Scottish Green Freeports and Welsh Freeports Air Passenger Duty will be increased for non-economy passengers.

Transportation

CPA Practice

JUNE 2, 2023

According to the Bureau of Labor Statistics , employment of accountants is expected to grow steadily through 2031. We want all qualified, talented, and diverse individuals to have the opportunity to take the exam for this distinguished designation.”

CPA

Withum

JULY 26, 2023

billion in 2031. Without any expansion, the TCJA child tax credit in 2031 was estimated by the CBO to cost $43 billion in 2031, or almost five times less than the expanded child tax credit.

Tax

CPA Practice

MAY 2, 2023

Projections indicate that demand for accountants and auditors will increase by 13% between 2021 and 2031, with an estimated 136,400 job openings between 2021 and 2023. accounting profession is facing a severe shortage of certified accountants.

cpas

ThomsonReuters

MARCH 10, 2022

However, if the House and Senate versions of BBB are any indication of how legislators feel about this credit, there is a very good chance that it will be renewed in the future; both versions increased the credit percentage and extended it through 2031. Nonbusiness energy property credit for energy-efficient improvements.

Tax

PYMNTS

NOVEMBER 8, 2017

The GSA SmartPay 3 program runs through 2031, the companies said. “Through our relationship with Citi, we’re looking forward to ensuring these agencies continue to have access to innovative card solutions that help them manage the daily operations of their fleets for years to come.”.

Government

Going Concern

JUNE 19, 2024

Reilly commented on our earlier article, “It is a ramp up going out to 2031. To be fair, the Inflation Reduction Act-sponsored hiring plan is on a 10-year timeline. As Forbes columnist and friend of GC Peter J. So some of them are not in high school yet.”

Government

Withum

AUGUST 11, 2022

The newly reinstated excise tax is set to expire on December 31, 2031, and is estimated to generate approximately $14.4 billion of revenue. Congress’s intent is to impose the excise tax at the beginning of the commercial chain of production, distribution, consumption, and disposal of hazardous substances.

Tax

Going Concern

APRIL 19, 2024

The majority of the contract work will occur in Arlington, Virginia, through April 2031, the Department of Defense said Thursday. million other transaction production agreement with the U.S. federal subsidiary.

accounting firms

ThomsonReuters

OCTOBER 7, 2022

These appropriations are to remain available through the end of 2031. The Congressional Budget Office (CBO) estimates that the additional enforcement measures funded by this bill would generate $204 billion in revenues through 2031, although this estimate is highly uncertain. taxpayer services ($3,181,500,000); 2.

audit

CPA Practice

AUGUST 8, 2024

For example, if the decedent died in 2021, a beneficiary must start taking RMDs in 2025 and wrap things up by 2031. Under the new final regulations, you count the ten-year period as usual, but you don’t have to make up for the missed years.

Tax

Withum

AUGUST 24, 2022

On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 allocating approximately $80 billion, in addition to its regular appropriations, to the IRS through September 30, 2031. This includes approximately $45.6 billion for enforcement, $25.3 billion for operations support, $4.8 billion for taxpayer services.

audit

SkagitCountyTaxServices

APRIL 4, 2024

percent by 2031. And the number of older employees in the workforce is growing too. The workforce participation rate was 25.8 percent in 2021 for workers aged 65-74, and that number is expected to grow to 30.7 For 75+ workers, they’re expected to comprise 11.1 percent of the workforce, up almost 3 percent from 2021.

tax return

ThomsonReuters

JANUARY 9, 2024

” Per the IRS’s Strategic Operating Plan for fiscal year (FY) 2023 through 2031, expanded enforcement is on the radar for large partnerships and large corporations, with additional focus on the employment tax returns these and other entities file. “Tax is really just the story of people’s lives,” Creech said.

audit

ThomsonReuters

AUGUST 16, 2023

118-5) clawed back some of the IRS’s funding during federal government debt ceiling negotiations, the Service has continued with the plans in its Strategic Operating Plan for 2023 through 2031. Although the Fiscal Responsibility Act of 2023 (P.L. Adding more electronic filing.

tax return

CPA Practice

MAY 3, 2024

The Treasury report states that if the Inflation Reduction Act funding is renewed after it runs out at the end of fiscal year 2031, estimated revenues could be as much as $851 billion. However, Treasury warned that if $20 billion is cut from the IRS’s funding allotment, it would reduce revenues by over $100 billion.

audit

CPA Practice

FEBRUARY 6, 2024

In fact, the report states that if the Inflation Reduction Act funding is renewed after it runs out at the end of fiscal year 2031, estimated revenues could be as much as $851 billion. However, Treasury warned that if $20 billion is cut from the IRS’s funding allotment, it would reduce revenues by over $100 billion.

audit

DMCL

APRIL 11, 2022

for eligible transportation storage and use equipment with lower tax credit rates applicable from 2031 to 2040. The tax credit rates are 60% for eligible capture equipment used in a direct air capture project, 50% for all other eligible capture equipment and 37.5%

Non-Profits

CPA Practice

MARCH 15, 2024

in 2023 to 20% by 2031. We are better off with less market interference, getting inflation and interest rates down and facilitating more housing supply. David Ely, San Diego State University NO: The president’s proposed budget would increase tax receipts, as a share of GDP, from 16.5% Federal spending as a share of GDP would also increase.

business tax

ThomsonReuters

JUNE 28, 2023

117-69)  Stragegic Operating Plan for the fiscal year 2023 through 2031 includes notable funding for enforcement. Importance of audits. The IRS’s Inflation Reduction Act (P.L. When the plan was announced in April of this year, a former senior litigation counsel at the U.S.

Legal

Withum

JULY 11, 2025

He focused on whether a corporate redemption obligation reduces the value of a decedent’s shares for estate tax purposes under Internal Revenue Code §2031 and concluded that it did not. The Supreme Court’s Reasoning Justice Thomas framed the issue narrowly in a unanimous opinion.

Tax