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A strategic reset in federal financial auditing

Accounting Today

The federal government spends hundreds of millions of dollars each year on financial audits. The intent is to outline this in a forthcoming update to Circular A-136, which governs federal financial reporting. All rights reserved. This model emphasizes current-year activity and balances, aiming to improve relevance and timeliness.

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On the move: Nisivoccia wins President's Award for advocacy work

Accounting Today

All rights reserved. opens new office in Chattanooga; and more news from across the profession. The award recognizes Nisivoccias ongoing partnership and advocacy in support of individuals with intellectual and developmental disabilities. Jie Yang was elected to partner at Bowman & Co., TENNESSEE Blue & Co.,

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Limiting the Substance Over Form Doctrine

CTP

In these three related appellate cases, the IRS sought to recharacterize millions of dollars that had been paid as commissions into a domestic international sales corporation (DISC) and then shielded from income tax when the DISC contributed the funds to a Roth IRA. A DISC does not pay tax on commission income up to $10 million.

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Whole Paycheck Tracker: Accelerating Automation To Capture Consumer Spend

PYMNTS

Among other payment methods added across Amazon was a pilot that accepts government benefits tied to the Supplemental Nutrition Assistance Program (SNAP). The eCommerce company further announced it has expanded its grocery pickup to Whole Foods Market to Columbus, Ohio — bringing the total number of pickup markets to 30.

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Direct vs. indirect tax: the differences

ThomsonReuters

The differences between direct tax and indirect tax are important to understand. Direct tax is paid directly by the taxpayer to the government and cannot be shifted, like federal income tax. In contrast, indirect tax, such as business property taxes, can be passed on or shifted to others.

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Pre-Election Analysis: Tax Policy and the Upcoming House and Senate Elections

Cherry Bekaert

The balance of power in Congress will play a vital role in determining the direction of tax legislation, regardless of whether former President Donald Trump or Vice President Kamala Harris take office. For a comprehensive overview of each candidate’s tax policies and priorities, read our previous insights here. tax policy.

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