Accounting Insight

MAY 1, 2025

Higher taxes for you and your clients Lets start with the facts straight from HM Treasury. These reforms are part of the governments effort to raise an additional 25 billion a year to support public services and reduce debt. This means they pay less tax and get to keep more of what they earn overall.

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payroll Gaming Tax Government 40

CTP

MARCH 10, 2025

Have you ever had a client bring you a tax strategy that sounded too good to be true? Even if a tax savings idea is setting off alarm bells for you, you may not be sure how to refute it when your client is the one bringing it up with enthusiasm. Tax evasion, on the other hand, relies on concealing information and deceit.

Tax 52

Tax Education Legal Gambling 52

CPA Practice

JULY 24, 2025

That change will affect the $1,200 threshold that currently triggers W-2G tax forms when players hit slot jackpots. The slot reporting threshold is governed by an IRS regulation, so the change will not go into effect until the agency updates its rules. Related article: Is An IRS Change In Slot Machine Jackpot Thresholds Really Coming?

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Technology income tax payroll Gambling 94

LSLCPAs

JANUARY 14, 2025

Nonprofits and government agencies can now tap into a game-changing financial incentive: the Clean Vehicle Credit. Thanks to Section 6417 of the Inflation Reduction Act of 2022, tax-exempt entities can benefit from a groundbreaking provision called the Direct Pay (or Elective Pay) option.

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Government Tax cpas Gaming 52

Going Concern

JANUARY 31, 2025

Moving forward, the New York team will continue to serve its business and tax clients. Programming note: Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! There is a strong case for selling the Bitcoin right away.

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Going Concern

FEBRUARY 7, 2025

AI Americans trust AI more than a CPA to do their taxes, according to new research [ Fortune ] Only 2 in 5 Americans are confident about their tax filing game, according to a new survey from Invoice Home. Nearly 43% of respondents say they would trust artificial intelligence for help more than tax professionals like CPAs.

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cpas auditor audit Florida 59

Shay CPA

JUNE 18, 2025

A key initiative driving this growth is the NYC Innovation Hot Spot program—a state-backed initiative that provides incubator services, tax benefits, and entrepreneurship training to early-stage companies in tech and biotech. Key to work with a tax advisor who understands how to complete the right tax forms to receive the right tax credits.

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Technology New York CPA income tax 52

TaxConnex

OCTOBER 7, 2021

There’s always something changing in the world of tax, especially sales tax. There are currently five states with no state-level sales tax. Alaska has long heard rumblings of a statewide sales tax. First came the state’s Remote Seller Sales Tax Commission of municipalities banding together to tax sales.

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TaxConnex

OCTOBER 8, 2020

What’s an IP address and how can it influence your company’s need to collect and remit sales tax to states? When your customers access your website and make purchases, the customer is often providing a billing and/or shipping address which can be used to determine where sales tax applies. Tech on the forefront. Texas and Maryland.

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Sales Texas Tax Nevada 147

CPA Practice

SEPTEMBER 25, 2023

What does your game plan for this fall include? It would be best if you took this time to address the top few issues and develop a plan to complete those by mid-December while accommodating tax planning, Client Accounting Services, and cleaning up any other open projects for the year. So, What Makes Practical Sense as a Fall Game Plan?

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Gaming Construction Technology tax planning 119

TaxConnex

OCTOBER 3, 2023

There’s always something changing in the world of tax, especially sales tax. billion in tax revenue on sales tax holidays that offer breaks on such goods as back-to-school or disaster-preparedness items. The other prevalent argument is that sales tax holidays are a way of giving tax relief. “The

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Sales Louisiana Tax Tennessee 147

CPA Practice

AUGUST 25, 2024

Yet some states still haven’t clearly defined how sales and use tax applies to digital goods and services. To help you better understand digital products sales tax, this blog will explain: How do you define digital products for sales tax? How do you figure out sales tax on digital products by state?

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West Virginia Rhode Island South Carolina Tax 130

Going Concern

MARCH 6, 2024

When concerns about our election were raised in November, consistent with our speak-up culture, those concerns were investigated objectively, our governance bodies responded and took prompt and appropriate action,” PwC US governance committee chair Ellen Walsh was quoted as saying. Well, sucks for him I guess.

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Gaming Government Tax 110

CPA Practice

AUGUST 11, 2023

IVIX , the first AI-powered platform designed to help governments address pervasive financial crimes and tax evasion at scale, has closed a $12.5M Every year, at least $20 trillion in global business activity goes unreported to tax authorities.

Technology 98

Technology Tax E-commerce Government 98

Withum

JULY 20, 2022

As far as the IRS is concerned, not all tax scams should be treated equally. Last month the Service announced which scams made the list comprising the IRS’s “Dirty Dozen” for tax season 2022, meriting extra scrutiny. Included on the list is a wide range of tax evasion tactics. High Income Non-filers.

Tax 125

Tax Non-Profits tax return Government 125

Going Concern

SEPTEMBER 30, 2022

Welcome to part two of our series on the IRS Section 179D tax deduction. We explained how the §179D tax deduction works and who qualifies for it in part one. You’ll need to work with a partner like Walker Reid to sort through tax code and the changes, figure out the best way forward, and get certified.”.

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Tax Gaming Real Estate Start-ups 110

Withum

JANUARY 18, 2023

These all fall under the umbrella of tax evasion, but it is broader than that. Agents who are part of CID investigate far more than tax crimes; they also investigate money laundering, narcotics, and a vast array of other financial crimes. The most common tax associated with this section is withholding taxes.

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Tax Government tax return Healthcare 106

CPA Practice

OCTOBER 4, 2023

Supreme Court has agreed to take up a lower court decision on taxation ( Moore v United States ) that could open or slam the door on a federal wealth tax, it’s worth a deep dive into just how terrible a wealth tax would be for American taxpayers. Second, no matter how it’s positioned, a wealth tax is not based on objective facts.

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Tax income tax Hawaii Oklahoma 105

ThomsonReuters

JULY 10, 2023

Jump to: What is use tax? Sales tax vs. use tax Summary Sales tax and use tax are important sources of revenue for the government but properly calculating, collecting, and reporting these taxes can quickly get complicated. What is use tax? How does use tax work? What is nexus?

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CPA Practice

MAY 3, 2024

Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? Do all states have a tax holiday? By Gail Cole.

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Sales Nevada Tax West Virginia 119

ThomsonReuters

JULY 9, 2024

In a landmark decision that has sent ripples through the legal and tax communities, the recent Loper Bright ruling has the potential to reshape the landscape of federal tax in significant ways. Kovacev, a 20-year veteran in federal tax controversy and tax litigation and a member of the firm, Miller & Chevalier.

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Tax Legal Gaming Government 98

Going Concern

SEPTEMBER 8, 2023

PwC’s Indigenous arm receiving contracts in wake of scandal [ Independent Australia ] Disgraced consultancy PricewaterhouseCoopers (PwC)’s “Indigenous Consulting” arm – which has been given more than $44 million in federal government contracts – is owned by just two people other than PwC itself. This paper challenges this approach.

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Kansas Tax Arkansas Real Estate 119

TaxConnex

JULY 6, 2023

In part 1, we looked at the mounting financial costs of maintaining sales tax compliance with the thousands of tax jurisdictions nationwide. Now let’s look at how some companies have tried to game the system – and what to do so you don’t have to run that risk. Do not collect sales tax and fail to remit it. That’s fraud.

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auditor audit Sales Tax 130

CPA Practice

JUNE 10, 2024

By Kathryn Anne Edwards, Bloomberg Opinion (TNS) For more than two decades, America has pursued a policy as costly as the New Deal of the 1930s or the Great Society of the 1960s, but with a much narrower aim: cut taxes. Americans are increasingly dissatisfied with their taxes. of all federal income taxes(1), up from 8.1%

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Tax income tax payroll tax Government 85

CPA Practice

JUNE 14, 2023

Nearly three-quarters of that climate change investment—an estimated $270 billion—is delivered through tax incentives. The law created two new credit delivery methods— elective pay (also known as “direct pay”) and transferability —that enables different entities to take advantage of the clean energy tax credits.

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Tax Alaska Manufacturing Tennessee 85

Withum

SEPTEMBER 14, 2022

While we’re waiting on the IRS to ramp up, now is a good time to take the opportunity to reassess your tax “strategies” and compliance. The IRS is aware of the “creative” schemes some taxpayers employ to lower their tax bills. 10 Troublesome Tax Schemes. As the saying goes, the best offense is a great defense.

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Tax tax return Entertainment audit 105

CPA Practice

SEPTEMBER 5, 2024

By Sam Janesch Baltimore Sun (TNS) Marylanders who have relatively straightforward tax returns will have the chance to ditch independent—and sometimes costly—tax preparers and instead file their federal taxes directly with the IRS for free in 2025, state and federal officials said Wednesday. ©2024 Baltimore Sun.

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Maryland tax return tax preparation Tax 105

Going Concern

FEBRUARY 10, 2023

Talent As tax season approaches, accounting firms are short on staff [ Marketplace ] Oh hey! We have seen an immense commitment from the government to invest in the metaverse and explore the technology’s public utility. The problem is, tax professionals are also waiting for guidance from the IRS.

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Florida Tax North Dakota accounted 105

Going Concern

JANUARY 11, 2023

“They have already distinguished themselves as first-choice advisors to our clients and teams, and I am confident they will help lead us into the future as we become a digital firm providing assurance, tax and consulting services. Life Sciences; State and Local Government. Real Estate; Federal Government. of the class.

Real Estate 105

Real Estate audit Education Tax 105

Going Concern

AUGUST 9, 2024

It stemmed from a 2020 petition in support of a meat tax, which was signed by more than 50,000 Dutch citizens. The Ministry of Agriculture, Nature and Food Quality formulated the assignment to research firm Ernst & Young (EY) in such a way that the outcome was almost certain in advance. for pork and €5.70

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accounting firms accounted Account accountant 104

Going Concern

DECEMBER 22, 2023

PwC posted its summer 2025 internships for areas including tax and consulting in September, the earliest the firm has ever advertised internship positions, said Rod Adams, who leads hiring for the U.S. HEY it’s not too late to snag some tax talent before busy season hits. and Mexico. As CIO, Ms. PwC declined a request by Sen.

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auditor audit accounting firms accounting and finance 111

CPA Practice

APRIL 27, 2023

a provider of cloud-based tax compliance automation for businesses of all sizes, has expanded its collection of e-invoicing certifications as it has become a Peppol certified service provider in Australia, Japan, New Zealand, and the European Union. E-invoicing is the clear direction for tax authorities and governments globally.

Government 52

Government Tax Technology Gaming 52

LyfeAccounting

JANUARY 7, 2021

?. Government spending represents over ? Who is profiting from government spending? Government contractors. That’s a lot of money going into the hands of businesses that are set-up to get government contracts. That’s a lot of money going into the hands of businesses that are set-up to get government contracts.

Government 59

Government tax return accounting and finance Start-ups 59

CPA Practice

APRIL 28, 2023

Like salaried wages, tips are subject to income and payroll taxes. Waiters, for instance, are technically required to report tips to their employer, who then withholds and pays the proper taxes. Tax gap studies conducted by the IRS found that the agency collects 55% of the taxes owed on tips, compared with 99% for salaried wages.

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Georgia payroll payroll tax Technology 126

Xero

NOVEMBER 27, 2022

Innovation in accounting technology has been constant in the last decade, from the mass adoption of cloud accounting, to tax digitalisation with Making Tax Digital (MTD), to Open Banking. Speaking of MTD for ITSA, we wanted to take this opportunity to explain how the government legislation can benefit your practice and clients.

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bookkeeping Education Technology income tax 117

PYMNTS

NOVEMBER 2, 2020

UN Committee Indicates Support For Initiative To Tax Big Tech In Developing Nations. The United Nation’s Tax Committee of Experts has indicated support for an initiative to assist developing nations in taxing Big Tech, Bloomberg Tax reported on Wednesday (Oct. streaming company to pay taxes, Techwire Asia reported.

Technology 85

Technology Tax Government Gaming 85

CPA Practice

SEPTEMBER 6, 2023

That kind of money could turn any tax official’s head. But is the sale of an NFT subject to tax? While lawmakers and tax officials worldwide have at least 91.8 million reasons to ensure tax laws account for sales of NFTs and other new tech, crafting tax policies for NFTs is difficult. million nine months later.

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Washington Pennsylvania Technology Tax 121