CPA Practice

JULY 9, 2025

He joined BDO in 2002, became a tax partner in 2005, and assumed the role of national managing principal in 2019. He has held a series of progressive leadership positions throughout his career including five years as chair of BDO USA’s Board of Directors where he oversaw the firm’s governance and strategic direction.

Technology

CPA Practice

JULY 28, 2025

OBannon In the first half of 2025, states made 408 sales tax rate changes and new rates – a 24% increase compared to the first half of 2024 – as many local governments continue to grapple with the state of the economy and generating revenue. a provider of indirect tax solutions. These findings are part of the 2025 Mid-Year U.S.

Sales

CPA Practice

JULY 14, 2025

His areas of tax expertise include partnerships, including allocations, tax planning and structuring. He has held a series of progressive leadership positions throughout his career, including five years as chair of BDO USA’s Board of Directors, where he oversaw the firm’s governance and strategic direction.

West Virginia

CPA Practice

JUNE 26, 2025

Our interest expense has grown to be one of the highest government expenditures,” Sites said. business operations with the need to raise revenues will certainly be a key element of the ongoing legislative debate — especially if the government’s tariff revenue is uncertain.” debt on the economy. debt on the economy.

Finance

ThomsonReuters

JULY 21, 2025

For tax professionals, this change brings with it both opportunity and complexity, whether it’s deciphering federal changes, navigating a mix of state conformity, or managing client expectations. State c onformity and d ecoupling t rends SALT policy shifts have a ripple effect.

tax preparation

Withum

AUGUST 6, 2025

Tips No Tax on Tips allows certain employees in industries, yet to be officially named by the U.S. Treasury Secretary, to have the potential to reduce their federal income tax liability on tipped wages. In addition to this, no tax on tips is a reduction of the federal income tax for the employee.

Tax

Accounting Today

JULY 22, 2025

The Tax Times ( [link] ): What reform means for GILTI and U.S. Parametric ( [link] ): And the bills impact on mid-year tax planning. CLA ( [link] ): The FDIC has proposed significant updates to 12 CFR Part 363 (FDICIA), which governs annual independent audits and reporting requirements for insured depository institutions.

E-commerce

CPA Practice

JUNE 18, 2025

Governing Board, and the addition of John Kmetz and appointment of Rob Pruitt as vice-chair to the Forvis Mazars Global Network Board. Governing Board Partners Tim York and Fran Randall join the U.S. Governing Board, which is responsible for setting the strategic direction of the firm. The changes took effect June 1.

Technology

Accounting Today

JUNE 19, 2025

Whitman also has not filed an individual income tax return since 1997 and has made no tax payments since 2000. In 2012, the IRS assessed nearly $800,000 in taxes against Whitman for 2002 through 2009 and began trying to collect. All rights reserved. Herman Estes Jr. In March 2023, Estes made a $1.3 Sentencing is Sept.

Tax

CPA Practice

JULY 25, 2025

His areas of tax expertise include partnerships, including allocations, tax planning and structuring. He has held a series of progressive leadership positions throughout his career, including five years as chair of BDO USA’s Board of Directors, where he oversaw the firm’s governance and strategic direction.

West Virginia

Accounting Today

JUNE 6, 2025

The upgraded income tax return solution now includes enhanced client onboarding workflows that allow firms to create multiple engagements in bulk to accelerate onboarding. All rights reserved. The new AI document assistant transforms lengthy documents into actionable insights by extracting key details.

Technology

CTP

JANUARY 17, 2025

This refundable tax credit was designed to help businesses whose employees were impacted by the COVID-19 pandemic, but within just a few years, the government had detected over $2.8 The taxpayers Schedule C reports over $250,000 in gross receipts or under $30,000 in net income. billion of potentially fraudulent ERC claims.

audit

Accounting Insight

MAY 1, 2025

In this guide we cover everything you need to know about preparing for MTDincluding what it means for income tax and self-assessment, as well as MTD for Income Tax. What is MTD for Income Tax (MTD)? How can you prepare for MTD for Income Tax? What do you need to do to be MTD compliant?

Tax

Accounting Insight

APRIL 30, 2025

One way this international organisation serves its mission is by advising and supporting governments around the world to implement fair and efficient systems for international taxation. Strategic Importance to Tax Professionals For tax professionals, Pillar Twos significance goes beyond compliance.

Tax

CPA Practice

AUGUST 5, 2025

Led by Adam Strach, who founded the firm in 2009, Pipaya is a transaction advisory firm with expertise in the aerospace, defense, and government services industries. Financial terms of the deal weren’t disclosed.

Virginia

CPA Practice

JULY 24, 2025

Taxes July 24, 2025  IRS Slot Machine Jackpot Threshold is Going Up, Experts Say The slot reporting threshold is governed by an IRS regulation, so the change will not go into effect until the agency updates its rules.

Technology

Accounting Today

JULY 11, 2025

tax policy for digital assets, including assessing emerging regulations, drafting comment letters and participating in government roundtables. All rights reserved. million seed funding for agentic AI assistants; and other news and updates from the accounting tech arena. By Michael Cohn July 10 Like what you see?

Technology

Accounting Today

JUNE 9, 2025

But theres one thing that everybody forgets about that is never included in a government budget, I dont think. She went to the federal government asking for aid. billion in fraudulent earned income tax credits given out, which represented about a third of the tax returns that had the EITC credit on there.

Washington

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?

Technology

CTP

JUNE 9, 2025

For one, you don’t have to go on this tax planning journey alone. Our network of Certified Tax Planners would be more than happy to help take on the load and guide you through the best practices for creating a 2025 tax plan. This is what your tax plan should look like if no new laws are passed this year.

tax planning

Accounting Today

JULY 10, 2025

Brown and other ghost preparers who worked with him falsified 63 federal income tax returns for clients, causing the Treasury to issue $1,003,631 in false tax refunds. He owned and operated We Are Taxes and boasted that "Everyone Gets a Check!" All rights reserved. Brown had clients pay him a 10% fee of each refund.

Tax

CPA Practice

JULY 23, 2025

The AICPA survey also asked Americans who had been affected by a natural disaster how long it took to receive tax relief from the federal government. Twenty-five percent say it took one month to less than 6 months to receive tax relief from the federal government after being impacted by a natural disaster.

Technology

Menzies

OCTOBER 30, 2024

No increase in taxes on ‘working people’ As promised, the Chancellor did not raise ‘taxes for working people’, i.e. income tax and employee’s National Insurance. Elsewhere in the small print The Government already announced investment in HMRC and we can expect to see increased compliance activity from HMRC over time.

Technology

Accounting Today

JUNE 24, 2025

The Wandering Tax Pro ( [link] ): What politicos dub "tax reform" just adds complexity to the code. How any "new Internal Revenue Code must acknowledge and confirm that the one and only purpose of the federal income tax system is to raise the money necessary to fund the government." All rights reserved.

tax preparation

CPA Practice

JULY 25, 2025

Ask for identification and verify any contractor, government official or charity worker that contacts you. Confirm their credentials by searching on the web for the business/agency they claim to be from and call them directly to verify.

Technology

Going Concern

APRIL 11, 2025

News Tax firm owned by Anne Arundel lawyer found liable in unjust enrichment case [ Maryland Daily Record ] An accounting firm owned by Glen Frost, the founder of one of Anne Arundel Countys largest law firms, was found liable for unjust enrichment and ordered to pay more than $680,000 after a jury trial last month.

audit

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. This is up from $7,830 for tax year 2024. Estate tax credits The federal estate-tax exclusion amount increases to $13.99

Tax

CPA Practice

JUNE 19, 2025

made cigarettes sold in the United States if the manufacturer’s imported leaf exceeds a government-set cap. government as much $2.2 government as much $2.2 cigarette brands are flooding the market thanks to a loophole in U.S. cigarette brands are flooding the market thanks to a loophole in U.S.

Tax

CPA Practice

JULY 9, 2025

Our interest expense has grown to be one of the highest government expenditures,” Sites said. business operations with the need to raise revenues will certainly be a key element of the ongoing legislative debate — especially if the government’s tariff revenue is uncertain.” debt on the economy. debt on the economy.

Finance

Accounting Today

JULY 10, 2025

government. MORE FROM ACCOUNTING TODAY Tax-related court cases Tax Fraud Blotter: Who ya gonna call? By Jeff Stimpson 5h ago Tax Smith+Howard starts new tax practices Smith + Howard, an Atlanta-based Top 100 Firm, has opened two new tax practices: Site Selection + Incentives and State and Local Income Tax Consulting.

audit

CPA Practice

JULY 15, 2025

Here’s how the accounts will work: The federal government will contribute $1,000 to an investment account for every American baby born between Jan. An additional $5,000 in after-tax contributions can be made annually to the accounts by parents, employers or other private entities. 1, 2025, and Dec. Here’s more on custodial Roth IRAs.

Technology

Accounting Today

AUGUST 6, 2025

Sections 6041 and 6045 of the Tax Code govern such transactions. When you get into information reporting, if you just take it category by category, one of the complexities is when you have withholding taxes," said Massey. "If All rights reserved.

Technology

CPA Practice

JULY 14, 2025

The defendants orchestrated a multi-year tax fraud scheme that caused substantial loss to the government,” said Acting U.S. Cynthia Bradley, of Belleville, Illinois, was sentenced to 15 months in prison in June and ordered to pay $5,768,106.28 in restitution. Attorney Nancy Larson. “We

tax preparation

Withum

DECEMBER 17, 2024

Additionally, a lower corporate tax rate could also mean reduced government revenue, which might lead to cuts in public funding for nonprofits. While higher disposable income for individuals could increase charitable giving, changes in deductions and tax incentives could also affect the overall landscape of individual donations.

Tax

CPA Practice

JULY 7, 2025

Do I need to register my business with the federal government? You can also contact government entities such as the office of your secretary of state, your county assessor, and/or your city government. Do I need to register my business with the federal government? This allows you to pay federal taxes and hire employees.

Technology

CPA Practice

JULY 25, 2025

Under the change included in Trump’s bill, the tax credit could now be worth about $16 billion, according to figures compiled by syracuse.com | The Post-Standard. Besides the tax credits, the federal government has agreed to provide Micron with $4.6 billion in tax credits from the state’s Green Chips program , and $1.8

Tax

Menzies

MARCH 6, 2025

That said, the Government has not ruled out any new announcements, so we may still see new tax rules being implemented this year. The rate of tax is set to increase from 10% to 14% from April 2025 and 18% from April 2026. Growth The Government is committed to stimulating growth in the economy.

Technology