Withum

JULY 2, 2025

The mistake – they failed to comply with an esoteric tax rule known as the variance doctrine. Shleifer filed a joint tax return with his wife in 2014, and on that return, the Shleifers claimed a $2.6 Court Decision On June 9, 2025, the District Court issued a decision on the motions in favor of the government.

Tax

Withum

APRIL 14, 2025

Pros Flexibility: LLCs can choose to be taxed as a sole proprietorship, partnership, S Corporation, or C Corporation. Pass-Through Taxation: Profits and losses can be passed through to the member’s personal tax returns, avoiding double taxation. It is a popular choice among small business owners due to its flexibility.

tax return

Accounting Today

JULY 18, 2025

Bloomberg announces new features for AI Assistant Bloomberg Tax and Accounting announced a bevy of new features for its AI Assistant. This is on top of the tax content it already draws upon, such as Bloomberg Tax Portfolios. This is on top of the tax content it already draws upon, such as Bloomberg Tax Portfolios.

Technology

Accounting Today

JUNE 19, 2025

EDT 5 Min Read Facebook Twitter LinkedIn Email Seeking shelter; please be Gentle; where the heart is; and other highlights of recent tax cases. Nixa, Missouri: Tax preparer Tina Louise Yager has pleaded guilty to making false and fictitious claims against the U.S. million in taxes on income he earned from his business.

Tax

Going Concern

JANUARY 3, 2025

The San Francisco-based HR tech company Employer.com focuses on payroll and onboarding, in contrast to Bench, which specializes in accounting and tax. The new platform of roughly 12,000 professionals will include a united Trans-Atlantic advisory and tax practice, as well as independent audit practices.

auditor

Accounting Today

JUNE 20, 2025

Taxfyle rolls out TXF Intelligence for smaller practitioners Tax solutions provider Taxfyle announced the release of its new TXF Intelligence product, a generative AI tool built to automate and streamline tax return preparation for small tax and accounting firms in the U.S. All rights reserved.

Technology

Withum

AUGUST 6, 2025

Individuals who believe they are subject to the no tax provisions on tips and/or overtime may be tempted to adjust withholding. 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.

Tax

CPA Practice

JUNE 30, 2025

From tax prep to asset management, invoicing and portals, and auditing to remote CFO functions, the services the accounting and tax pros provide are dependent on the technologies they use. The awards highlight the most useful technology for firms and clients.

Technology

Withum

DECEMBER 24, 2024

Garland issued an order granted the governments motion for a temporary stay of the district courts order imposing a nationwide injunction on beneficial ownership information (BOI) reporting, pending a final resolution of the appeal. On December 23, 2024, the Fifth Circuit Court of Appeals in Texas Top Cop Shop v.

Texas

MyIRSRelief

MAY 23, 2025

Your Complete Guide to Tax Help in San Diego, California: Frequently Asked Questions Expert Tax Resolution Services by Mike Habib, EA – Serving the Greater San Diego Metropolitan Area About Our San Diego Area Tax Services Q: Which areas does Mike Habib, EA serve in the San Diego metropolitan region?

California

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

Going Concern

OCTOBER 24, 2024

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!

Real Estate

CPA Practice

DECEMBER 2, 2024

AICPA Recognizes Tax Experts with Arthur J. Dixon Memorial Award and Jonathan Horn Distinguished Service Award The American Institute of CPAs (AICPA) recently recognized two prominent Tax Division members during the 2024 AICPA Fall Tax Division Meeting. He also served on the AICPA’s Tax Executive Committee.

CPA

Accounting Today

JULY 10, 2025

EDT 6 Min Read Facebook Twitter LinkedIn Email Underhanded underground; down on the farm; reality check; and other highlights of recent tax cases. Augusta, Georgia: Two ghost preparers have pleaded guilty to a tax scheme. All rights reserved. By Jeff Stimpson July 10, 2025, 6:14 p.m.

Tax

Withum

APRIL 15, 2025

trillion for federal tax reform but also a goal of $2 trillion in spending cuts, with specific instructions of cutting spending by $1.5 Our team closely monitors and analyzes proposed tax legislation, providing individuals and businesses with timely insights to help navigate the evolving tax landscape.

Tax

Menzies

AUGUST 6, 2025

In July 2025, HMRC published their Transformation Roadmap explaining how they plan to meet the Government’s vision to modernise the UK tax systems to free up time for businesses to focus on growth. Some ways in which HMRC plan to become “digital first” include: Automating tax where possible similar to the current PAYE system.

tax return

Withum

JULY 8, 2025

The new law will greatly expand the availability and benefits of the QSBS exclusion, as evidenced by the fact that the Joint Committee on Taxation scored the provision to cost the federal government $17,186,000,000. There are also specific tax strategies, like stacking and packing , that enable shareholders to magnify their QSBS tax benefits.

Tax

Withum

JANUARY 30, 2025

Following the January inauguration, a flurry of executive orders, and Senate confirmations rolling in, the timing of when federal tax reform will take place still appears to be undecided amongst the Republican party. How Will Federal Tax Reform Be Presented In Congress? How Will Federal Tax Reform Be Presented In Congress?

Tax

Going Concern

JULY 18, 2025

[ Raconteur ] “Without clear metrics, it is difficult to know the extent to which AI is improving the quality of audits, increasing efficiency or just adding complexity,” says Akber Datoo, chief executive of D2 Legal Technology, a data and governance consultancy that works with financial institutions. Want Government Efficiency?

audit

Accounting Today

JULY 8, 2025

and other highlights from our favorite tax bloggers. It is done Eide Bailly ( [link] ): For lawmakers, officials and tax experts, its been a whirlwind of activity and work. It is done Eide Bailly ( [link] ): For lawmakers, officials and tax experts, its been a whirlwind of activity and work. All rights reserved.

Real Estate

Accounting Today

JULY 8, 2025

Supreme Court let President Donald Trump move ahead with plans to dramatically reduce the size of the federal government, lifting a court order that had blocked 19 federal departments and agencies from slashing their workforces. All rights reserved. EDT 3 Min Read Facebook Twitter LinkedIn Email Pedestrians cross a street near the U.S.

Technology

Withum

FEBRUARY 27, 2025

The House took the first step toward federal tax reform by approving a budget resolution on February 25, 2025, that would require $2 trillion in overall spending cuts over the next decade. trillion in tax cuts as an extension of President Trumps 2017 tax cuts is set to expire this year. This resolution aims to help pay for $4.5

Tax

Accounting Today

JULY 3, 2025

Lake is a director of tax services at Berkowitz Pollack Brant Advisors + CPAs, where she leads the state and local tax practice. Additionally, the FICPA Scholarship Foundation appointed Jennifer Keller, a leader in Crowes national retail dealer services group, as its 2025-26 chair on July 1. All rights reserved.

Technology

Accounting Today

JULY 8, 2025

Thus, communications from a house of worship to its congregation in connection with religious services through its usual channels of communication on matters of faith do not run afoul of the Johnson Amendment as properly interpreted." All rights reserved.

Technology

CPA Practice

OCTOBER 22, 2024

In this white paper, we break down the key federal payroll laws, explore important compliance insights, highlight the role of technology, and provide practical tips for maintaining compliance. federal payroll compliance is an ongoing process that requires vigilance and dedication.

payroll

MyIRSRelief

OCTOBER 3, 2022

If you own a property, a business, or are employed, you’ll likely have to pay taxes. According to the 16th Amendment in our Constitution, individuals are required to pay taxes from income sources. Taxes can be broken down into three categories: what you purchase, what you own, and what you earn. Call us today at 1-877-788-2937.

tax services

TaxConnex

SEPTEMBER 26, 2023

Usually all retail sales of tangible personal property (TPP) are taxable, but many states have started to tax services. Who the customer is and what they’ll use the TPP for can create a sales tax exclusion, too, such as when selling to a church or government agency. Managing the process Calculating sales tax.

Sales

TaxConnex

JANUARY 28, 2021

There’s always something changing or new going on in the world of tax, especially sales tax. Nationwide , the Streamlined Sales Tax Governing Board has made amendments to the Streamlined Sales and Use Tax (SST) Agreement to revise its amnesty-related provisions. The waiver will be effective until Feb 22.

Sales

TaxConnex

JUNE 9, 2022

What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax. Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. million in taxes a year on the sale of groceries.

Sales

TaxConnex

MARCH 3, 2022

Understanding the taxability of your company’s products or services is one of the key steps to complying with sales and use tax laws. Services” are not tangible and can be an entirely different animal in terms of taxability. Services continue to pop up among states’ lawmakers as a potential new source of sales tax revenue.

Indiana

Withum

OCTOBER 6, 2022

Last week, the Federal Government released guidance allowing certain federal tax filings and payments to be extended until February 15, 2023, for the victims of Hurricane Ian. The lack of state income tax extensions for victims of Hurricane Ian may require additional compliance procedures to avoid penalties. affected taxpayer)?

Government

CPA Practice

APRIL 7, 2023

The Department of Justice is warning taxpayers to choose their return preparers wisely as the April 18 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest. million in restitution.

tax preparation

Withum

FEBRUARY 21, 2022

government the authority to revoke U.S. passports or reject passport applications for individuals who have delinquent tax debts in excess of $52,000, provided such debts have been certified by the Internal Revenue Service. International Services. The post Owe Taxes? The law gives the U.S. Contact Us. Contact Us.

Tax

TaxConnex

MAY 2, 2023

Mike Dunleavy is reportedly preparing to introduce a sales tax as part of a long-term budget plan for the state. Five states don’t have a statewide sales tax: New Hampshire, Oregon, Montana, Alaska and Delaware (aka the “NOMAD” states). Vermont was the last state to adopt a sales tax, in 1969.

Alaska

Withum

JANUARY 13, 2022

The COVID-19 pandemic created a vast network of small business relief programs in the form of loans, grants, tax credits and direct payments. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns. Q7: When do I report the tax-exempt income relating to PPP loan forgiveness?

Tax

Withum

JUNE 12, 2024

S Corporation shareholders and partners in a partnership could see their effective federal income tax rate increase by 30% by the end of December 31, 2025, due to the expiration of certain tax laws. A dramatic increase to the effective tax rate may catch many pass-through entity businesses by surprise.

income tax

Withum

SEPTEMBER 22, 2022

The IRS ruled that the PPP loan forgiveness amount is not tax-free, even if the SBA and lender granted the borrower full loan forgiveness, if the taxpayer did not satisfy the factual requirements for loan forgiveness. The rest of the analysis in the CCA is a relatively straightforward application of the tax law. Contact Us.

Tax