CPAs call for automated name, address change process
The American Institute of Certified Public Accountants (AICPA) is calling on the IRS to create an automated, online process for …
Thomson Reuters Tax & Accounting News
Distant war drives up costs for corporate America, consumer wallets
The war in the Middle East is squeezing U.S. corporate profits and could push up prices on everything from plane …
New York City extends pied-a-terre exemption deadline, removes some property owners from list
New York City has pushed back the deadline for residential property owners to request an exemption from the new pied-a-terre …
Accounting organizations urge banking agencies to specify AICPA standards for monthly exam of stablecoins
The AICPA and its affiliate, the Center for Audit Quality (CAQ), recommended that the Office of the Comptroller of the …
Publix files suit to recover $2.6 million research credit
Publix Super Markets Inc. is suing the federal government to recover a $2.6 million research credit that the IRS disallowed …
Under What Circumstances May a Health Plan Rescind a Participant’s Coverage?
QUESTION: We are a plan sponsor and want to make sure we understand the rules around rescinding health coverage. Under …
Group urges IRS to end improper taxpayer interview demands
The Texas Society of CPAs (TXCPA) is urging the IRS to stop its agents from requiring represented taxpayers to personally …
Ohio updates SSUTA taxability matrices, certificate of compliance
By Amer Lakhani, JD, Checkpoint News The Ohio Department of Taxation has updated its taxability matrices and Certificate of Compliance …
Investors can prepare now for Opportunity Zone 2.0 launch, expert says
Recent IRS guidance sunsets the original Opportunity Zone program two years early, a surprise move forcing investors to reassess projects …
Senators raise concerns about potential misuse of alternative fuel excise tax credit
A group of Democratic senators has asked the Treasury Inspector General for Tax Administration (TIGTA) to investigate the IRS’ legal …
Global hiring expands, but compliance challenges are keeping payroll teams on alert
Global hiring is no longer just a strategy for multinational corporations. Faced with competition for specialized talent, remote work acceptance, …
Gov urges 1st Circuit to lift block on IRS-ICE data sharing
The federal government has asked a federal appeals court to lift an order blocking it from using confidential taxpayer addresses …
The Automatic Exemption from Penalty (AEP) Program – Hidden Pitfalls
Practitioner’s Tax Action Bulletin® Background For years, the IRS has offered penalty relief to taxpayers with a strong compliance history …