Win for Taxpayers in Transition Tax Case Would Cast ‘Cloud of Uncertainty,’ Analysts Say
By Tim Shaw Tax and legal analysts are forecasting a possible chaotic domino effect should the Supreme Court rule in …
Experienced Accountants Sought by IRS for New Large Corp, Partnership Auditor Positions
The IRS has posted over 3,700 new job openings for revenue agents specializing in large corporate and complex partnership compliance …
US Treasury Bureau Releases Beneficial Ownership Reporting Guide, Industry Displeased
By Brett Wolf U.S. Treasury Department’s anti-money laundering bureau has released a much-anticipated guide aimed at helping small businesses comply …
Government Shutdown Looms as Funding Solution Remains Elusive
With just 11 days left to avoid a shutdown, House Speaker Kevin McCarthy, Republican of California, remains at odds with …
Client Update: Educator Expense Deduction
This Client Update discusses the 2023 Educator Expense deduction. For 2023 this adjustment is worth $300. (IR 2023-150, 8/17/2023) Educator …
Perceived Corruption Reduces Trust in Tax Systems, Survey Shows
The latest biennial survey conducted by three financial professional organizations shows that across the globe, concerns over how tax revenue …
Key 2024 Figures Calculated by Thomson Reuters Checkpoint Based on Inflation Data Now Available
Many tax, expensing, and penalty figures are adjusted annually for cost-of-living increases. These adjustments reflect the average chained Consumer Price …
Finance Committee to Markup Bill Ending Double-Taxation between U.S. and Taiwan
Senate Finance Committee Chair Ron Wyden, Democrat of Oregon, has announced plans to convene a business meeting on September 14, …
Client Update: Taxation of Nonresident Aliens
Individuals and entities that are not U.S. citizens or residents may be required to report income that is effectively connected with …
IRS Overhauls Enforcement Strategy to Spare ‘Working-class’ Taxpayers, Target Top Earners
Reaffirming commitments made when the IRS received an $80 billion appropriation one year ago from the Inflation Reduction Act (PL …