Income Tax
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Avalara Adds Generative Chat to Bolster Support and Product Experiences for Customers and Partners
What Can be Done About the Accounting Talent Shortage?
SafeSend Unveils New AI-Powered Tools for Tax and Accounting Professionals
TaxPlanIQ Users Have Achieved Over $1B in Tax Savings with Tax Planning Software
IRS Needs To Clamp Down on Hobby Losses, Says Watchdog
pproximately 1.2 million taxpayers may have used hobby losses to reduce their taxable incomes to potentially avoid paying $2.8 billion in taxes in 2005. The overall objective of the latest review was to determine whether the IRS is taking sufficient ...
Accounting Firm Closes Offices for Day of Giving Back to Communities
The yearly firm-wide community service event works with nonprofits to set up a variety of day-long philanthropic projects that serve the communities where employees live and work.
Tax Court Approves Compensation Paid to Business Founder’s Sons
On its tax returns, the company deducted about $4 million in compensation and $7.3 million paid to the sons in 2003 and 2004, respectively. The IRS audited the business and partially disallowed the deductions for compensation.
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Congress Needs to Modernize the FTC
There is an opportunity for Congress to modernize the agency so that it better protects consumers from harm while minimizing regulatory costs and better enabling robust innovation in the U.S. economy.
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Old Labor Laws Not Keeping Up With Gig Economy, Decrease Worker Benefits
The traditional distinction between employees and independent contractors is discouraging companies from offering gig economy workers important support, particularly when it comes to taxes. That'd according to Joseph Kennedy, senior fellow at the ...
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Chain Restaurant Group Calls New Overtime Regs “Outrageous”
As a result of the Labor Department's new overtime rules, management positions in restaurants will disappear, limiting career advancement and hurting restaurant employees and owners, according to the National Council of Chain Restaurants.
Tax Filing Deadlines for Expats, FBAR Coming Up
Most expatriate U.S. citizens need to file by June 15, 2016. Taxpayers who need to file an FBAR (Foreign Bank and Financial Account Report) must file by June 30. More than 1 million taxpayers filed an FBAR in 2015. Taxpayers with foreign assets, even ...
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Texas Tycoons Caught Rigging Their Taxes
A couple of Texas tycoons who lived life high on the hog have been found guilty of tax fraud. A U.S. bankruptcy court ruled that two brothers and business associates, Sam and the now-deceased Charles Wyly, used complex offshore trusts and shell ...