Income Tax
Latest News
GASB Proposes Guidance on Subsequent Events
FASB Issues Post-Implementation Review Report for Its Revenue Recognition Standard
Newsom: California Will Offer EV Rebates if Trump Cuts Federal Tax Credit
Bloomberg Tax & Accounting’s Compliance Tracker Expands Global and Indirect Tax Capabilities
Taxpayers Can Use a 529 Plan for Themselves
But Section 529 plans don’t have to be used only for your kids. One can be set up to reward virtually any beneficiary—including yourself!
How to Deduct Business Expenses While on Vacation
When planning your travels this summer or any other time of the year—business or personal—just remember that the IRS pays close attention to expenses incurred.
How Accounting Pros Can Leverage Technology to Overcome the Biggest Struggles
Firms need to consider technology as an opportunity – not a challenge - to help drive efficiency and overcome their top five talent-related challenges.
U.S. Employers Expect 4% Payroll Increases in 2024
Though down from the actual increase of 4.4% in 2023, the numbers remain higher than the 3.1% salary increase budget in 2021 and years prior.
AICPA Voices Support for Tax Deadline Simplification Act
The AICPA supports altering the due dates for estimated tax payments, stressing that it would be better to more closely tie payment due dates to the normal quarter date, which is traditionally 15 days after the quarter end.
Supreme Court to Rule on Legality of Wealth Tax
The Supreme Court announced Monday it will weigh in on the constitutionality of wealth taxes, with a ruling expected in fall 2023.
Transcripts From Hunter Biden Probe Released by House Ways and Means
The panel voted along party lines to make public 400 pages of transcripts from interviews with two IRS employees.
H&R Block Partners with Microsoft for Tax Prep AI
The system uses thousands of machine learning models trained with millions of tax returns, AI algorithms, and generative AI technology.