IRS January 17, 2025
IRS Chief Danny Werfel to Resign on Jan. 20
Werfel took over as chief of the tax agency in March 2023 and is stepping down on Inauguration Day with more than two years left in his term.
Payroll December 14, 2022
Flexible Spending Account Deadline is Approaching: If You Don’t Use It, You Lose It
Money that’s put into FSAs must be used by Dec. 31; however, some firms allow you to roll over a portion of unused money.
Accounting December 14, 2022
Great SPAC Crash of 2022 Deepens as Investors Cash Out in Droves
Some SPACs face investor meetings that will give clients a chance to exit ahead of a new tax that could hurt their returns.
Taxes December 14, 2022
Billionaire Ken Griffin Sues IRS Over Leaked Tax Records
His income and taxes were reported by ProPublica along with similar information for hundreds of wealthy Americans.
Taxes December 14, 2022
Trump Organization Found in Criminal Contempt in Tax Fraud Case
A New York judge said the company “willfully disobeyed” his orders to comply with grand jury subpoenas.
Digital Currency December 14, 2022
FTX Founder Sam Bankman-Fried Charged with ‘One of the Biggest Financial Frauds in American History’: Feds
He is accused in parallel criminal and civil complaints of orchestrating a yearslong fraud causing billions in losses.
Taxes December 13, 2022
Intuit Accountants Releases 2022 Taxpayer Insights & Intelligence Brief
The study provided a holistic view of a taxpayer’s experience when working with a tax professional to gain insights into their expectations and service needs.
Taxes December 12, 2022
Why Donald Trump Wasn’t Charged in New York Criminal Tax Probe
While Trump himself wasn’t charged, prosecutors argued at trial that he “explicitly sanctioned tax fraud.”
Accounting December 12, 2022
Ensuring Success is This Week! Free Online CPE Conference Offers 14 Sessions Dec. 14-15, 2022
The conference is totally free for CPAs, tax professionals, and other professionals, and offers 14 sessions, each worth 1 hour of CPE credit. Several sessions also qualify for IRS CE credit.
Taxes December 12, 2022
IRS Lays Out New Rules for Makers, Sellers of Clean Vehicles
The processes in the new guidance are required for vehicles to be eligible for one or more clean vehicle tax credits.
Accounting December 8, 2022
Ex-Theranos President Balwani Gets 13-Year Prison Term in Fraud Case
Ramesh “Sunny” Balwani’s sentence is longer than the one given to former CEO Elizabeth Holmes last month.
Taxes December 8, 2022
Kanye West’s Yeezy Clothing Brand Owes California $600,000 in Unpaid Taxes
Notice letters were sent to the disgraced rapper’s company in July 2021 and February and September 2022.
Taxes December 7, 2022
Tax Refunds May Be Smaller in 2023, IRS Warns
The lack of stimulus payments in 2022 will play a key role, according to the IRS.