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Tax Preparation
Your CPAs Guide To The New ERC Crisis
IRS Announces Moratorium on the Employee Retention Credit and Provides Guidance for Civil Penalty Amnesty to Withdrawing Improper Claims, Also Known As - Don’t Deposit That Check and Hire Legal Counsel The expansion and strong marketing tactics of good-for-nothing “accounting advisors” who encouraged taxpayers to qualify for the Employee Retention Credit (“ERC”) when they did not technically qualify has caused…
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Unpacking The President’s Tax Priorities
Tax Notes White House reporter Alexander Rifaat discusses the Biden administration’s economic plan called “Bidenomics” and its effect on tax. David D. Stewart: Welcome to the podcast. I'm David Stewart, editor in chief of Tax Notes Today International. This week: parsing priorities. With just over two and a half years…
Equal Rights Led To American Women’s Soccer Success
The United States women have been narrowly knocked out of soccer’s World Cup in the round of 16, the earliest a US team has ever exited the tournament. And the always-divisive Donald Trump blamed the loss (somehow) on liberal policies, tweeting that “WOKE EQUALS FAILURE” (his caps). But in fact…
What You Need To Know About Electric Vehicle (EV) Tax Credits
My husband is buying a new car today. He considered buying a new electric vehicle (EV) but ultimately opted not to—another model caught his eye. But increasingly, consumers are opting in—in 2022, more than 750,000 new EVs were registered in the U.S. With a whopping 13.4 million light vehicles sold…
Downgrade Should Be A Wake-Up Call To Washington — Even If It’s Wrong
How concerned should policymakers and their constituents be about Fitch Ratings Agency’s decision to downgrade the United States credit rating from AAA to AA+ last week? The White House brushed it off, saying Fitch “defies reality” to downgrade U.S. credit at a time when the country is experiencing “the strongest…
New Rules Make I-9 Process Simpler —But It’s Still Easily Overlooked
“The I-9 requirement is probably the most overlooked form that really small, trying-to-do-it-themselves employers miss,” says Catherine Madeley, a CPA in Austin, Texas. U.S. Citizenship and Immigration Services released a new version of the I-9 on August 1. Temporary rules for remotely verifying employee identities that were implemented during the…
African Cross-Border Trade Growth Demands Tax Transparency
In mid-July, hundreds of African business leaders descended upon Nairobi to discuss trade and investment across the African continent at the African Union High Level Private Sector Forum. The African Union brought them together to discuss public-private partnerships, and over the course of their three-day summit, one topic ranked highly:…
Can Cities Recover Their Pandemic Population Losses?
Among its many damages, the Covid-19 pandemic caused major population losses in many US cities, through a combination of working from home, loss of new immigrants, and movement to less expensive areas. Recent data suggest those losses may have slowed, but cities could still be left facing major population declines,…
IRS Announces Plans To (Almost) Go Paperless Beginning In 2024
During the pandemic, taxpayers saw photos from the IRS cafeteria in Austin, Texas, showing racks and racks of paper filling a room not generally used for storage. It was a glimpse of the tens of millions of pieces of paper that require manual processing at the IRS. But, IRS Commissioner…
Taylor Swift Says Thank You To Eras Tour Workers By Handing Out Checks
By any measure, Taylor Swift's Eras Tour is a success. It's on tap to become the highest-grossing tour of all time, and a record number of fans—myself included on behalf of my daughters—logged on to Ticketmaster to buy tickets for the tour, resulting in the most tickets ever sold for…
IRS Lists Monetized Installment Sales As Abusive Transactions
If you are a seller of appreciated property, it may be attractive to sell it on the installment method. That way, you pay tax over time as you get the installment payments, rather than paying tax all at once. Subject to technical rules and limits, hat is perfectly legal, section…
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Creative Ways Startups Can Earn Funding in Tough Economic Times
In a declining economy, startups face an uphill battle when it comes to securing funding.…
I Asked AI to Create a Plan for a Fake Company — The Results Blew Me Away, But Not in the Way You Might Think
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Ideas To Transform You From Good To Better To Best
A while back, I took a couple of my grandchildren on a tour of the…
5 Crucial Challenges Startups Must Overcome
Startups face numerous challenges on their journey to success, and failing to overcome any one…