Taxes
Year-End Moves for Flexible Spending Accounts
If your company doesn’t offer either option, try to empty out your account before January 1.
IRS is Using AI to Identify Wealthy Tax Cheats for Audit
The agency is opening examinations of 75 of the largest partnerships in the U.S. that on average have over $10 billion in assets.
How to Avoid the “BIG” Tax on S Corp Conversions
The BIG tax often catches business owners by surprise. Fortunately, however, you may be able to avoid adverse tax consequences with some astute planning.
Are There Conflicts of Interest Between the IRS and Accounting Firms?
In a report, TIGTA identified employees moving between large accounting firms and the IRS, often referred to as the “revolving door.”
Businesses Must E-file Form 8300 in 2024, IRS Says
This new requirement follows final regulations amending e-filing rules for information returns, including Forms 8300, released in February.
Colorado Lawmakers Again Ask IRS: Don’t Tax TABOR Refunds
New IRS guidance marked the second time this year the agency raised the specter of subjecting state refunds to federal income tax.
How to Determine the Nature and Taxability of NFTs
Is the sale of an NFT subject to tax? Should it be? While lawmakers and tax officials worldwide have at least 91.8 million reasons to ensure tax laws account for sales of NFTs and other new tech, crafting tax policies for NFTs is difficult.
AI Systems Take Center Stage in 2023 Innovation Awards
The Innovation Awards are presented to honor new or recently enhanced technologies that benefit tax and accounting professionals and their clients through improved workflow and efficiencies, increased accessibility, enhanced collaboration, greater accuracy, or other means.