Taxes
Fast Track Compliance with the IRS Pub 4557 and the FTC Safeguards Rule – a No-nonsense Guide for Firm Owners
By now, most tax preparers are aware they need to comply with the FTC Safeguards Rule and IRS Publication 4557. Failure to do so could result in stiff penalties.
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.
How to Prepare For and What to Do Following the Death of a Tax Practitioner
The IRS offers tips to protect the practitioner’s clients, firm, and family, and to ensure compliance with legal requirements.
Latest GOP Tax Package Includes a Bonus ‘Guaranteed’ Standard Deduction
A proposed Republican tax cut package contains a temporary "bonus" of up to $4,000 for the current standard deduction.
Tax and Accounting Best Practices for Cryptocurrencies
As a tax and accounting professional, you will encounter clients who require guidance regarding investing in cryptocurrencies and digital assets.
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.
BDO USA is Shifting From a Partnership to a Corporation
The sixth largest accounting firm in the U.S. will be known as BDO USA P.A. after the change in its structure becomes official July 1.
AICPA Requests Guidance on Non-Fungible Tokens and Clarity on Digital Assets & Virtual Currency Reporting
The AICPA is encouraging Treasury and the IRS to issue guidance on specific issues to assist taxpayers in properly reporting transactions with virtual currency.