Taxes
Misclassification of Expenses at Heart of Trump Indictment
Former President Donald Trump was indicted Thursday by a Manhattan grand jury.
AICPA Proposes Operational Plan for Resources Included in Inflation Reduction Act
The AICPA issues its position on the Internal Revenue Service’s (IRS) upcoming operational plan for the $80 billion appropriation provided to the IRS through the Inflation Reduction Act.
AICPA Requests IRS Broaden Relief and Lookback Period for All Disasters
The National Taxpayer Advocate identified this issue as part of its Annual Report to Congress, or Purple Book, highlighting the need for particular attention.
AICPA Comments on Interim Guidance Regarding Corporate AMT
The American Institute of CPAs (AICPA) submitted comments and recommendations which identify and provide additional information regarding CAMT guidance.
Don’t Take Tax Advice from Social Media
The IRS warns that trusting tax advice found on social media can lure otherwise honest taxpayers and tax professionals into compromising tax situations.
Former IRS Worker Guilty of Fraud and Identity Theft
The individual, who was a tax preparer and, at times, an IRS employee, was convicted of several counts of fraud and identity theft.
Internal Revenue Service Employee Charged with Theft of Government Vehicle
If convicted, the person could receive a maximum term of 10 years in prison and a fine not to exceed $10,000.
Is Massachusetts Losing High Income Residents?
The report points to the state’s tax policies that make Massachusetts an outlier.