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Latest News & Web Pages
IRS learned lessons from ERC fraud wave
7+ hour, 57+ min ago (351+ words) The Internal Revenue Service has now closed nearly all outstanding claims for the employee retention credit after it was hit by billions of dollars in improper claims, aside from about 41,000 claims still under exam or appeal, according to a new…...
IAASB to pursue non-authoritative guidance for AI
8+ hour, 10+ min ago (305+ words) The International Auditing and Assurance Standards Board has decided to pursue non-authoritative guidance for now addressing some of the practical difficulties of applying its current standards to uses of emerging technology, like artificial intelligence." More practically, stakeholders are concerned about…...
Citrin Cooperman acquires Browne Consulting Group
8+ hour, 55+ min ago (207+ words) Citrin Cooperman today announced it acquired Browne Consulting Group, expanding its presence in Boston and strengthening its expertise in the life sciences and biotech sectors." Browne, which is based in Boston, adds roughly 60 employees to the Top 25 Firm, which is…...
Beware of tax implications of selling precious metal
9+ hour, 33+ min ago (760+ words) Due to higher technology demands, inflation concerns, and rising geopolitical uncertainty, investors are increasingly seeking hard assets for peace of mind." Gold, silver, platinum, palladium and other precious metals have increased in demand and risen to record prices. For instance,…...
April: Meeting tax clients where they are
14+ hour, 22+ min ago (366+ words) "In the world of tax, you want to be right before you go fast," said co-founder and CEO Ben Borodach. "Our vision in life is to embed tax in every financial decision," said Borodach. "In contrast to that direct relationship,…...
Scrap LTCG Tax On Equities For Individuals, Says Rajya Sabha MP Raghav Chadha Amid STT Hike
23+ hour, 15+ min ago (354+ words) Rajya Sabha MP Raghav Chadha has called on the government to abolish Long-Term Capital Gains (LTCG) tax on equities for individual investors. His demand comes after Finance Minister Nirmala Sitharaman announced a hike in Securities Transaction Tax (STT) on derivatives…...
IRS expands Tax Pro Accounts
1+ day, 5+ hour ago (232+ words) The Internal Revenue Service is adding new capabilities to the online Tax Pro Account, allowing firms to specify which staff members are authorized to act under the business's Centralized Authorization File access. Sole practitioners and other businesses that don't use…...
Tax Court sets precedent on R&D credit for agriculture
1+ day, 10+ hour ago (386+ words) The U.S. Tax Court issued a ruling saying that innovations in livestock production can qualify for the research and development tax credit, establishing new case law in an emerging field. Tax Court Judge Travis Greaves made a number of jokes in…...
KPMG acquires PrivateBlok, team will support AI developments
1+ day, 11+ hour ago (387+ words) Big Four KPMG announced that the employees and founders of AI development platform PrivateBlok will be joining the firm and will help it further scale its AI capacities. The terms of the deal were not disclosed." "We're thrilled to join…...
How to tackle the rise of AI-generated receipts
1+ day, 15+ hour ago (706+ words) The value of AI in the workplace is a numbers game: a cost and benefit exercise. Gartner predicted that global spending on AI would total $1.5 trillion in 2025. Meanwhile, the long-term AI opportunity in added productivity is estimated to be $4.4 trillion,…...