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Latest News & Web Pages
In the blogs: If you make it here "
5+ hour, 18+ min ago (178+ words) Most magical place; Amazon warehouses; paper or plastic; and other highlights from our favorite tax bloggers. If you make it here " 'Upside down' tax breaks The Governmental Accounting Standards Board debuted a series of videos to help officials understand the…...
GASB videos help elected officials navigate financial reports
8+ hour, 33+ min ago (452+ words) The Governmental Accounting Standards Board has begun posting a new series of videos to help elected officials and other stakeholders understand the information included in government financial reports and how they can use it. Viewers can watch videos by topic…...
Court rules micro-captive insurance not a listed transaction
8+ hour, 55+ min ago (652+ words) A Texas federal judge ruled against the Internal Revenue Service in a case involving its classification of micro-captive insurance as a "listed transaction," but also ruled in favor of the IRS classifying micro-captives as "transactions of interest." In Drake Plastics…...
Prediction markets step up lobbying to fight stricter rules
16+ hour, 47+ min ago (1113+ words) Prediction markets are pouring money into Washington to defend against escalating criticism that their fast-growing platforms are contributing to a gambling explosion and enabling insider trading." Leading online platform Kalshi, alongside crypto and sports gambling companies that have launched their…...
Insurers eyeing AI risk at CPA firms
8+ hour, 16+ min ago (592+ words) While the specific impacts are still being determined, professional liability insurers that cover CPA firms increasingly are coming to a consensus that AI is a source of risk that must be controlled by strong governance. These risks have yet to…...
Kentucky passes CPA pathway bill
16+ hour, 26+ min ago (312+ words) The commonwealth of Kentucky has become the latest state to pass legislation offering an alternative pathway to qualifying for a CPA license in an effort to broaden the talent pipeline of young accountants. The bill was supported by the Kentucky…...
Where smart CPA firms are getting stuck
11+ hour, 7+ min ago (691+ words) I talk with many CPA firm leaders who know the right priorities to focus on, so why is it so difficult to make headway in these areas across the industry?" We need growth to create opportunities for staff and new…...
US opens portal for tariff refund claims
1+ day, 6+ hour ago (168+ words) The Trump administration has opened an online portal where businesses can file their claims for refunds on the tariffs they paid under the emergency powers that the Supreme Court has since ruled unconstitutional. Importers of record and customs brokers can…...
Ineligible businesses getting payroll tax credits
1+ day, 13+ hour ago (415+ words) Small businesses that don't qualify for a payroll tax break are still claiming and receiving it, despite the Internal Revenue Service's efforts to stop them, according to a new report. A qualified small business can apply up to $250, 000 of any…...
IRS updates guidance on educational assistance programs
1+ day, 9+ hour ago (245+ words) The Internal Revenue Service posted an updated fact sheet on the tax rules surrounding educational assistance benefits after the passage last July of the One Big Beautiful Bill Act. Under the OBBBA, the amount that may be excluded from gross…...