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News
Goldman Sachs bond traders stumbled as Wall Street rivals thrived: 'A fire is being lit under' them
4+ mon, 4+ week ago (473+ words) When Goldman Sachs executives were asked about disappointing results in the firm's fixed income division this week, they made it sound as though the trading environment was simply not in their favor. Fixed income revenue fell 10% in the first quarter,…...
Epstein's accountant: 'I never saw anything improper"
5+ mon, 2+ week ago (1075+ words) In the decade-and-a-half that he worked for Jeffrey Epstein, accountant Richard Kahn never saw anything untoward — either in the child trafficker and sex offender's financials, or in person. Kahn, who spent most of his tenure with Epstein tracking spending on…...
On the move: Forvis Mazars names health care MP
5+ mon, 2+ week ago (130+ words) CohnReznick appoints pair of managing directors; Dean Dorton opens second Cincinnati office; and more news from across the profession. The Top 75 Firm acquired CoMetrics Partners, a specialized management consulting and technology firm based in New York City. Plus, Dext launches…...
In the blogs: Running out the clock
6+ mon, 3+ day ago (173+ words) Here's a tip; what a relief; established client base; and other highlights from our favorite tax bloggers. Running out the clock Mistakes will be made The IRS's changes in its instructions for claiming the new tax deduction for tips is…...
Income Tax Draft Rules 2026: Cash Withdrawal & Deposit Limits And PAN Rules Explained
6+ mon, 3+ week ago (376+ words) Income Tax Draft Rules 2026: In order to ease compliance norms, the income tax department has proposed to allow cash withdrawal and deposits of up to Rs 10 lakh in a financial year without the requirement of a Permanent Account Number (PAN)....
New Income Tax Rules: From PAN To Tax Benefits, Budget Announcements Kick In From April 1
6+ mon, 3+ week ago (266+ words) Similarly, the threshold for furnishing PAN for high-value spending at hotels, restaurants and functions has been increased. Earlier, PAN was required for bills above Rs 50,000. From April 1, 2026, PAN will be needed only when the bill exceeds Rs 1 lakh. The rules…...
5 Key PAN Rule Changes In Draft Income Tax Rules That Could Impact Daily Transactions
7+ mon, 3+ day ago (439+ words) The draft rules, currently open for public feedback, are aligned with the forthcoming Income Tax Act, 2025, which is scheduled to take effect next year. A major proposal relates to cash deposits and withdrawals. Under the draft norms, PAN will be…...
New IRS withholding rules for third-party payments bring relief
7+ mon, 1+ week ago (850+ words) The IRS has finally addressed the reporting threshold confusion that has plagued tax practitioners since 2021. The Treasury and the IRS issued proposed regulations on Jan. 8 to align backup withholding rules with the One Big Beautiful Bill Act's restoration of the…...
Mandelson appeared to leak UK government tax info to Epstein
7+ mon, 1+ week ago (614+ words) Documents released by the Department of Justice appear to show that Peter Mandelson leaked sensitive U.K. government emails to disgraced financier Jeffrey Epstein while serving as a minister. According to the files, Mandelson forwarded internal Downing Street emails about tax policy…...
IRS rules that community trust and affiliated nonprofit corporation can file a single Form 990
7+ mon, 1+ week ago (343+ words) Editor: Susan M. Grais, CPA, J.D., LL.M. Regs. Sec. 1.170A–9(f)(11)(iii) requires an organization to be commonly known as a community trust, fund, foundation, or other similar name showing the fund supports charitable activities in the community or area it serves. Regs. Sec....