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ERC Officially Ends on April 15 With Unsatisfactory Results
Taxation
The employee retention credit (ERC), implemented during the COVID era, will officially end April 15. However, according…
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IRS Expands Voluntary Buyouts as RIF Widens, Commissioner Resigns
Auditing
The IRS is escalating its reduction-in-force (RIF) efforts by offering three voluntary separation programs as it braces for…
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Senate Moves Trump's Tax Cuts Forward Amid Tariff Jitters
Taxation
According to Bloomberg, Senate Republicans have passed a budget resolution advancing President Donald Trump’s push to…
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Despite Reinstating Probationary Workers, IRS Continues Reducing Its Workforce
Taxation
According to the Journal of Accountancy, roughly 7,000 probationary IRS employees who had lost their jobs in February then…
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N.Y. Lawmakers Pass Budget Extender as They Negotiate Key Tax Proposals, Among Other Issues
Taxation
On April 1, N.Y. lawmakers passed an extender funding bill as they continue negotiations on Gov. Kathy Hochul’s $252…
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House Passes Several Bills to Aid Taxpayers, Increasing Transparency Into the Payment Process
Taxation
The U.S. House of Representatives has passed bipartisan bill H.R. 998, known as the Internal Revenue Service Math and…
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PCAOB Reports Notable Decline in Audit Deficiency Rates at Major Firms
Accounting
The Public Company Accounting Oversight Board (PCAOB) announced on March 31, that audit quality at the six largest global…
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IRS Touts Financial Crime Wins as Layoffs Undermine Tech Infrastructure
Auditing
The IRS Criminal Investigation unit is ramping up its use of banking data to crack down on tax and financial fraud,…
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IRS Adds Key FAQs as ERC Filing Deadline Nears
Accounting
With the April 15 deadline looming for 2021 Employee Retention Credit (ERC) claims, the IRS has issued five new FAQs to…
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