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Survey: Below 1% of Small and Midsize Firms Can Find Enough Staff Domestically
Trusted Professional
Nearly all small- to medium-sized CPA firms cannot find adequate domestic staff, leading them to consider other hiring…
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IRS to Move to Paperless Processing by 2025
Taxation
The IRS will achieve paperless processing for all tax returns by filing season 2025, through a new "Paperless Processing…
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Supreme Court to Hear Case on Constitutionality of Mandatory Repatriation Tax
Taxation
A case currently before the U.S. Supreme Court could be the most important tax case in decades, as it concerns Congress’s…
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IRS Rules That Crypto Staking Rewards Should Be Included in Gross Income
Taxation
A new revenue ruling from the IRS addresses an issue pertaining to crypto staking taxation. According to Coindesk.com,…
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Mastercard to End Debit Card Use for Cannabis Purchases
Trusted Professional
Mastercard is ending the use of its debit cards to purchase cannabis, The New York Times reported. The company said that…
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Survey: 60% of Consumers Use Technology Tools Before Consulting Financial Professionals
Trusted Professional
Sixty percent of financial technology users seek advice from fintech solutions before consulting their accountant or…
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House Oversight Subcommittee Hears About Employee Retention Credit Problems
Taxation
The U.S. House of Representatives’ Committee on Ways and Means’ Subcommittee on Oversight recently held a hearing on the…
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Regulatory Roundup: July 25-31
Regulatory Roundup
AICPA AICPA & CIMA launch new climate resilience accounting resourceJuly 23, 2023 CIMA partners with ICAZ to elevate the…
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GAO: IRS Can Use New Funding to Audit More Large Partnerships
Auditing
The IRS audits few large partnerships, and it can use the extra funding provided by the Inflation Reduction Act to…
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