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Preparers Confront a Particularly Challenging Tax Season
Taxation
Because of a host of expiring tax provisions, preparers and their clients are reporting that this tax season is a source of…
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In Initial Trading, Markets Fall and Oil Prices Rise in Response to Russian Invasion of Ukraine
Trusted Professional
In early trading Thursday, markets fell and the prices of oil, gold and government bonds rose, in response to Russia’s…
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IRS Announces Increased Interest Rates for Second Quarter of 2022
Taxation
The IRS announced that it will increase interest rates for the second quarter of 2022, beginning April 1. The rates will be…
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GOP Senator Calls for All Americans to Pay Federal Income Tax, Even Lowest Earners
Taxation
Sen. Rick Scott (R-Fla.) released a plan that would require all Americans to pay some federal income tax, even if it is a…
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Members of Congress Seek to End Tax Breaks for Pro Teams Building New Stadiums
Trusted Professional
Three members of Congress have introduced a bill that would put a halt to a subsidy benefiting professional sports…
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Regulatory Roundup - Feb. 15-22
Trusted Professional
CBO Cost Estimate S. 2852, Long-Term Care Veterans Choice Act February 18, 2022 As ordered reported by the Senate…
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IRS Warns of New Scams Aimed at Tax Professionals
Taxation
The IRS has issued a warning about new email phishing scams that seek to steal tax software preparation credentials. Tax…
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Report: SEC Accounting Enforcement Plummeted in 2021, While PCAOB Enforcement Rose
Auditing
The Securities and Exchange Commission (SEC) initiated 34 enforcement actions involving accounting or auditing allegations in…
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IRS Expands Section on Virtual Currency in Voluntary Disclosure Form for Those Seeking to Come Clean About Past Evasion
Trusted Professional
The IRS has announced a revision to Form 14457, Voluntary Disclosure Practice Preclearance Request and Application. This…
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