Recent Articles
In his budget plan for 2024, Biden wants to bring back payments for the child tax credit.
President wants to reinstate $300 monthly payments to families with children, but there will probably be opposition to the idea. According to President Joe Biden’s budget proposal for 2024, $300 monthly payments to families with children—which are widely acknowledged to...
Biden Takes Action to Protect All Silicon Valley Bank Deposits.
On Monday, the president stated that his objective is to safeguard American workers and small businesses, not bank investors. On Monday, President Biden promised to take extra measures to secure the country banking system and to guarantee that account holders...
The IRS boosts capabilities for digital scanning.
As part of its brand-new Digital Intake initiative, the IRS has scanned more than 120,000 paper forms 940 since the beginning of the year. Since the beginning of the year, the IRS has scanned more than 120,000 paper forms 940,...
Rules for deducting mortgage interest are tightened by the tax court.
The new case includes a complicated series of exchanges where three siblings intermixed their business and individual interests. Can mortgage interest on a home you own be deducted? The rules have been tightened by recent tax laws, but expert borrowers...
AICPA Comments on Changes to Section 162(m) of the American Rescue Plan Act of 2021.
Beginning in 2027, Current Law Cover Employees and the following five highest-paid employees will include in a public company’s cover employees for the calendar year. The American Institute of CPAs (AICPA) has provided reviews to the Department of the Treasury...
Tax Season’s Best Practices to Avoid Identity Fraud – 2023
Tax preparers and filers must work together to secure their data and financial resources in order to combat identity theft and cybercrime. Every year, tax season is stressful. Tax preparers are inundated by frantic clients who want to assist them...