U.S. states fund most of their road and infrastructure budgets with revenues from gasoline taxes. The historical rationale behind this is intuitive. The more people use public roads, the more gasoline they consume, making the gas taxA gas tax is commonly used to describe the variety of taxes levied on gasoline at both the federal...Read More

The IRS is using AI to check for tax evasion by large partnerships. IRS Commissioner Danny Werfel announced the agency will begin examining 75 of the nation’s biggest partnerships, which have an average of $10 billion in assets. These partnerships, identified with the help of artificial intelligence (AI), include hedge funds, real estate investment partnerships,...Read More

We all have important documents. From the title to your car or house to birth certificates, Social Security cards, and tax returns. We have to protect those important records and documents. You want to make sure that you can access these records when you need them, but you also need to make sure they are...Read More

Tax provisions, corporate alternative minimum tax, and more. Jump to: Each tax season, business clients turn to their accountant for assistance in navigating corporation tax depreciation and leveraging every tax deduction they can take to minimize their tax liability. With tax obligations on the rise, your role as a trusted advisor is bound to grow...Read More

Students are ready for the new year. getty Today was the first day of school for my son. His schedule was packed with math, foreign languages, English, science—but not economics or financial literacy. Many schools don’t offer those kinds of classes. Just about half of states require either a personal finance or economics course to...Read More

Former President Donald Trump’s proposed 10 percent tariff would raise taxes on American consumers by more than $300 billion a year—a tax increase rivaling the ones proposed by President Biden. If implemented, the significant trade tax hike would trigger retaliatory tax increases on U.S. exports. International trade is vital to the United States. Each year,...Read More

Treasury proposes new cryptocurrency reporting rules. Treasury has proposed guidelines for entities “in a position to know” the identities of the parties involved in digital asset transactions. These designated brokers would have to report information on their users’ sales and exchanges of digital assets to the IRS, similar to information returns submitted by more traditional...Read More

If you are planning to study abroad this fall, you have a year of wonderful experiences and adventures ahead of you and, hopefully, a little studying as well. Many students also will be earning a stipend or may have employment while they are abroad, in addition to getting an education. No matter what your circumstances,...Read More

If your accounting firm is competing in the battle for top talent, you’re not alone. But how do you effectively attract and retain accountants in such a challenging labor market? Thomson Reuters set out to answer that question by surveying more than 100 CPAs who are currently employed as accountants. The results show that tax...Read More

Internal Revenue Service federal building Washington DC USA Getty The IRS is clearly serious about moving its Strategic Operating Plan forward. The plan, which was released in April, has been described by the agency as an “ambitious effort to transform the tax agency and dramatically improve service to taxpayers and the nation during the next...Read More