Month: August 2020

A new report from the IRS Small Business/Self Employed Division reveals that in Fiscal Year 2019 the division devoted attention to the agency-wide issue of non-filers and fraud. The report, a 28-page overview billed as annual from now on, focuses on program highlights, priorities and accomplishments of the SB/SE organization and its employees. SB/SE services
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Key Findings The fiscal responses to the COVID-19 pandemic will require policymakers to consider what revenue resources should be used to fill budget gaps. Tax policy experts have proposed wealth taxes, (global) corporate minimum taxes, excess profits taxes, and digital taxes as opportunities for governments to raise new revenues. Instead of designing novel taxes, however,
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While the concept of virtual firms and remote teams has been around for a number of years, many accounting firms have struggled to make the change in their business model for a number of reasons. Over the last few months, a number of accounting firms have had to make the transition to working virtually and
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Almost one-third of one country’s workforce is currently suffering from lockdown lethargy. A new survey of UK employees found 34% suffering from a lull in production brought on by weariness caused by the COVID-19 pandemic response. While this survey looked at British employees, we presume the feeling is likely mutual in the US. However, it
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seksan Mongkhonkhamsao Americans should be wary of fraud as Washington lawmakers debate the contours of another round of potential financial relief, according to an alert issued Tuesday by the Federal Trade Commission. Consumers should be cautious of solicitations asking them to pay for access to certain financial assistance, like stimulus checks and job opportunities, according
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Key Findings The Low-Income Housing Tax Credit (LIHTC) offers developers nonrefundable and transferable tax credits to subsidize the construction and rehabilitation of housing developments that have strict income limits for eligible tenants and their cost of housing. The LIHTC has subsidized over 3 million housing units since it was established in 1986, the largest source
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A man from St. Simons Island, Georgia has been indicted for threatening to use a pipe bomb on an Internal Revenue Service building in New York. Benjamin Stasko, 32, was charged Friday by federal prosecutors with willful threat to kill using firearms or explosives, and interstate transmission of a threat to injure. The online threat
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A stack of Starlink internet satellites just before a launch. SpaceX SpaceX is manufacturing its Starlink satellites at an unprecedented rate for the space industry, analysts say, as the company dives headlong into building a space-based global internet service. Elon Musk’s company told the Federal Communications Commission in a presentation last month that its  Starlink unit
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President Donald Trump announced four executive actions on Saturday, including a temporary payroll tax deferral for some workers and continued expanded unemployment benefits, as the coronavirus pandemic continues to hobble the U.S. economy. The moves were criticized by Democrats and some Republicans as, variously, providing little real help, an unconstitutional power grab from Congress, and
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Mohamed El-Erian told CNBC on Monday that he considers a wave of corporate bankruptcies as the biggest risk to the stock market’s rally from coronavirus-era lows.  “I think what derails this market isn’t more China-U.S. tension, isn’t more political differences. It would be if we get then large-scale bankruptcies,” the chief economic advisor at Allianz said on “Squawk
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Parents are forming learning pods for their children to supplement virtual learning this fall. Source: Outschool The latest education trend has parents reaching into their wallets to help supplement or replace their children’s virtual education this fall. So-called “learning pods” or “pandemic pods” are popping up all over the country. They are small, in-person groups
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Last month I posted reviews of two practice management books and highly recommended them. Today I want to review a marketing book that mentions nothing about accounting practice management. You might wonder why I am reading such a book. Well, I have a few reasons. I know the author and wanted to do him the
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