News

John Wesley Cromwell Jr. was the United States' first Black CPA, earning his designation in 1921. Continue Reading

Whether it’s a side business or a primary source of income, all taxpayers must report gig economy income on their tax return. Continue Reading

The COVID-19 pandemic caused 2020 to shape up as one of the most difficult years ever for taxpayers and tax practitioners alike. Here are some strategies and best practices that practitioners should keep in mind when requesting penalty abatement from the IRS on behalf of clients. Continue Reading

To properly respond to business challenges during the pandemic, multinational enterprises should reevaluate transfer-pricing strategies, especially application of the arm's-length standard. Continue Reading

Here are some facts about the IRS Free File programs, to help taxpayers determine which program fits their needs. Continue Reading

This week's topics: Taxpayer finds no relief from FBAR penalties; Tax Court outlines when it will allow a taxpayer to argue substance over form; IRS warns about a phishing scam aimed at tax professionals. Continue Reading

The IRS reminds taxpayers who don't qualify for the child tax credit that they may be able to claim the credit for other dependents. Continue Reading

This year, taxpayers can choose between two sets of regulations when investing in qualified opportunity funds. Continue Reading

The IRS urged taxpayers to take some simple steps to help ensure they file accurate tax returns and speed their tax refunds to avoid a variety of pandemic-related issues. Continue Reading

The IRS urges all taxpayers to file electronically and choose direct deposit to get their refund faster and avoid pandemic-related paper delays. Continue Reading