Accounting June 28, 2025
Nominations Open for 2025 Innovation Awards
The Innovation Awards highlight technologies that are shaping the profession and small businesses through increased collaboration and productivity.
Taxes June 4, 2025
Trump’s Tax Bill Would Add $2.4 Trillion to the Deficit, CBO Analysis Finds
If President Donald Trump’s “big, beautiful bill” passes, taxes will be cut by roughly $3.75 trillion but it will add $2.4 trillion to the overall deficit over the next decade, according to a new report from the Congressional Budget Office.
Taxes June 4, 2025
GOP Leaders Push Back on Musk ‘Abomination’ Criticism of Trump Tax Bill
Republican congressional leaders pushed back Wednesday on Elon Musk’s harsh criticism of President Trump’s signature budget bill as a fiscally dangerous “disgusting abomination.”
Taxes June 4, 2025
Nuclear Projects Would Have ‘Collapsed’ Without Tax Credits, Fleischmann Says
The House kept some tax credit incentives for new nuclear projects in its tax break and immigration megabill because the industry would die out without them, said U.S. Rep. Chuck Fleischmann (R-TN).
Taxes June 4, 2025
No State Tax is Why the Florida Panthers Are Succeeding? Not Exactly, GM Says
There has been a lot of talk in hockey circles recently how a select group of teams possibly have an upper hand in the NHL because they play in states without an income tax.
Taxes June 4, 2025
IRS Commissioner Nominee Advances to Senate Floor
The Senate Finance Committee voted along party lines on June 3 to approve President Donald Trump’s nomination of former Missouri Rep. Billy Long to lead the IRS over the objections of Democrats.
Taxes June 3, 2025
Senate Faces Delicate Balancing Act on Reconciliation Tax Package
It's not clear yet how extensive the changes to the House's nearly $4 trillion tax package will be, but lawmakers and interest groups see plenty of opportunities for tweaks to suit their needs.
Taxes June 3, 2025
IRS Calls 2025 Tax Season ‘Successful’ Despite Staff Cuts, Revolving Door of Leaders
The IRS completed a "successful 2025 filing season" with 87% of taxpayer phone calls answered by customer service representatives and average wait times of three minutes, the agency said last week, despite workforce reductions and leadership changes that have put the IRS at times in a state of turmoil.
Taxes June 3, 2025
Elon Musk Goes Off Again on Trump’s Big, Beautiful ‘Pork-Filled’ Bill
Tech entrepreneur Elon Musk unleashed on President Donald Trump’s “big, beautiful bill” on June 3, marking the second time in a week that the former presidential advisor broke with the president.
Taxes June 3, 2025
Estate Tax Repeal Pending in Congress Raises Debate Over Charity, Wealth Gap
A proposed repeal of the federal estate tax has advocates arguing about whether it would be a long-overdue fix for small business owners and farmers, or an unnecessary move widening the gap between the haves and have-nots even further.
Small Business June 2, 2025
Xero and Tallyfor Integrate to Streamline Business Tax Preparation
To enable accounting partners to experience these powerful benefits firsthand, Xero is offering 12 months of complimentary access to Tallyfor’s tax workflow tool.
Taxes June 2, 2025
Santucci’s Pizza Owner Pleads Guilty to Tax Evasion, Hiding $4.8 Million in Income From IRS
Frank Santucci Sr., owner of Santucci’s Original Square Pizza, agreed to plead to two counts of tax evasion and two counts of filing false tax returns for failing to pay nearly $375,000 in taxes, federal court records show.
Taxes May 30, 2025
Tariff Ruling Threatens a $2 Trillion Fiscal Hole in Trump Plan
The court ruling that blocked much of President Donald Trump’s sweeping tariffs threatens to blow what some economists estimate as a $2 trillion hole into the U.S. fiscal outlook over the coming decade.