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 July 28, 2025
IRS Issues Interim Guidance to Streamline LB&I Audit Process
A new IRS memorandum highlights changes aimed at reducing examination times for large corporations while making the audit process more customer-driven, consistent, and efficient.
Firm Management July 28, 2025
KPMG Hires Ex-IRS Acting Commissioner Douglas O’Donnell
O'Donnell, who served two separate stints as acting chief of the IRS before leaving the agency in February, has joined KPMG as a senior managing director within its Washington National Tax practice.
Sales Tax July 28, 2025
Sales Tax Rates and Rules Changes Skyrocket Across States in 2025, Says Vertex Report
In the first half of 2025, states made 408 sales tax rate changes and new rates – a 24% increase compared to the first half of 2024.
State and Local Taxes July 28, 2025
One Tax Change in Trump’s ‘Big Beautiful Bill’ That Even Illinois Gov. JB Pritzker Supports
The budget reconciliation plan Republicans pushed through Congress this summer includes a tax change that Democrats as well as some Republicans in high-tax blue states have backed for years.
Taxes July 28, 2025
In Las Vegas, House Republicans Take Victory Lap on ‘No Tax on Tips’ Policy
"No tax on tips" took center stage on July 25 during a visit from the House Ways and Means Committee to Las Vegas to promote President Donald Trump's One Big Beautiful Bill Act.
Taxes July 28, 2025
4 Rich Colleges Dodged a Big Trump Tax—and May Have an Unlikely Ally to Thank
Four small wealthy and elite private colleges in Massachusetts may have a conservative college in the Midwest in part to thank for escaping a hike in an endowment tax under President Donald Trump’s tax law.
Taxes July 28, 2025
Trump Says Surprise Rebate Checks Could be Coming Thanks to Tariff Revenue
President Donald Trump on July 25 said that he’s considering issuing rebate checks to Americans that would be paid out of the revenue generated by increased tariffs on other countries
Taxes July 25, 2025
Advanced Section 1202 (QSBS) Planning for S Corporations
Section 1202 provides for a substantial exclusion of gain from federal income taxes when stockholders sell qualified small business stock (QSBS).
Taxes July 25, 2025
IRS Sets July 29 Deadline to Revalidate Business Tax Account Access
Business Tax Account designated officials must revalidate their accounts by July 29 in order to maintain access, the IRS said on Wednesday.
Small Business July 25, 2025
Some Small Business Owners Sweating Impact Trump Tax Law Will Have on Their Bottom Line
Business owners have shared concerns about cuts to Medicaid and other health care programs, while the U.S. Chamber has praised the new law as pro-growth.
Taxes July 25, 2025
Trump’s Big Bill Boosts Micron’s Tax Break for Chip Plants by About $5 Billion
The bill increases an existing investment tax credit from 25% to 35% for semiconductor manufacturers who build new plants in the United States.
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Taxes July 25, 2025
Bloomberg Tax & Accounting Adds Enhanced AI Assistant Features
This chat-based research tool is designed to streamline and speed up tax and accounting research, making the process more efficient and user-friendly.