February 3, 2022
Ledgible, a professional platform for tax and accounting of crypto assets, has announced upcoming reporting options for staking rewards in light of the recent announcement concerning the lawsuit against the IRS over staking rewards, released by the Proof of Stake Alliance (POSA). “As there still remains differing positions around how staking rewards are taxed, Ledgible...…
February 1, 2022
In 2021, the median fraud loss reported to the NCL Fraud.org campaign hit a 10-year high of $800, according to the organization’s annual Top Ten Scams Report.
January 31, 2022
Tax professionals need to account for shifting cybersecurity risks before a frenzied tax season captures their time and attention. Here are three cybersecurity trends that CPAs and accounting firms must address this tax season.
January 27, 2022
One of the biggest challenges for crypto holders and tax professionals is to account, track, and manage all the crypto data across multiple wallets and exchanges to calculate gains/losses and income. Holders do not receive monthly statements and this ...
January 26, 2022
Sales transactions are presumed taxable in states with a sales tax (unless there’s a specific exemption or exclusion), most states haven’t yet clarified which sales tax laws apply to sales made in the metaverse. When will they start?
January 19, 2022
State of Community Banking reveals the story of a financial services segment bucking macro trends; community banks are maintaining their physical banking locations. In fact, 84% of respondents haven’t closed a single branch in the past 12 months – and ...
January 8, 2022
The IRS Criminal Investigation division began counting down the top 10 cases for calendar year 2021 on its Twitter account on Jan. 3. These cases include the agency’s most prominent and high-profile investigations of 2021.
January 6, 2022
Cryptocurrency is becoming increasingly popular as a payment method and investment opportunity, which means CPAs will be dealing with this technology more frequently. CPAs must become cryptocurrency experts to protect their clients’ assets and ensure ...
December 17, 2021
Accounting professionals’ use of technology reflects their role as trusted advisors to businesses, nonprofits and individuals. For many years they have been using and applying advanced technology such as artificial intelligence and technology-enabled ...
December 13, 2021
Duff & Phelps, A Kroll Business, the world’s premier provider of valuation, corporate finance, governance, risk and transparency, announced that Philippe Penelle has joined as a managing director based in Los Angeles, California. Penelle leverages over two decades of experience designing, valuing and defending transfer pricing structures on behalf of multinational clients and their counsel....…
December 10, 2021
Advances in technology, the pandemic-related shift to a fully digital workplace and rapidly evolving business models are creating huge opportunities for CPA firms – provided they take the necessary steps to stay ahead of the curve, said Erik Asgeirsson.
December 10, 2021
Most taxpayers are uninformed when it comes to the potential tax consequences surrounding crypto. Surveys show that there are over 50 million taxpayers who need to report crypto when filing 2021 tax returns. Any taxpayer who can answer 'YES' to the IRS...