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January 26, 2022

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IRS Child Tax Credit letters may have wrong information

By Michael Cohn       7 min read

The letters that the Internal Revenue Service has been sending to taxpayers about the amounts they received on advance payments of the Child Tax Credit may have outdated information. View story →

When can a startup start deducting expenses?

By Roger Russell       3 min read

A Tax Court case illustrates the complexity of deciding when, exactly, a business becomes a good concern in the eyes of the IRS. View story →

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IRS Child Tax Credit letters may have wrong information →

The letters that the Internal Revenue Service has been sending to taxpayers about the amounts they received on advance payments of the Child Tax Credit may have outdated information.

KPMG U.S. announces $160M increase in salaries

By Sean McCabe       1 min read

The Big Four firm announced salary bumps for approximately 30,000 employees. View story →

Wealthy tax return filer? Silver lining graces challenging IRS season

By Lynnley Browning       5 min read

Gift tax returns and the wealth transfer strategies they reflect don’t face the same IRS logjams as individual returns.  View story →

Tokens, transactions and taxes

By Brian Mistler, Thomas Shea       7 min read

A practical guide to the world of DeFi for liquidity providers. View story →

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In the blogs: How about a hug?

By Jeff Stimpson       3 min read

Minute by minute; variations in the standard; new kid on the blog; and other highlights from our favorite tax bloggers. View story →

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Audit committees see responsibilities growing

By Michael Cohn       3 min read

The to-do list for corporate audit committees keeps expanding, with members taking on new responsibilities in overseeing cybersecurity, ethics and risk management, according to a new poll. View story →

MicroStrategy’s slide accelerates after SEC accounting ruling

By Crystal Kim       2 min read

The slide extended to a second day as investors reassessed the company’s Bitcoin buying strategy.  View story →

Schellman acquires Scott Perry CPA firm

By Michael Cohn       3 min read

Schellman & Co., a Top 100 Firm based in Tampa, Florida, is expanding its cryptocurrency audit services by acquiring the firm of Scott S. Perry, CPA PLLC, based in Bellevue, Washington. View story →

VSCPA expands mental health offerings for members

By Sean McCabe       1 min read

The Virginia Society of CPAs is offering local professionals additional self-care resources ahead of a third pandemic-related tax season. View story →

Biden administration relaunches CTC website

By Michael Cohn       2 min read

A revamped version of the ChildTaxCredit.gov site adds new features to help with filing taxes and accessing the full amount of unpaid credits. Read story →

IRS kicks off challenging tax season

By Michael Cohn       5 min read

The service faces a backlog of millions of unprocessed tax returns, and warned taxpayers and preparers to be patient. Read story →

Art of Accounting: Get started with a strategic plan

By Edward Mendlowitz       2 min read

Growth can come without the plan, but that is settling for less than you might be capable of or destined for.  Read story →

MicroStrategy plummets as SEC rejects its Bitcoin accounting

By Nicola M. White       3 min read

The company can’t strip out the cryptocurrency's wild swings from the unofficial accounting measures it touts to investors, the commission said. Read story →

Billionaire asks judge to lift $1.4B tax levy

By David Voreacos and Neil Weinberg       2 min read

Robert Brockman, who is charged with the largest criminal tax-evasion case by an individual in the U.S., asked a judge to lift an IRS 'jeopardy assessment.' Read story →

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