tax Archive
San Fran Businesses Threaten Tax Strike If Homeless Population Is Not Removed
September 1, 2022
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TweetShareSharePin0 Shares Businesses in a trendy San Francisco neighborhood are threatening a tax strike if homeless people are not removed from the area. The Castro Merchants Association, which describes itself as “a nonprofit association of businesses – large and small – that make the San Francisco’s iconic Castro district one of the world’s top destinations for
Missouri Income Tax Reform: Details & Analysis
August 31, 2022
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TweetShareSharePin0 Shares Gov. Mike Parson (R) has called the Missouri legislature into a special session beginning September 6th, with the goal of reducing the individual income tax from 5.4 percent to 4.8 percent and raising the standard deduction. An income tax reduction is a competitive move, especially in a rapidly changing tax landscape, but the
IRS Criminal Investigation in the News
August 31, 2022
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Last week in The Fear of Funding I discussed the blowback on the Inflation Reduction Act and its funding for the IRS. Writing about the often byzantine world of tax procedure and tax administration
Divisive DeSantis Promises Largest Tax Cuts In Florida History
August 31, 2022
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TweetShareSharePin0 Shares Divisive Florida Governor Ron DeSantis has promised residents of the Sunshine State the largest tax cuts in state history if he is re-elected in November. DeSantis — who has close ties to Donald Trump’s newly-hired attorney Chris Kimes — faces opponent Charlie Crist, a former Republic now running on the Democratic ticket, in
JP Morgan Office Raided as Part of Tax Fraud Probe
August 31, 2022
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TweetShareSharePin0 Shares Finance giant JP Morgan Chase has confirmed the company’s Frankfurt office was raided as part of a tax fraud probe. Financial Times reported that company spokespeople for the U.S.-based bank stated the office was “visited” by Cologne prosecutors, and that they are continuing to co-operate with the investigation. The outlet also shared that
Google Develops AI Technology That Leads to Discovery of Property Tax Evaders
August 30, 2022
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TweetShareSharePin0 Shares French authorities have used AI technology to discover over 20,000 undeclared swimming pools throughout the country, revealing millions of Euros in lost tax revenue in the process. Per French law, pools must be declared to local governments because they typically boost property value, meaning homeowners must pay higher taxes. According to a BBC
Top 5 Veterinarian Tax Deductions
August 30, 2022
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TweetShareSharePin0 Shares The world of veterinary medicine is unique. Every day, vets and vet techs treat some of their clients’ most beloved family members – their pets! Working in this field is not just a job, but a passion. No matter how much they love the animals they care for, even the most passionate veterinarians
Congress Could End Tax Breaks for Gifts to Non-Profits with Political Agendas
August 29, 2022
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TweetShareSharePin0 Shares The New York Times reported that Chicago businessman Barre Seid donated his entire business, tax free, to the Marble Freedom Trust, a tax-exempt advocacy organization run by conservative activist Leonard Leo. A few months later, the Trust sold the stock for more than $1.6 billion. And now it can use the tax savings
AICPA recommends changing cryptoasset question
August 29, 2022
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TweetShareSharePin0 Shares The AICPA submitted comments and recommendations to the IRS Monday regarding further guidance on the tax treatment of cryptoassets and the question about them that individual income tax returns now carry. The letter, signed by Jan Lewis, CPA, chair of the AICPA Tax Executive Committee, to IRS Commissioner Charles Rettig and Principal Deputy
Proposed revisions to the AICPA tax standards
August 29, 2022
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TweetShareSharePin0 Shares The AICPA released proposed revisions to the Statements on Standards for Tax Services (SSTSs) for public comment on Monday. The combined document includes revisions to the existing standards, three new standards, and an invitation to comment on the subject of quality management in tax. The SSTSs are the enforceable tax ethical standards that
