IRS business tax accounts and tax pro accounts may fall prey to budget cuts
Accounting Today
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The Internal Revenue Service's development of its newly introduced business tax accounts and recent improvements in its tax pro accounts could be jeopardized if funding is cut, and more of today’s top stories.
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The House voted Thursday to provide $14.3 billion in aid to Israel in its war against Hamas. The bill is mainly paid for with cuts to the nearly $800 billion in funding that the IRS received under last year's Inflation Reduction Act.?
In other news today:
The Top 30 Firm is expanding its presence in the New York area, the latest in a series of deals after receiving private equity funding.
Officials from the Criminal Investigation division met with tax officials from four other countries to uncover tax evasion and money laundering schemes through data mining.
A recent poll of finance leaders has found that the majority of organizations now use AI in at least some of their financial reporting process.
The longtime leader of the National Association of State Boards of Accountancy plans to retire at the end of July.
"The accountants worked on it," the eldest son of former president Donald Trump testified in a Manhattan courtroom. "That's what we paid them for."