Featured News
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IRS partnership to improve contracting processes
The IRS has announced a new partnership with an analytics consulting firm along with academic researchers to improve the agency’s procurement operations.
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UBTI computation for separate businesses
Final IRS regulations discuss how an exempt organization calculates unrelated business taxable income if it has more than one unrelated trade or business.
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Annual IRS report identifies $2.3B in tax fraud
In its annual report, the IRS’ Criminal Investigation division identified $2.3 billion in tax fraud for fiscal year 2020.
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Centralized partnership audit regime changes proposed
The IRS has proposed new guidance on when the new centralized partnership audit regime does not apply to certain partnership-related items.
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Preventing screen-based headaches
Individuals can prevent screen-based headaches by paying careful attention to their habits while on their computers, phones and tablets.
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Concerns raised about PPP Loan Necessity Questionnaires
The AICPA is among 82 organizations that have signed onto a pair of letters expressing concerns about the new Paycheck Protection Program Loan Necessity Questionnaires.
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CPA Exam gets a refresh
The AICPA is refreshing the CPA Exam to emphasize business processes and data analytics as a result of a comprehensive practice analysis.
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IRS Advisory Council issues 2020 annual report
The Internal Revenue Service Advisory Council has issued its annual report for 2020, including recommendations to the IRS on new and continuing issues in tax administration.
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IRS won’t provide ‘blanket’ penalty relief
The IRS will not provide “blanket” relief from tax penalties incurred during the COVID-19 pandemic, the IRS commissioner recently stated.
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IRS clarifies rules for PPP deductions
The IRS has released new guidance that clarifies the rules for deducting expenses paid with PPP funds.