Black Taxpayers Audited at 2.9 - 4.7 Times the Rate of non-Black Txpayers
Steel Rose
IRS algorithms in determining tax returns to audit, enforcement policy, and resource constraints result in significant racial disparity in returns chosen for a tax audit. A comprehensive study conducted by economists from Stanford University, the University of Michigan, the University of Chicago, and the Treasury Department resulted in a detailed report...
MOREAccountants United for the Food Bank For New York City
Established in 1983, the Food Bank For New York City (“the Food Bank”) has been working to end food poverty in the…
Social Media Posts About Lifestyle Considered "Newly Discovered" by Tax Court
Thomas v. Comm'r, 160 T.C. No. 4| February 13, 2023 | Toro, J. | Dkt. No. 12982-20 Summary: This is a…
ChatGPT: Opportunity and Risk for the Accounting Profession
ChatGPT is a chatbot that’s been making headlines. Developed by OpenAI, it is a sophisticated machine learning model designed to…
7 More States Considering New Surtaxes on Their Wealthiest Residents
The “Millionaire” Tax in Massachusetts went into effect on January 1, and less than a month into the New Year…
Cryptocurrency Taxes: Beware Of Crypto Losses And The IRS's Position
Following the demise of the cryptocurrency exchange platform FTX, many taxpayers are studying how they can harvest tax losses associated with…
CPA's Challenging Environment for Tax Season & Technology
Professional accountants continued to deal with practice-related, economic, social, and tax law changes resulting from the global pandemic during the…
CPA Guilty of Conspiring to Promote Fraudulent Tax Shelter Scheme
Helped Obtain Fraudulent Syndicated Conservation Easement Tax Breaks for High-Income Earners A Florida CPA pleaded guilty in the District of New…
An Industry Spotlight on Philanthropy: Uniting the Accounting Profession Together as ONE to END ALZ
The Alzheimer’s Association Accounting Industry Leadership Council (hereinafter the “Council”) was established in January of 2020, immediately before the COVID-19…
Key Tax Moves for 2023
Consider ways to help reduce taxes on your income and investments by acting now. Wider tax brackets, a higher standard deduction…
