Shell of a way to work; RICO rip-off; fun with refunds; and other highlights of recent tax cases.
Day: November 16, 2023
AICPA adopts revised tax standards
AICPA members should be aware that the AICPA has adopted revised Statements on Standards for Tax Services (SSTSs). The new standards are effective Jan. 1, 2024.
Billionaires donating more to their own giving vehicles
The ultra-wealthy are using DAFs and private foundations to avoid taxes and exert influence, at the expense of ordinary taxpayers.
IRS will receive 30M more 1099-Ks
Thanks to the lower threshold, the service expects to receive about 44 million 1099-Ks in 2024, up from about 14 million.
PCAOB fines doubled in recent years
The board voted to approve a new budget for fiscal 2024, and revealed it surpassed last year’s record amount of fines.
Plante Moran’s new MP looks ahead to $2B
Jason Drake will be taking the helm next July and hopes to grow it into a $2 billion firm.