A senate hearing; lack of Unity; that ain’t chicken feed; and other highlights of recent tax cases.
Day: October 10, 2024
Lawmakers urge IRS Direct File to loosen ID requirements
A group of lawmakers has urged the IRS to drop the mandate to follow stringent ID.me standards.
IRS sees tax gap growing
The gap between taxes owed and paid increased to $696 billion in tax year 2022.
GASB mulls changes in accounting for infrastructure assets
The Governmental Accounting Standards Board is considering changes in the financial reporting rules for infrastructure assets and is looking for feedback.
Tax breaks spur foreign direct investment in Midwest manufacturing
While the potential rewards are attractive, for many of the small to midsized players, there are a host of operational and tax-related implications that need to be addressed.