The Committee for a Responsible Federal Budget estimated much of the cost would come from extending the 2017 tax cuts for individuals and small business owners.
Day: February 7, 2025
BOI penalties increase while reporting rules remain on hold
The Financial Crimes Enforcement Network list includes inflation-adjusted amounts for the civil monetary penalties for violating beneficial ownership information reporting rules.
Cybersecurity best practices for tax season
CPAs handle an influx of sensitive financial information and personal information during tax season, making them an attractive target for cybercriminals.
Job growth slows, with just 600 accounting jobs in January
Employers added 143,000 jobs last month, including 600 in accounting, tax preparation and payroll services, the Bureau of Labor Statistics reported.
Bessent says DOGE isn’t altering Treasury systems
Bessent said the Internal Revenue Service would be largely spared from DOGE’s cost-cutting — at least until after the April 15 filing deadline.
How will you respond when AI agents reshape your firm’s business model?
While AI agents are not quite ready for prime time, they are here and slowly but surely changing the accounting profession.