The OZ program allows investors to defer capital gains from sales of appreciated real estate, stocks, businesses, personal residences, collectibles and even crypto through 2026.
Category: NYT Accounting News
Springline Advisory looks to expand
Springline Advisory, a private equity-funded firm, is growing by bringing in accounting firms.
New BOI guidance issued for short-lived entities and foreign cos.
Understanding these updates is critical in guiding the tens of millions of LLCs, closely held businesses, and other small-business clients through the complexities of beneficial ownership compliance.
In the blogs: Nothing but trouble
Tax targets; getting creative; one SALT workaround; and other highlights from our favorite tax bloggers.
M&A roundup: Landmark, Forvis Mazars expand
Landmark CPAs merges in Garland & Greenwood CPAs; and Forvis Mazars completes acquisition of ConTech360.
Ireland to decide how to use Apple’s €13B it didn’t want
Ireland just landed a challenge most countries would envy: how to spend an almost €13.8 billion ($15.2 billion) windfall that Apple Inc. was ordered to pay in taxes by the European Union’s top court.
FBAR penalties: ‘Grossly disproportionate’
The Eleventh Circuit splits with the First Circuit and reduces an FBAR penalty under the Constitution’s Excessive Fines Clause.
Audit teams missed risks of material misstatement by banks
The Public Company Accounting Oversight Board staff released a report Monday on last year’s banking crisis.
SEC approves PCAOB quality control standard
The SEC approved the PCAOB’s QC 1000, which will require firms to identify risks to their practice and design quality control systems that can safeguard against those risks.
IRS urged to take action on diversity in upper ranks
The Internal Revenue Service is more diverse than many workplaces, but more can be done, especially in the upper echelons, according to a new report.