— On the final day of National Tax Security Awareness Week, the Internal Revenue Service and its Security Summit partners urged tax professionals to reassess their plans for protecting themselves and their clients’ sensitive information amid increasing attempts by identity thieves to steal tax data.
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— The Internal Revenue Service Criminal Investigation (IRS-CI) released its Fiscal Year 2024 (FY24) Annual Report today that details significant cases involving crimes ranging from tax fraud to cybercrime, enhanced domestic and foreign partnerships and investigative statistics from FY24 that took place from Oct. 1, 2023, to Sept. 30, 2024.
— Because identity thieves target the financial data of businesses and the self-employed using new schemes, the Internal Revenue Service and the Security Summit partners today urged companies and individual taxpayers to review and update their security measures and practices to guard against the latest scams.
— The Internal Revenue Service is accepting applications for the Electronic Tax Administration Advisory Committee (ETAAC) through Jan. 31, 2025.
— The Internal Revenue Service today warned taxpayers to avoid promoters of fraudulent tax schemes involving donations of ownership interests in closely held businesses, sometimes marketed as “Charitable LLCs.”
— The Internal Revenue Service and the Security Summit partners today encouraged taxpayers to add an extra layer of protection between their tax returns and identity thieves by joining the Identity protection personal identification number (IP PIN) program at the start of the 2025 tax season.
— The Internal Revenue Service and the Security Summit partners issued a consumer alert today about the growing threat of bad tax advice on social media that continues to dupe people into filing inaccurate tax returns.
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Finding the Corporate Transparency Act “likely unconstitutional,” a federal district court prohibited its enforcement and the enforcement of its accompanying regulations.
Nearly three in eight businesses in a poll said they were waiting until the end of the year to file beneficial ownership information reports.
The IRS issued regulations that finalize proposed regulations issued in 2013. The guidance is focused on when and to what extent a partner is treated as bearing the economic risk of loss and the special rules applying to a partner related to another partner.
Shareholders’ “looting” of the company did not create a second class of stock, the Tax Court held.
The Tax Court disallows a taxpayer’s claimed expense deductions.
The decision reaffirms the relevance of Skidmore v. Swift & Co., which established Skidmore deference as an approach to judicial review of agency interpretations.
Final regs. issued on consistent-basis and basis-reporting rules ... Corporate AMT proposed regulations issued; some penalties waived ... IRS seeks comments on SECURE 2.0 saver’s match contributions ... Fact sheet addresses taxability of crowdfunding distributions ... Employers now have interim guidance on student loans and retirement plans ... AICPA joins coalition to fight intensifying tax scams, schemes
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Republican control of Washington and a tax bill next year have corporate America excited — and on edge.By Andrew Duehren
The preparers filed for pandemic-related tax credits on behalf of ineligible clients and then netted hefty filing fees, officials said.By Adeel Hassan
Business owners say card transaction fees are a growing monthly expense, one often passed to consumers. They’re cheering efforts to lower them.By Danielle Kaye
The hit singer Noah Kahan grew up frequenting Coburns’ General Store and has called it “the heart” of his hometown. His mother is helping lead an effort to save it.By Jenna Russell
Lining up early outside stores and hunting for deals was once part of a gratifying Black Friday. It no longer feels that way.By Mike Dang
The experience of interacting with small business owners at winter markets makes holiday shopping “a little bit more wholesome” for some visitors.By Aimee Ortiz and Jeenah Moon
The South African government said that nearly 900 people, many children, had fallen sick since September.By Lynsey Chutel
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For those considering a return to the office, here are some points to work through.
To effectively put customers first and help protect enterprises and government organizations from the complex cyber landscape, teamwork is essential.
Integrating workflows like facilitator management and scheduling into a single system can be an effective way to streamline your L&D processes.
With vehicles evolving from mechanical machines to complex technological platforms, collaboration between automotive manufacturers and technology firms is essential.
California-based start-up Aampe continues to grow rapidly, supporting consumer-facing businesses looking to build more personalised experiences for their app users
Stop writing average emails that get average results. These ChatGPT prompts will transform your marketing messages into money-making machines.
Embracing the opportunities presented by both technology innovation and consumer demand is critical to success.
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Two families are suing AI chatbot company Character.AI for allegedly encouraging harm after the kids became emotionally attached to the bots. One chatbot allegedly exposed them to sexualized content.
A study by the Insurance Institute for Highway Safety shows higher speeds are worse for pedestrians regardless of vehicle height — but those risks are amplified for vehicles with taller front ends.
Washington Post Acting Executive Editor Matt Murray killed a story about the departure of a veteran and popular editor for a senior position at the New York Times.
The nuclear industry and big tech companies think they can solve each other's problems, but critics are skeptical the marriage can last.
Influence. The ability to persuade, motivate, or connect with other people. It's one of these skills that's hard to measure, but incredibly important in the office. However, some would argue that we often misunderstand how influence works.
Trump promised to "drill, baby, drill." What does that actually mean for the U.S. oil and gas industry – and other types of energy, too?
You never know if president-elect Donald Trump is bluffing, but when you have billions of dollars on the line, you have to take him seriously. So car companies took notice, when Trump announced a plan for huge new tariffs in a social media post before Thanksgiving.