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After hitting an all-time peak of around $69,000 per unit on November 10, 2021, the world's leading digital currency Bitcoin has since erased roughly 67% of its value, sitting at about $23,500 right now.
The AICPA recently sent 61 proposals for changes to the Internal Revenue Code to Congress as part of the 2023 AICPA Compendium of Tax Legislative Proposals.
The IRS confirmed on Friday that taxpayers in certain states will not have to report state general welfare or disaster relief payments or refunds in 2022 on their federal tax returns.
A new staff report by the PCAOB offers advice to help audit firms remedy quality control criticisms cited in the inspection process.
Financial accounting standards will be more widely accessible to the public after the Financial Accounting Foundation (FAF) revealed a free, enhanced online portal this week.
Intuit QuickBooks Business Network to Accelerate and Automate B2B Payments for Millions of U.S. Businesses
The average effective tax rate of profitable large corporations fell from 16% in 2014 to 9% in 2018 after passage of the Tax Cuts and Jobs Act of 2017, according to a report released last Friday by the Government Accountability Office.
The Family and Small Business Taxpayer Protection Act was reintroduced on Monday in order to rescind the extra $80 billion funding for the IRS under the Inflation Reduction Act.
According to the IRS, two notices provided interim guidance on the application of the Inflation Reduction Act’s corporate stock repurchase excise tax and the new corporate alternative minimum tax.
