IRS WATCH

Biden proposes new tax surcharges of 5%-8% on millionaires

By Lynnley Browning       4 min read

The latest proposal underscores a fierce fight in Congress over ways to pay for Biden's slimmer social-spending agenda. Read story →

AICPA asks Congress to clarify rules on 15% minimum corporate tax

By Michael Cohn       4 min read

The American Institute of CPAs sent a letter to Congress’s tax-writing committees asking lawmakers to reconsider the rules around the corporate minimum tax rate that’s currently part of the reconciliation bill now under consideration. Read story →

When $200K is taxed like $10 million: Latest tax plan targets less affluent with trusts

By Lynnley Browning       7 min read

Democrats, unable to gain traction on taxes that affect only the ultra wealthy, have turned to trusts as little as $200k.  Read story →

IRS warns: Deferred payroll taxes due in December

By Michael Cohn       2 min read

The service is sending notices to taxpayers who deferred their Social Security taxes last year, reminding them that half the taxes will be due by the end of this year. Read story →

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Reconciliation bill likely to have a tax impact on energy-efficient buildings

By Brian Coddington, Karen Koch       3 min read

The Section 179D incentive would jump from $1.80 per square foot for efficiency improvements to a sliding scale between $2.50 and $5. Read story →

Tax Fraud Blotter: Mind games

By Jeff Stimpson       5 min read

Tag, you’re it; daddy’s little nominee; across state lines; and other highlights of recent tax cases. Read story →

Sinema offers support for taxing top earners in Democratic plan

By Colin Wilhelm       2 min read

Arizona Senator Kyrsten Sinema, a crucial swing vote for Democrats, has given the Biden administration a list of specific tax policies she will support in order to raise revenue for the social spending plan Democrats hope to pass this year. Read story →

Tax tactic of the ultra-wealthy: Split the masterpiece in two

By Heather Perlberg       4 min read

That Rothko, Basquiat or Banksy hanging in the front hall may be a great way to get a tax break. Read story →

PCAOB releases latest inspection reports for Big Four

By Michael Cohn       5 min read

The board released its 2020 inspection reports Monday for Deloitte, Ernst & Young, KPMG and PwC, showing mixed results. Read story →

Accountants: Worry about adapting, not being replaced

By Daniel Hood      

Wolters Kluwer’s Jason Marx shares five market trends that are driving change. Read story →

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Thursday, November 4, 2021 1:00 PM EDT

In this webinar we will introduce the SafeSend Suite and how it can automate remote client interactions across the entire tax process, including engagement letters e-signatures, digital client organizers, K-1 distribution, and signer delegation e-file form e-signatures, and collecting payment of the tax prep fee. Learn More →

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