IRS WATCH

IRS offers guidance on depreciating residential rentals

By Michael Cohn       2 min read

The service has posted new procedures to explain how a change in tax law last year potentially affects the depreciation of residential rental property.  Read story →

Tax pros caution clients on taking monthly child tax credit

By Allyson Versprille       4 min read

Clients could end up having to pay back the money next filing season. Read story →

IRS offers online tools for managing Child Tax Credit payments

By Michael Cohn       4 min read

The Internal Revenue Service opened a portal to enable families to monitor and manage their monthly advance payments of the expanded Child Tax Credit.  Read story →

Tax Fraud Blotter: The latest twists

By Jeff Stimpson       5 min read

Just print n’ pay; all hair stylists are alike; risky business; and other highlights of recent tax cases. Read story →

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A record buyout is just the start as wealthy flee U.S. tax hike

By Melissa Karsh, Michelle F. Davis and Devon Pendleton       5 min read

A combination of high valuations on companies and potentially higher taxes in the future is proving to be a potent motivator for selling private companies. Read story →

Biden rebuff on gas tax casts doubt on infrastructure deal

By Jordan Fabian and Erik Wasson       3 min read

The White House reiterated its opposition to indexing the gasoline tax to inflation to help pay for an infrastructure plan. Read story →

Biden’s agenda depends on navigating congressional thicket

By Steven T. Dennis       5 min read

The president’s plan for trillions in proposed spending and tax increases is likely to take at least until September to clear. Read story →

Race for a global tax revolution faces hurdles in final stretch

By Isabel Gottlieb and William Horobin       4 min read

The world’s richest nations have set the stage for a revolution in corporate taxation, but they still have their work cut out to actually achieve that overhaul. Read story →

Firms slowly return to offices while giving employees flexibility

By Michael Cohn       9 min read

Accounting firms are reopening their doors as the COVID-19 pandemic recedes thanks to wide availability of vaccines in the U.S., but they’re trying to avoid alienating staff. Read story →

House passes ESG and tax haven disclosure bill

By Michael Cohn       3 min read

The legislation would require standardized metrics and disclosures of environmental, social and governance measures by companies. Read story →

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Building the modern tax department of the future: Embracing technology to drive your business

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Tax reform, specific tax work-streams, acquisitions, keeping up with changing business activity and macro changes related to politics and the economy has put even more strain on corporate tax departments.  Learn More →

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