On Friday, Chair of the House Ways and Means Committee, Jason Smith, introduced the American Families and Jobs Act, which includes a reversal of the amortization of Section 174.
2023 will bring some exciting and lucrative tax incentives for small and medium businesses across America. Taking advantage of these opportunities can significantly impact your business’s bottom line, so it’s essential to stay informed about the incentives available.
alliantTALENT, an alliantgroup company and an extension of your CPA team providing quality talent to improve the efficiency of your business every step along the way, will have experts for panels, presentations and booth experiences at this year’s AICPA ENGAGE. This event is the accounting and finance industry’s premier event of the year and will take place in Las Vegas and virtually.
Last year, Congress approved $80 billion in new funding for the Internal Revenue Service — but the bipartisan debt ceiling deal would claw some of that money back.
The Minister of IT for India’s Telangana state, Kalvakuntla Taraka Rama Rao, better known as KTR, received a warm welcome at alliantgroup’s Houston headquarters to discuss job growth and further investment in Hyderabad. KTR and alliantgroup CEO, Dhaval Jadav, hosted an exuberant conversation about expanding the consulting and management engineering firm’s already strong presence in the Hyderabad region, the ‘Silicon Valley of India.’ alliantgroup has rapidly grown their workforce in the Indian city to 1,000 and plans to expand that to more than 5,000 workers.
The Internal Revenue Service recently proposed to send notifications to taxpayers and tax professionals when returns are filed about errors and missed credits or deductions, a plan that could have the unintended consequence of hindering taxpayer rights.
The US Supreme Court on Thursday rejected a proposed limit on the IRS’s ability to demand a bank account holder’s records without giving notice as part of an effort to collect on someone else’s delinquent taxes.
The IRS is testing a system that would allow taxpayers to file federal tax returns for free online directly with the agency, with a pilot program launching for some filers next year.
Earlier this month, a group of Senators sent a letter to IRS Commissioner Danny Werfel about the use of AI—artificial intelligence—technology, including ChatGPT, to engage in scams aimed at taxpayers.
Many taxpayers like the notion of a do-it-yourself plan for preparing and filing their tax returns digitally for free through an IRS-run system.