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Mississippi is on the brink of a significant fiscal transformation as both the House and Senate propose plans to eliminate the state...

Investing in a startup or small business comes with risks, but the IRS provides a tax benefit for losses on qualifying small business...

The IRS has issued a reminder  that retirees who turned 73 in 2024  must take their first Required Minimum Distribution (RMD)  from IRAs,...

Converting a C corporation to an S corporation  can offer significant tax advantages, including pass-through taxation  and avoiding the...

Starting April 1, 2025, the UK government will implement significant changes to Vehicle Excise Duty (VED), affecting both new and...

The U.S. tax code allows business owners to deduct losses from their businesses, but these deductions are subject to strict limitations....

Congressional Republicans have introduced legislation aiming to substantially increase the tax burden on investment returns from large...

When a business owner transitions from a sole proprietorship or partnership to a C corporation , a key tax concern is whether the...

As the U.S. government approaches a critical funding deadline, concerns are mounting that a potential shutdown could impede progress on President Trump's proposed tax reform bill. The Republican-controlled House has passed a provisional spending bill to maintain government operations; however, its passage in the Senate remains uncertain, as Democratic support is necessary to meet the required vote threshold. ​ Implications of a Government Shutdown on Tax Reform A government

The Accumulated Earnings Tax (AET)  is an additional tax imposed on C corporations that retain earnings beyond the reasonable needs of...

​In a significant legislative development, Senate Republicans are advancing a comprehensive tax reform plan that proposes over $5...

In a significant move to enhance tax compliance and revenue collection, the UK Treasury has announced a new whistleblower reward program aimed at incentivizing individuals to report tax avoidance and fraud. This initiative draws inspiration from successful models in countries like the United States and Canada, where such programs have proven effective in uncovering financial misconduct.​ Key Features of the Program Substantial Rewards : Informants could receive up to 25% of t

In a significant escalation of trade tensions between Canada and the United States, Ontario has imposed a 25% surcharge on electricity...

In a significant legislative move, House Ways and Means Committee Chairman Jason Smith has pledged to deliver a comprehensive tax reform...

In early 2025, the Internal Revenue Service (IRS) initiated significant workforce reductions as part of a broader federal cost-cutting...

Walgreens was founded in 1901  by Charles R. Walgreen Sr. in Chicago, Illinois . The company quickly grew from a single drugstore to a...

Carried interest is a share of the profits that investment managers, particularly those in private equity and hedge funds, receive as...

In a significant move affecting the cryptocurrency industry, the U.S. Senate recently voted to overturn an IRS regulation targeting...

​The Corporate Transparency Act (CTA) , enacted in 2021, mandates that businesses disclose their beneficial ownership information to the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN). This legislation aims to combat illicit financial activities by increasing corporate transparency.​ However, as of March 2, 2025, the Treasury Department announced a significant shift in its enforcement policy regarding the CTA. The department stated that it wi

The March 15, 2025  tax deadline is quickly approaching for partnerships  and S corporations . This is one of the most important tax...

The Applicable Federal Rate (AFR)  is a set of interest rates published monthly by the Internal Revenue Service (IRS) . These rates are...

In a significant development within the luxury fashion industry, Prada SpA  is reportedly nearing an agreement to acquire Versace  from...

In a groundbreaking move, KPMG LLP  has launched KPMG Law US   in Arizona , becoming the first of the Big Four accounting firms to offer...

The Internal Revenue Service (IRS) is undergoing significant leadership transitions during a pivotal period for the agency. Acting...