The Internal Revenue Service has completed its first settlement order with the operator of a syndicated conservation easement scheme as part of a broader crackdown on what the IRS views as abusive tax scams. The IRS announced its first settlement in a case under an initiative announced in June under which the IRS Office of
Month: August 2020
Apple CEO Tim Cook greets customers at the grand reopening of Apple’s flagship Apple Fifth Avenue retail store on September 20, 2019 in New York City. Taylor Hill | Getty Images Shares of Apple and Tesla rose sharply on Monday, the first day after their recently announced stock splits took effect, as investors continued to
Apple split its stock on Monday. FREDERIC J. BROWN | AFP | Getty Images Two of the most valuable and popular public companies – Apple and Tesla – completed stock splits on Monday. Wondering what that entails? And what, if anything, it means for your investments? Let’s start with how the process of a corporate stock
PricewaterhouseCoopers saw its global revenue grow in the first nine months of the fiscal year ending June 30, 2020, but the final three months showed a slowdown due to the impact of the novel coronavirus on clients and the broader economy. Nevertheless, PwC was able to report revenue growth of 3 percent (in terms of
If you buy something through our links, we may earn money from our affiliate partners. Learn more. If your small business ships a lot of packages, it’s important to avoid accidents by using the best shipping tape. Each small business may have different needs or preferences when it comes to tapes. Some may prefer clear
With three months until the 2020 U.S. presidential election, a national poll finds that more than one-third of likely voters have a dismal view of their finances — and a bleak outlook for employment, wages, job security and health care. Of the more than 2,300 likely voters in the most recent CNBC and Change Research‘s States
We are now in August 2020, and for calendar year-end organizations two fiscal quarters have been completed under remote working conditions due to COVID-19. What we thought was a temporary pivot is now undoubtedly the reality for the remainder of 2020. Finance and accounting teams, among other departments, have had to innovate and adapt quickly
DraftKings CEO and Co-Founder Jason Robins speaks during the unveiling of DraftKings headquarters March 26, 2019 in Boston, Massachusetts. Darren McCollester | Getty Images Stocks are once again at record high levels — with the S&P 500 now up over 21% on a one-year basis. That’s following Fed Chair Jerome Powell’s more-relaxed inflation targeting strategy,
DusanManic | iStock | Getty Images Many people’s retirement dreams received a reality check following the economic downturn caused by the coronavirus pandemic. New research shows that’s especially true for older workers. A recent report from Democrats on the Joint Economic Committee of Congress found that workers ages 65 and up were hit harder by
MINNESOTA: Westberg Eischens acquires Robert F. Danielowski PA Details: Westberg Eischens PLLP, a firm in Willmar, Minnesota, has acquired Robert F. Danielowski PA, an accounting firm in Granite Falls. Danielowski has a long career in accounting and is retiring after 41 years in business. He began working in 1973 for Carlotto and Associates and became
valentinrussanov | E+ | Getty Images If the economic havoc from the coronavirus persists, distressed homeowners could find themselves facing a terrifying prospect next year: Foreclosure. The CARES Act, the pandemic relief act that became a law this spring, sought to keep millions of Americans in their homes. In particular, it gave borrowers with federally
Intuit’s revenue for fiscal year 2020 is up 13 percent year over year, which maintains the rate of growth from the previous year. The company brought in $7.7 billion, up from $6.8 billion in FY 2019, the growth mainly fueled by TurboTax Online and TurboTax products. This year, the IRS extended the tax deadline from
A man wearing a protective mask sits on top of the Charging Bull sculpture near Wall St. amid the coronavirus pandemic on April 19, 2020 in New York City, United States. Alexi Rosenfeld | Getty Images Company: Evolent Health Inc. (EVH) Business: Evolent is a health-care delivery and payment company. It supports health systems and
Anna Vela had three days to pay her rent or her landlord would evict her and her three children. She didn’t have the money. When the pandemic hit, Vela’s boss at the supermarket where she worked in Davenport, Iowa, had cut her weekly hours to around 11 from 35. And when she learned that she’d
Financial professionals, including accountants and company controllers, have needed to burnish their technology skills during the novel coronavirus pandemic as they work remotely with their colleagues and clients. A new report from the Institute of Management Accountants and Deloitte’s Center for Controllership is based on a survey of nearly 800 finance and accounting professionals conducted
Guidance for companies on President Donald Trump’s payroll tax deferral directive is being held up by White House dissatisfaction with the rules drafted by the Treasury Department and Internal Revenue Service, according to three people familiar with the matter. The White House wants employers, not employees, to be responsible for paying back the Social Security
U.S. President Donald Trump reacts at the Republican National Convention in Charlotte, North Carolina, August 24, 2020. David T. Foster | Pool | Reuters The IRS issued long-awaited guidance on President Donald Trump’s payroll tax deferral Friday night. And it appears to put the onus on employers to collect any taxes due after the holiday
The Internal Revenue Service said companies will be responsible for collecting and paying back any deferred payroll taxes under a directive by President Donald Trump aimed at helping workers while the administration and Democrats are stalemated on a stimulus deal. The agency issued guidance Friday that implements Trump’s order to delay the due date for
Philly fraud; under development; ran but couldn’t hide; and other highlights of recent tax cases. Philadelphia: Preparer Nvahbulai Quisiah has been sentenced to five years in prison for conspiring to defraud the U.S., preparing false client returns, wire fraud and identity theft. Quisiah owned and operated First Premier Tax Service (also d.b.a. Kosh & Associates)
It’s been a great August, up 6% for the S&P 500, the best August since 1986. But then again, it was a great July. And a great June. May was pretty good, too, and April was downright eye-popping. The Summer Rally (S&P 500 Monthly Returns) April: up 12.7% May: up 4.5% June: up 1.8% July:
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