Tax Fraud Blotter: Reaping and sowing
Share and share alike; fleecing the flock; United they fall; and other highlights of recent tax cases.
Pimco, T. Rowe bet on SEC prioritizing tax-savvy funds
Optimism is building that a game-changing fund design that will help asset managers shrink clients’ tax bills will soon be approved by the SEC.
PCAOB posts videos on quality control standard
The staff presentation videos aim to help firms implement the four components of QC 1000, A Firm’s System of Quality Control.
Massachusetts CPAs see clients moving for lower taxes
States including Florida, New Hampshire, Texas and South Carolina are the main ones attracting clients due to their tax-friendly policies.
Redesign Social Security to provide greater retirement security
A Social Security floor-offset design, utilizing a sovereign wealth fund, can help alleviate current and future Social Security funding obligations.
US property tax rise slowed, but more counties topped $10K
The average U.S. homeowner paid $4,172 in property taxes last year, according to a report by real estate data firm ATTOM.
GOP Senator McCormick says millionaire tax hike won’t fly
President Donald Trump is seriously considering ideas to raise taxes on the rich as a way to partially offset revenue losses from his tax package.
Congress prioritizes a tax break few Americans will claim
Congress will be drafting its multitrillion tax cut proposal in the coming weeks, almost certainly reflecting the priorities of a small minority of constituents.
Harvard sees ‘grave consequences’ as Trump pushes IRS action
The university pushed back against the U.S. government after President Donald Trump said the school should lose its tax-exempt status.
IRS Direct File reportedly ending next year
The Trump administration is reportedly making plans to shut down the Internal Revenue Service’s free tax prep system next year.