The Tax Provisions of the Infrastructure Act

The Tax Provisions of the Infrastructure Act

Because of the Infrastructure Investment and Jobs Act, P.L. 117-58, which President Joe Biden signed into law on November 15, 2021, the ERC was ended early and broker reporting of cryptoasset transactions is now required. After clearing the Senate in August, the bill was finally passed by the House of Representatives on Nov. 5, 2021. … Read more

TIGTA: IRS inefficiencies worsened the backlog of cases

TIGTA IRS inefficiencies worsened the backlog of cases

An audit by the Treasury Inspector General for Tax Administration (TIGTA) found that while pandemic and law changes were to blame for the IRS’ failure to meet timeframe standards for most taxpayer cases last year, inefficiencies in staffing, equipment, and procedures also played a role. “Program and organisational changes are needed to address the continued … Read more

The panel discusses the impact of blockchain and cryptocurrency on accounting and taxation

The panel discusses the impact of blockchain and cryptocurrency on accounting and taxation

Consensus: Invest 2018 was held in New York City on Tuesday and Blox CEO Alon Muroch said that blockchain and cryptocurrencies put “the finance side of the world at the forefront of tech,” something that rarely happens. As cryptocurrency and blockchain adoption grows, some people have called bitcoin “funny money” in the past, but “no … Read more