Nine individuals have been indicted in two separate conspiracies in Portland, Ore., each of them claiming more than $1 million in fraudulent tax refunds, according to the Justice Department and the Internal Revenue Serviceís Criminal Investigation unit.
Last year marked the third consecutive year of increases in CPA firm revenue since the recession, with firms posting a 6.7 percent revenue increase, up from 5.4 percent in the previous year, according to the latest results from the Rosenberg Survey.
The chairman of the House Small Business Committee, Sam Graves, R-Mo., has introduced legislation to streamline and simplify the loan application process at the Small Business Administration by requiring the agency to permit the use of electronic signatures and electronic records.
Rep. Collin Peterson, D-Minn., has introduced legislation that would amend the Tax Code to disqualify movie and TV producers from receiving tax credits from the federal government if any of the production is done outside the United States.
WalletHub, a personal finance social network, has released an analysis of the rates at which S&P 100 companies are taxed at the state, federal and international levels and found they were on average paying more in taxes last year than in 2012, although some are still paying extremely low rates.
The House passed three pieces of legislation Wednesday aimed at limiting the authority of the Internal Revenue Service in response to scandals involving the extra scrutiny given to political groups applying for tax-exempt status as social welfare organizations.