Mark Friedlich

As tax professionals, we need to figure out which version of reality is going to show up on tax season opening day.

Right now, cannabis businesses operating legally under state law still can't deduct basic costs like rent, salaries or marketing.

Tax work has always required patience, judgment and a steady hand. What is different today is the speed of change and the pressure that comes with it.

Understanding the authority, eligibility criteria and automation advantages of the program will be essential for firms representing clients before the IRS.

The issues concern the constitutional division of taxing power, the potential role of Congress in determining trade rules, and costs to businesses and households.

The acting chair of the Public Company Accounting Oversight Board outlines his vision for defining audit quality, highlights private equity concerns, and calls for AI guardrails.

The new regulatory environment has faced legal challenges, creating uncertainty for companies and auditors.

Emerging technologies are revolutionizing the group audit process with solutions to navigate the complexities and enhance audit quality.

Understanding these updates is critical in guiding the tens of millions of LLCs, closely held businesses, and other small-business clients through the complexities of beneficial ownership compliance.

Auditors face increasing challenges in evaluating how organizations estimate and report credit losses.

These investment vehicles present obstacles that require a deep understanding of the real estate industry and robust financial expertise.

The extent of how many taxpayers were affected by the breach was unknown until now.

The landscape of Corporate Transparency Act beneficial ownership information reporting continues to evolve, and accountants and others who advise small businesses need to stay ahead of the curve.

The IRS threw a late curveball at tax professionals scrambling to meet the April 15 deadline, and for partnerships and corporations in general.

Friction simmers within the audit industry following the Public Company Accounting Oversight Board's controversial June 2023 proposal to revise its standard on noncompliance with laws and regulations.

This new standard changes the game for auditors to make risk assessments even more effective.

An Alabama federal district court held that the Corporate Transparency Act is unconstitutional, stating it "exceeds the Constitution's limits on Congress' power."

Auditing is undergoing a seismic shift, largely driven by the relentless march of technology.

The AICPA's professional liability insurer will cover client services related to the Corporate Transparency Act's beneficial ownership information reporting requirement.

Beginning Jan. 1, 2024, tens of millions of small businesses must file beneficial ownership information reports.