More people have used Free File so far this year than for all of last year, according to the latest figures from the Internal Revenue Service. As of March 16, 3.55 million tax returns have gone through Free File, up 44 percent compared to the same time last year and exceeding last year's total of 3.51 million. Now in its third year, Free File is a partnership between the IRS and a consortium of tax software manufacturers. Electronic filing continues to surge, with e-filed returns running 7 percent ahead of last year. Of the 67 million returns filed as of March 18, 68 percent were e-filed. While this percentage will decline as April 15 approaches, the IRS said it expects that for the first time more than half of all individual tax returns will be electronically filed this year.
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Upon the historic deal's closing, Grant Thornton is expected to beome the fifth-largest firm with more than $5 billion in domestic revenue and $7.5 billion globally.
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The sprawling bipartisan bill would add new requirements for the IRS as well as tax preparers, including continuing education for unlicensed preparers.
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Corporate sustainability reports are including less specific quantitative information and disclosures and leaning more toward puffery.
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How firms are working to solve the latest iteration of the pipeline problem
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Parents of 51.7 million children now qualify for the new Education Freedom Tax Credit for scholarships, according to a new estimate released by its proponents.
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There's little consistency in how businesses across different countries can deduct their capital investments as depreciation, according to a new study.
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