By a margin of 240-179, House lawmakers approved funding for the Internal Revenue Service for fiscal 2008 and in the process eliminated a provision that would have capped spending on the service's private debt collection program at $1 million. The program, which has divided Congress along party lines, allows the IRS to contract with private debt agencies to collect delinquent taxes. Having a $1 million limit would have ended the program. Currently the IRS has contracted with two private agencies, but is looking to expand the program this year according to reports.
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Starting with AI, a number of new developments is making the professional landscape feel stranger than ever.
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Investors mostly favor the continued use of quarterly reporting and rejected the SEC's recent proposal for a semiannual reporting option, according to a survey.
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Plus, KPMG names new int'l leaders; a new director of enforcement at the PCAOB; and other firm and personnel news from across the profession.
June 19 -
Firms are sourcing new solutions from field staff to expand their tools and upskill their professionals. But they aren't just throwing together programs and calling it a day.
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Plus, Canopy announces Canopy Close Automation in open beta; MYCPE ONE rolls out managed cybersecurity services for businesses; and other news.
June 19 -
The Electronic Tax Administration Advisory Committee report calls for sustained IRS funding, human-centered design, fraud prevention and preparer regulation.
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