With a planned overhaul of Social Security and pressing budget issues occupying center stage during the onset of the second Bush administration term, the president's planned reform of the tax code would most likely be pushed back at least one year. According to the Washington Post, the president plans to name a panel to examine the current tax policy but reportedly will assign the Treasury Department to monitor the panel's progress. The report said that Treasury Secretary John Snow would most likely recommend incremental changes to the tax code, rather than more dramatic reforms such as supplanting it with a "flat tax" or national sales tax. A White House spokeswoman, however, maintained that overhauling the tax code remains a priority.
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The IRS is reevaluating how to gauge the more than 150 taxpayer service improvement projects it had been pursuing before staffing and budget cuts this year.
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The IRS's progress in improving tax compliance in recent years has been threatened by cuts in funding and hiring, according to a new report.
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Indiana CPA Society awards $24,550 in scholarships; Weaver and Herbein + Co. relocate offices; and more news from across the profession.
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Amid cost pressures, more than a third of finance leaders have paused at least some capital spending and cut costs in virtually all areas except for AI.
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Plus, Sage launches Tap to Pay feature; UHY offers CCMP accelerator courses; and other accounting technology news and updates.
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The annual list recognizes the 100 top workplaces in the profession.
July 17