Industries

Senate Democrats have scrapped a $4,500 bonus tax credit for electric vehicles made with domestic union labor as they seek to wrap up negotiations on a spending deal.

Oil companies that record a profit margin better than 10% would face a proposed new federal surtax, as Democrats struggle to curb U.S. energy costs and broader inflation.

R&D amortization; FAQs’ limits; ‘tax’ by any other name; and other highlights from our favorite tax bloggers.

The Senate Finance chairman is investigating the embattled drugmaker and formula producer’s low tax rates, alleging the company’s investments in stock buybacks may have driven the nationwide formula shortage.

Biggest practice blunders; yet another reason to raise taxes; the court looks back; and other highlights from our favorite tax bloggers.

Employees at accounting firms and other types of businesses are continuing to work remotely, or coming into the office less, as the COVID-19 pandemic continues with the emergence of new and more transmissible Omicron subvariants.

The combination is a powerful tool, as long as the taxpayer and their advisor are familiar with the interaction of these tax laws.

The auditor refused to provide an opinion on the accounts after the embattled German landlord withheld information on some deals.

The Democratic senator pushed back on proposal to expand the popular credit, adding a new obstacle to White House plans for fighting climate change.

The challenge seeks reversal of an April 25 finding that Trump violated a court order to hand over records to New York Attorney General Letitia James.

Software used by accountants to serve this burgeoning market is seen as primitive compared to more-established solutions.

A judge ruled that Donald Trump is in contempt of court for failing to turn over records in New York’s probe into asset valuations at his real estate company.

Energy-policy mess; time is not on your side; cybersecurity planning; and other highlights from our favorite tax bloggers.

Naomi Granger discusses the latest developments in the industry, and what accountants and tax pros who serve it need to know.

The House voted Friday to decriminalize marijuana, expunge federal convictions on pot-related charges and impose taxes on cannabis producers and importers.

Investors and their CPAs need to be aware of the depreciation rules that apply to the short-term rental market.

Several states have taken steps to temporarily roll back their gasoline taxes, a move the Biden administration is considering backing on the federal level.

U.S. governors from California to New York are proposing tax cuts, rebates and other forms of relief to drivers paying more than $4 a gallon to fill their gasoline tanks amid Russia’s war with Ukraine.

Senators Sheldon Whitehouse and Elizabeth Warren say they’re working on a proposed new tax targeting profits being reaped by oil companies as crude prices spike amid geopolitical tensions.

These will offer tremendous tax-saving opportunities in the year ahead, but many people don’t take full advantage of them.