TIGTA critiques IRS’s protection of taxpayer data

TIGTA critiques IRS’s protection of taxpayer data The IRS continues to have challenges protecting taxpayer data, and especially ensuring that its various applications provide complete and accurate audit trails, according to the Treasury Inspector General for Tax Administration (TIGTA). TIGTA issued a report that highlights IRS shortcomings and challenges, titled Most Internal Revenue Service Applications […]

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Working Virtually: Use a virtual private network to secure remote locations; Part 3 of Security Summit tips for tax professionals

Working Virtually: Use a virtual private network to secure remote locations; Part 3 of Security Summit tips for tax professionals An official website of the United States Government IR-2020-176, August 4, 2020 WASHINGTON — As more tax professionals consider teleworking during COVID-19, the Internal Revenue Service and the Security Summit partners today urged practitioners to […]

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AICPA continues to ask Congress to include PPP deductibility in upcoming legislation

AICPA continues to ask Congress to include PPP deductibility in upcoming legislation In a letter dated Aug. 4, 2020, the AICPA joined over 170 organizations to urge Congress to “include a technical correction addressing the tax treatment of loan forgiveness under the Paycheck Protection Program (PPP)” in its next round of legislation addressing the coronavirus […]

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Proposed rules govern carried interests

Proposed rules govern carried interests The IRS issued proposed regulations (REGS-107213-18) on the tax treatment of carried interests. Carried interests are ownership interests in a partnership that share in the partnership’s net profits. They are often transferred in connection with the performance of substantial services by an individual. Proceeds from that individual’s partnership interest are often […]

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What you probably didn’t know about racism in the workplace

What you probably didn’t know about racism in the workplace Many businesses have issued public statements saying they won’t stand for racism. Is that enough to ensure an organization does not discriminate? No, says Stephanie Creary, an identity and diversity scholar and professor of management at the Wharton School of the University of Pennsylvania. The […]

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