Playing catch-up in the game of life: Millennials approach middle age in crisis
New data show they’re in worse financial shape than every preceding living generation, and may never recover. Their woes have delayed traditional adult milestones in ways expected to alter the nation’s demographic and economic contours.
Top Tax and Accounting Mistakes
Although many corporate tax and accounting departments are preparing for the March deadline, mistakes related to tax and accounting cost U.S. businesses billions each year.
What the Bitcoin Phenomenon Means for Accountants
It's time to start to start thinking about the tax and accounting ramifications of digital, virtual currencies. By Hitendra Patil Pransform Inc. Bitcoin is virtual currency much in the news these days. It’s peer-to-peer so there’s no central bank or … Continued
Well-known Memphis executive, volunteer Glenn Cofield shot and killed
The shooting happened at the intersection of E. Parkway and Poplar Avenue late Friday night. Police sought the public's help to solve the crime.
3 Tips to Avoid Charity Tax Deduction Scams
Perpetrators of illegal scams can face significant penalties and interest and possible criminal prosecution. IRS Criminal Investigation works closely with the Department of Justice to shut down scams and prosecute the criminals behind them.
Tax Season Preparation 101
As I put my own tax documents into a folder marked “2012 tax documents,” I think about all my clients and their methods of preparing for tax season. It seems like this time of year, my friends lik…
TaxProf Blog: The 100 Most Influential People in Tax and Accounting
I am honored to be included on the list of Accounting Today's 100 Most Influential People in Tax and Accounting for the ninth year in a row: Caron once stood out as one of the few serious tax bloggers out there; now that there are a lot more tax blogs...
IR-2019-98, IRS, Treasury unveil proposed W-4 design for 2020
Internal Revenue Service (IRS) sent this bulletin at 05/31/2019 12:12 PM EDT IRS Newswire IR-2019-98, May 31, 2019 The revised form implements changes made following the 2017 Tax Cuts and Jobs Act, which made major revisions affecting taxpayer withholding. The redesigned Form W-4 no longer uses the concept of withholding allowances, which was previously tied to the amount of the personal exemption. Due to changes in the law, personal exemptions are currently not a central feature of the tax code “The new draft Form W-4 reflects important feedback from the payroll community and others in the tax community,” said IRS Commissioner Chuck Rettig. “The primary goals of the new design are to provide simplicity, accuracy and…
DeSoto County bus crash: What we know so far
A chartered tour bus on its way to Tunica lost control in the snowy weather and flipped on its side, killing two instantly.
Tax Preparation Advice: 4 Scams to Avoid This Year
With the start of the New Year, it's time to start thinking about tax preparation. During the filing season tax scammers are on the prowl. Here are the four biggest scams