In the blogs: Good citizens
Domestic and international; contractors and nonprofits; IRS big-debt help; and other highlights from our favorite tax bloggers.
IRS finalizes regs on BEAT for multinationals
The Internal Revenue Service released final regulations for the base erosion and anti-abuse tax that is supposed to discourage multinational corporations from shifting profits overseas.
IRS unveils website devoted to partnership audits
The Internal Revenue Service introduced a section of its website dedicated to the Centralized Partnership Audit Regime.
Trump wins delay of New York subpoena for his tax returns
A federal appeals court granted President Donald Trump an order delaying enforcement of the Manhattan district attorney’s subpoena for his tax returns while it considers his latest legal challenge but may rule quickly in the matter.
AICPA opens up applications for .cpa domains
In the first stage, licensed firms have 60 days to apply.
Treasury says most stimulus payments to the dead recouped
The Trump administration said it’s recovered almost 70 percent of $1.6 billion in relief payments mistakenly sent to dead people as the government rushed out stimulus money to blunt the economic impact of the coronavirus, according to a government watchdog.
New certification available for tax resolution
Tax Rep LLC has created a new CTRC designation for tax practitioners.
CalCPA forms diversity commission
The California Society of CPAs has created a commission to focus on diversity, equity and inclusion issues in the CPA profession.
PwC global revenues inch up 3% to $43B, but are hit by COVID
The final three months of the fiscal year showed a slowdown due to the impact of coronavirus on clients.
Accounting in space
As humanity explores the stars and starts to do business there, it will require significant innovations in accounting, according to Dr. Hank Alewine, associate professor of accounting at the University of Alabama in Huntsville.