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Highlights of the findings from Accounting Today's annual survey of accounting firms' plans for the next 12 months.
| IRS and Treasury issue final rules on Foreign Tax Credit and BEAT | | By Michael Cohn 4 min read
| | The Internal Revenue Service and the Treasury Department released their final regulations on two major international tax provisions, the Foreign Tax Credit and the Base Erosion and Anti-abuse Tax (BEAT), which was included as part of the Tax Cuts and Jobs Act. | |
| IRS continues fight for virtual currency information | | By Michael Cohn 5 min read
| | The Internal Revenue Service is seeking information from more taxpayers who hold virtual currency like Bitcoin, but in a ruling last week, a judge ordered the IRS to limit its summons for information from one cryptocurrency exchange, Bitstamp | |
| Bloomberg says he should pay more taxes but opposes wealth levy | | By Mark Niquette 2 min read
| | Democratic presidential candidate Michael Bloomberg pledged to support “taxing wealthy people like me” but dismissed a wealth levy tried in other countries and supported by rivals including Elizabeth Warren and Bernie Sanders because “it just doesn’t work.” | |
| In the blogs: Conspicuous absences | | By Jeff Stimpson 2 min read
| | No love for the carbon tax; the inflation-adjusted 12 Days of Christmas; 10 end-of-year tax moves; and other highlights from our favorite tax bloggers. | |
| Deloitte leverages RPA for audits | | By Michael Cohn 5 min read
| | Deloitte is making use of robotic process automation to help its auditors and clients with their financial statements. | |
| Marcum merges in Skoda Minotti | | By Michael Cohn 3 min read
| | The mega-deal unites two Top 100 Firms and expands Marcum's presence in the Midwest and Florida. | |
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