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When the IRS Will Challenge Home Office Deductions

(Accounting Web) - While people who have home offices can make certain deductions on their taxes, the IRS will challenge some decisions.



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Improper Payments for Refundable Credits Prove Hard to Combat for IRS 
(Accounting Today) - A new report, released Thursday by the Treasury Inspector General for Tax Administration, found that for fiscal year 2020, the IRS estimated that 24% ($16 billion) of the total EITC payments of $68.2 billion were improper.

Restaurant Revitalization Fund Faces Huge Funding Shortfall 
(JofA) - Less than 10 days after its launch, the Restaurant Revitalization Fund (RRF) has less than half the money it needs to fund a flood of relief requests from one of the sectors of the economy hardest hit by the COVID-19 pandemic.

Corporate Cash Holdings Metric Offers Mixed Signals 
(CFO) - About one-third of companies saw their cash balances fall in the first quarter, but did that indicate investment or poor financial performance?

Woman’s $26M Lotto Ticket Destroyed in Laundry, SoCal Store Manager Say 
(Fox 5) - The store’s manager — who would only give his name as Frank — said surveillance video shows the individual who purchased the ticket, and she’s known to store workers. Lottery officials did not immediately respond to questions about possible video evidence of the winner and what recourse someone might have after accidentally destroying a winning ticket.

Brain Implants Let Paralyzed Man Write on a Screen Using Thoughts Alone 
(CNet) - Researchers combine neural implants with AI to develop a "mindwriting" system that converts imagined writing to text on a screen.

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