The AICPA has released a white paper that provides practitioners (known as service auditors) with advice about performing SOC for Service Organization reports on companies that have incorporated blockchain into their service-delivery systems. The use of blockchain may allow service organizations to provide new services (e.g., developing new systems to support supply chain efficiency) and […]
Archives for December 2020
Circular 230 update planned for 2021
Treasury intends to update the Circular 230 rules governing practice before the IRS, and external stakeholder groups are invited to submit suggested changes and revisions to the IRS’s Office of Professional Responsibility (OPR). OPR plans to send Treasury “basically a redline of Circular 230,” said OPR Director Sharyn Fisk, speaking at a virtual meeting of […]
Being Too Busy Means Poor Business Structure
Does the following conversation sound familiar? Me: How’s business? Most people: It’s great. I’m so busy! Me: Oh nice. Want to get together and discuss some growth opportunities? Most people: I’d love to, but I’m just too busy. I’m working like 60 hours a week and can’t make the time. Sound familiar? Well there’s a […]
What Is the Break-Even Point, and How Do You Calculate It?
Do you want your business to make a profit? Duh, of course you do! But when you’re starting out, it may take a few years before you enter profit territory. And after you start making a profit, you may be at the break-even point for a while. So, what is the break-even point? What is […]
Tax-News.com: UK Eyeing VAT Rule Changes For Sharing Economy
The UK Government is inviting input on the tax challenges associated with the rise of the sharing economy.
Tax-News.com: Norway Issues VAT Regulation In Response To Brexit
Norway intends to provide value-added tax administrative relief measures to UK businesses in response to Brexit.
Tax-News.com: UK, Mexico Sign Continuity Trade Deal
On December 15, 2020, the UK and Mexico signed a trade continuity agreement that will apply when the Brexit transition period ends.
Nosy Ex-Partners Armed with Instagram Passwords Pose a Serious Threat
The administrator of your personal data will be Threatpost, Inc., 500 Unicorn Park, Woburn, MA 01801. Detailed information on the processing of personal data can be found in the privacy policy. In addition, you will find them in the message confirming the subscription to the newsletter.
Defending Against State and State-Sponsored Threat Actors
The administrator of your personal data will be Threatpost, Inc., 500 Unicorn Park, Woburn, MA 01801. Detailed information on the processing of personal data can be found in the privacy policy. In addition, you will find them in the message confirming the subscription to the newsletter.
IRS regs. govern misdirected refund claims
The IRS is implementing procedures to identify and recover tax refunds issued by electronic funds transfer (direct deposit) that were not delivered to the account designated to receive the direct deposit refund on the federal tax return or other claim for refund. The regulations (T.D. 9940) finalize proposed regulations (REG-116163-19) with one change to the […]