McDonald’s U.S President Chris Kempczinski speaks about fresh beef expansion at a McDonald’s event in Oak Brook, Illinois, United States March 5, 2018. Richa Naidu | Reuters McDonald’s board will likely face tough questions from shareholders on Thursday at its annual meeting about how it handled the firing of former CEO Steve Easterbrook. Easterbrook was […]

President-elect Donald Trump boards the elevator to the lobby after meetings at Trump Tower in New York City on January 16, 2017. Dominick Reuter | AFP | Getty Images New York State Attorney General Letitia James’ office — which already was conducting a civil investigation of former President Donald Trump‘s company — is now probing […]

President-elect Donald Trump boards the elevator to the lobby after meetings at Trump Tower in New York City on January 16, 2017. Dominick Reuter | AFP | Getty Images New York State Attorney General Letitia James’ office — which already was conducting a civil investigation of former President Donald Trump‘s company — is now probing […]

Electric vehicle start-up Fisker does not plan to invest in bitcoin or accept the cryptocurrency as payment, according to CEO and founder Henrik Fisker. Fisker said bitcoin is not “sustainable,” echoing environmental concerns raised last week by Tesla CEO Elon Musk due to concerns over the use of fossil fuels for bitcoin mining. “I just […]

A lawsuit against the IRS’s requirement that taxpayers using certain microcaptive insurance arrangements and their material advisers must report the arrangement to the IRS is not barred by the Anti-Injunction Act and therefore may proceed, the Supreme Court ruled Monday. In a unanimous decision, the Court in CIC Services, LLC, No. 19-930 (U.S. 5/17/21), reversed […]

News Practice & Procedures By Alistair M. Nevius, J.D. With taxpayers continuing to face challenges related to the COVID-19 pandemic and the IRS facing a backlog of 29 million tax returns that need manual processing, the AICPA on Monday urged the IRS to implement “fair, reasonable, and practical” penalty relief measures to mitigate the pandemic’s […]

News Practice & Procedures By Alistair M. Nevius, J.D. With taxpayers continuing to face challenges related to the COVID-19 pandemic and the IRS facing a backlog of 29 million tax returns that need manual processing, the AICPA on Monday urged the IRS to implement “fair, reasonable, and practical” penalty relief measures to mitigate the pandemic’s […]

Israeli Prime Minister Benjamin Netanyahu speaks at a ceremony for fallen soldiers of Israel’s wars at the Yad Lebanim House on the eve of Memorial Day, in Jerusalem, April 13, 2021. Debbie Hill | Reuters United Nations Secretary-General Antonio Guterres on Sunday called the violent conflict between Israel and Gaza militants “utterly appalling” and urged for […]

There’s good tax news for professionals in education. The IRS recently issued updated guidance on expense deductions for teachers and other education professionals under the COVID-related Tax Relief Act of 2020. It confirms that if you purchased protective items to stop the spread of COVID-19 at your school, these items qualify under the educator expense […]

A member of the Palestinian civil defence walks amidst the rubble of a building in Gaza city which housed the Intaj Bank linked to the Hamas movement which controls the Gaza Strip, on May 15, 2021. Mahmud Hams | AFP | Getty Images President Joe Biden spoke to Israeli Prime Minister Benjamin Netanyahu and Palestinian […]