The U.S. Supreme Court's landmark decision in South Dakota v. Wayfair, Inc. (138 S. Ct. 2080, 2018) overturned years of ...

In Brief Of the many kinds of technologies that professionals have encountered in recent years, artificial intelligence (AI) ...

In Brief While still in the early stages of its development, generative artificial intelligence (GenAI) shows promise in ...

As early as 2006, the IRS has recognized that “foreign outsourcing is not prohibited by … final regulations, which permit ...

In Brief Over the years, numerous studies have revealed racial disparities in hiring practices, specifically detailing the ...

The accounting profession stands at an inflection point. We're facing both a generational pipeline crisis and an accelerating wave of technological ...

Redemption of a Partnership Interest Redemptions of a partner’s entire partnership interests are governed by IRC section 736. That section does not affect the amount of income, gain, or loss that will ...

The Basics The core of IRC section 121 is fairly simple. Individual homeowners can exclude from gross income up to $250,000 of gain ($500,000 for certain married couples filing jointly) provided that ...

Income Tax Returns Income tax reporting for the year of the decedent’s death will most likely reflect a split year. A new taxpayer—the decedent’s estate—comes into being on the date of the decedent’s ...

In May 2024, the PCAOB revised its quality control standard, A Firm’s System of Quality Control. PCAOB-registered CPA firms should follow this standard, which is outside the scope of this article, ...

Although emerging technologies have disrupted the entire accounting ecosystem in recent years, the education realm has been one of the areas hardest hit. Declining enrollments and decreased numbers of ...

The recent Supreme Court decision in South Dakota v. Wayfair will expand retailers’ responsibilities to collect sales taxes on out-of-state purchases. Although the Court’s rationale was that ...