JGI | Jamie Grill | Blend Images | Getty 401(k) plans hold a whopping $7.7 trillion in retirement savings. But cash-outs of small accounts pull billions from the system each year and can harm investors’ chances of a secure retirement, research shows. A trio of the industry’s largest 401(k) administrators — Fidelity Investments, Vanguard Group
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Run but can’t hide; lack of support; Romanian holiday; and other highlights of recent tax cases. Rome, Georgia: Computer support employee Melvin Orellana has been sentenced in Nevada to 18 months in prison for participating in an ID-theft conspiracy. Orellana worked for a company that provided software to tax prep businesses throughout the U.S. King
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In this article SPOT AMZN NFLX Follow your favorite stocksCREATE FREE ACCOUNT Netflix may as well be a necessity. Even as Americans cut back in the face of rising prices and recessionary fears, fewer want to give up their streaming subscriptions, especially when it comes to TV, movies and music services, such as Amazon Prime, Netflix
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The Georgia Society of CPAs and Feeding Georgia’s ninth annual Georgia Accounting Food Fight raised $372,907 this year, which represents over 1.4 million meals.  Over 70 accounting firms and accounting departments representing over 66,300 members participated in the virtual food fight between August 8 and August 19. Accounting professionals competed to give their earnings back
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Senate Finance Committee Chairman Ron Wyden, D-Ore., questions IRS Commissioner Charles Rettig at a Senate Finance Committee hearing. Tom Williams | Pool | Reuters Senate Finance Committee Chairman Ron Wyden, D-Ore., has outlined five priorities for the nearly $80 billion in IRS funding enacted in August through the Inflation Reduction Act.  Wyden shared expectations for
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Looking to draft guidance reflective of the needs of taxpayers entitled to claim Inflation Reduction Act energy credits, the Internal Revenue Service has issued six notices asking for comments. Input is wanted on different aspects of extensions and enhancements of energy tax benefits. By notice, comments are requested on: Notice 2022-46, credits for clean vehicles.
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Demonstrator Gan Golan of Los Angeles at Occupy DC activities in Washington, D.C. Jacquelyn Martin President Joe Biden’s order to cancel student loan debt for millions of Americans will cost an average of $30 billion per year over the next decade, according to a Biden administration cost estimate. The 10-year cost will be roughly $305 billion, as
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With risks on the rise and a hard market for professional liability insurance developing, it’s more important than ever for accounting firms to review their coverage to make sure they can handle emerging areas of concern like cyber, COVID-19 relief programs, and more. Below are some of the leading insurance programs for accountants and some
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On 30 September, the Council of the European Union agreed to impose an EU-wide windfall profits tax on fossil fuel companies to fund relief for households and businesses facing high energy prices (due primarily to Putin’s war on Ukraine). Given the dire economic environment for families and the urgency to transition away from Russian energy,
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The 15% minimum tax on billion-dollar corporations in the Inflation Reduction Act that President Biden signed into law in August shouldn’t be confused with the 15% global minimum tax on multinational companies that the Treasury Secretary Janet Yellen has been encouraging countries to approve, but it’s no surprise there is some confusion. The Organization for
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Establishing good business credit is one of the most important things you can do as a new small business owner. But how do you get the ball rolling? Here are some tips that can help you build a good credit rating for your business. What is business credit? Let’s start off with the basics. Just
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