If a TPSO reports a 1099-K incorrectly, the IRS will most likely send a tax notice with a mismatching error. This will occur because the IRS receives a copy of the 1099-K from Venmo, PayPal or other TPSO that doesn't match what the taxpayer claimed on their tax return, Matt Civitell...
However, at the same time, there remain certain challenges in the ESG information disclosure level, corporate governance structure and enforcement of environmental protection laws and regulations. Bai Wenxi, Chairman of China Enterprise Ca...
Tangible personal property tax is paid by a landlord or company to its local government, but landlords or company owners can claim a deduction on federal income tax returns. To claim the deduction, the tax must only apply to personal property owned and bought for the business’ operation, be ...
The United States Congress is responsible for making and approving federal laws-rules that everyone in the country must follow. But exactly how do those laws get made? The process is not easy, and it takes a long time. A law begins when someone puts forward an idea. The idea can come ...
Tax avoidance can be illegal, however, when taxpayers deliberately make it a point to ignore tax laws as they apply to them. Doing so can result in fines, penalties, levies, and even legal action. What's the Difference Between Tax Avoidance and Tax Evasion?
tracking expenses, and keeping up with ever-changing tax laws, it’s easy to see why tax season can be stressful. But staying informed and prepared can make all the difference. With the right knowledge, you can avoid surprises and even uncover tax-saving opportunities that benefit your busines...
Congress rarely agrees on anything. Except that it should regulate the tech industry. But a year after the Cambridge Analytica scandal upendedFacebook, Capitol Hill is still unable to step up to the plate. Lawmakers this week oversaw six hours of hearings in the House and Senate judiciary com...
Common SOX Compliance ChallengesNoteworthy Organizations and Frameworks 2024 SOX Compliance Checklist (Free Download) The Sarbanes-Oxley Act of 2002 (SOX) was passed by the United States Congress to protect the public from fraudulent or erroneous practices by corporations or other business entities. The...
most countries have tens or hundreds of thousands of pages of laws. They are enforced by the police, supported by the court and prison systems. Laws are written by legislators, such as senators or congressmen. In America and many other countries, these rules must uphold and not contradict ...
Understanding Regulation CC Regulation CC is designed to require financial institutions to correctly process deposited checks on a timely basis. Unpaid checks are also required to be immediately returned to the paying bank. Congress instituted the Expedited Funds Availability Act of 1987 because of conce...