The cover story of the May/June edition of our Valuation & Litigation Briefing newsletter focuses on “How to factor cybersecurity concerns into a business valuation.” This article addresses the need for business valuation professionals to assess risk, specifically in the area of businesses relying on remote workers and cloud-based technologies, when valuing businesses. Other articles […]
The IRS may need to hire a PR team to improve their image. As we reported in March, during a visit to the IRS campus in Philadelphia, IRS Commissioner Charles P. Rettig and Deputy Secretary of the Treasury Wally Adeyemo announced their plan to eliminate the IRS backlog in 2022. Last week, the Treasury Inspector […]
Expertise released their list of the Best Accountants in Philadelphia for 2022. Wouch Maloney CPAs and Business Advisors is proud to be listed in the Top 18. The goal for Expertise.com is to connect people with the best local experts. Philadelphia accountants are scored on more than 25 variables across five categories including: Availability Qualifications […]
The most recent issue of Contractor is now available. This month, the cover story focuses on infrastructure projects. In this article, a review of the bidding methods for federal contracts is provided. With the signing of the Infrastructure Investment and Jobs Act in late 2021, things are looking up for federal construction projects making it […]
Welcome to the April 2022 edition of Word to the Wise. We are in the last week of tax season and thought we would share some final “words to the wise” is this issue. Our feature article, Common April Tax Questions Answered, includes a Q&A format of four of the most frequently asked questions by […]
In this edition of our Valuation and Litigation newsletter, the feature article is about discounting majority interests. The article provides a detailed overview of a recent U.S. Tax Court case that addressed the valuation of majority interests in five real estate holding companies for estate tax purposes. Other articles include: Maginnis v. Maginnis: Court addresses […]
This week, proposed increases to corporate taxes and wealth taxes were announced by the White House. On Monday, the White House released the proposed budget of the U.S. Government for Fiscal Year 2023. While the proposed tax increases are targeted at billionaires and corporations, at this moment, keep in mind the budget items need to […]
Last week, the IRS released a reminder that all taxpayers, not just taxpayers who engaged in a transaction involving virtual currency, must answer the virtual currency question at the top of Form 1040, Form 1040-Sr and Form 1040-NR with a yes or no response. The question reads as follows: “At any time during 2021, did […]
On Thursday, March 10, 2022, Deputy Secretary of the Treasury Wally Adeyemo and IRS Commissioner Charles P. Rettig visited the Philadelphia IRS campus to deliver their plan to eliminate the IRS backlog in 2022. As we reported on January 12, 2022, the IRS had a backlog that included: Highlights of the plan In order to […]
We want to remind everyone that the IRS will have face-to-face help available tomorrow, Saturday, March 12, 2022, at specific locations throughout the country. As we reported last month, the IRS is working to improve the client experience, which includes in-person meetings with no appointment required on the second Saturday of the month. The following […]
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