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Corporate tax departments find themselves with too few resources

Accounting Today

Nearly half the leaders of corporate tax departments believe they're severely under-resourced when it comes to technology and hiring, according to a recent survey.

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Navigating Potential Changes to Corporate Tax Rates

Insightful Accountant

Small business owners and tax practitioners are debating whether to elect S corporation status before the potential corporate tax rate increase in 2025 due to the expiration of TCJA provisions.

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IESBA sets ethics standards for corporate tax planning

Accounting Today

The International Ethics Standards Board for Accountants has unveiled a set of ethical standards for business tax planning in response to complaints over tax avoidance by multinational companies.

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Billionaire, corporate tax hikes will be focus of Biden State of the Union

Accounting Today

President Joe Biden will propose increasing the minimum tax rates paid by major U.S. and multinational corporations to 21% and eliminating breaks for companies with high-paid executives in his election-year State of the Union address on Thursday night.

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Buffett says US corporate taxes likely to rise to tame deficit

Accounting Today

taxes are likely to rise as lawmakers look to narrow the federal deficit, Warren Buffett said, as Washington prepares for major tax negotiations next year.

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Tax partners matter more than firms when it comes to corporate taxes

Accounting Today

Accounting firms are less important than the partner leading the team in terms of the impact on the business's effective tax rate and the probability it will face an audit.

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60% of Corporate Tax Professionals Believe in Value of GenAI

Insightful Accountant

A new 'Generative AI' report from Thomson Reuters shows 60% of corporate tax professionals now believe Gen AI should be applied to their work, up from 53% in 2023.