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Small Business Jobs Act Approved – DSJ Breakdown

On June 13th, The House Ways and Means Committee approved the “Small Business Jobs Act”. This is a big victory for small businesses all around the country, as contractors and other gig workers are able to raise capital, without the … Continue reading

 

Tax Preparation & AI – Weighing the Pros & Cons

As the accounting industry has evolved over time, many innovations and advances in technology have been made in order to make bookkeeping and tax preparation more efficient. Whether it was the inception of the adding machine, P.C. computers, laptops, calculators, … Continue reading

 

IRS Struggles to Reconcile Child Tax Credit Payments

The IRS was in a frenzy trying to reconcile the monthly payments of the Child Tax Credit that the agency issued in 2021 to the number of recipients that reported they received the CTC credit. According to a new report … Continue reading

 

Inflation Continued to Decrease in May – DSJ Breakdown

According to the U.S. Bureau of Labor Statistics, inflation reached the lowest level in two years during the month of May. Despite this being the case, there are still certain consumer goods that remain expensive in today’s economy. Economists … Continue reading

 

IRS Paper Problem Remains Prominent

National Taxpayer Advocate Erin Collins believes that despite the IRS improving drastically this tax season, there is still plenty of more work to be done in order for the agency to continue improving. During an AICPA conference, Erin Collins … Continue reading

 

Supreme Court Ruling Gives IRS Power to Access Private Tax Information

A recent Supreme Court ruling favoring the Internal Revenue Service gives the agency a lot more power than it had previously. The latest ruling now gives the IRS the power to access private information on the taxpayer, without the … Continue reading

 

U.S. Adds 339k Jobs in May – DSJ Breakdown

Despite it being another month of raised interest rates and inflation, the month of May was still a productive month for the United States when it comes to adding jobs to the economy. Employers rejoiced during the month … Continue reading

 

Accountant Gets Two Years in Prison For Filing False Tax Returns

A  Jefferson City, Missouri tax preparer has been handed a prison sentence of over two years after he was convicted of filing false tax returns for himself and others. Josiah Mator Jr is a U.S. citizen who immigrated from Liberia … Continue reading

 

Ensuring a Healthy Workplace – DSJ Breakdown

During the ups and downs of life that we all go through, prioritizing mental and physical health is always on the agenda of many people. Something that many people can find difficult is prioritizing mental and physical health in the … Continue reading

 

Debt Ceiling Deal Will Cut IRS Funding

A bipartisan deal to raise the debt ceiling and impose spending caps has been made by the United States government. Part of this deal involves reallocating approximately $20 billion of the $80 billion of funding that the IRS was set … Continue reading