Recently, the American Institute of CPAs (AICPA) has contacted the Internal Revenue Service (IRS) with a series of recommendations on how non-fungible tokens (NFTs) should be handled for tax purposes. For the uninitiated, NFTs are digital assets that have been tokenized via a blockchain. They are assigned unique identification codes and metadata that distinguish them …
The American Institute of CPAs (AICPA) recently recommended a number of ways to simplify and clarify the current tax code in the upcoming year to the Department of the Treasury and the Internal Revenue Service. These recommendations aim to streamline the tax filing process and provide a more straightforward framework for taxpayers. Promoting Simplicity in …
AICPA Urges Tax Code Simplification as Key Priority Read More »
What do you do if you are suddenly giving a substantial budget increase? The American Institute of CPAs (AICPA) thinks the IRS should focus more on taxpayer service. In a letter to the Internal Revenue Service (IRS) and the Department of the Treasury, the AICPA is urging the IRS to place greater emphasis on taxpayer …
IRS Urged to Focus on Customer Service with New Funds Read More »