Update on states moving ahead with PTETs

States continue to move ahead with implementing new passthrough entity taxes as a workaround to the $10,000 cap on the federal deduction of state and local taxes.

Line items

AICPA encouraged by IRS $80 billion strategic operating plan ... Proposed regs. identify microcaptive reportable transactions ... Safe-harbor language issued for amending conservation easement deeds ... IRS unveils $80 billion spending plan ... No basis step-up for grantor trust assets if not in grantor’s estate ... NFTs as collectibles: IRS issues guidance and seeks comments

Opening doors to expand tax and accounting careers

At Intuit, Joe Lillie leads an organization of 10k+ seasonal and full-time tax and accounting professionals who interact live with consumers through virtual engagements, helping them to maximize their tax deductions and outcomes while using our TurboTax product. He also develops and leads strategies that fuel growth for Intuit’s live services offerings on an AI-driven technology platform, resulting in more seamless experiences that deliver impact and high consumer confidence.

Where to find June’s flipbook issue

The Journal of Accountancy is now completely digital. 





Leases standard: Tackling implementation — and beyond

The new accounting standard provides greater transparency but requires wide-ranging data gathering. Learn more by downloading this comprehensive report.