Bloomberg Tax

No formula? No problem. The AI Expression Generator within our Workpapers tool enables users to input their requirements in plain language and receive an AI-generated formula output. Learn more about the latest enhancements that further integrate and streamline tax workflows across our suite of solutions: https://lnkd.in/eR7VPJJf

This year's Bloomberg Tax Leadership Forum brought together some of the industry's most forward-thinking minds to discuss the ongoing global tax reform. In a panel moderated by Claire Tarrant on challenges and opportunities associated with OECD Tax's Pillar Two, we were joined by Anne Gordon of the National Foreign Trade Council. As the Vice President of International Tax Policy, Gordon represents the NFTC at international forums such as the OECD and the UN and is a frequent commenter on international tax issues. In this video, Gordon discusses potential advancements in US tax policy ahead of this year's presidential election. For more insights from Gordon, watch the full replay of the Forum: https://lnkd.in/enNR5UkD

Accounting regulators and industry leaders are drafting reforms to state CPA licensing rules in an effort to expand the profession’s ranks by providing new pathways that could include skills acquired outside a classroom to earn the credential. Draft changes to model legislation that serves as a template for state accounting regulations could be ready as soon as September for public comment. The goal is to finalize recommended licensing changes before legislative sessions begin next year, said Susan S. Coffey, CPA, CGMA, CEO of public accounting for the Association of International Certified Professional Accountants. Read more from Amanda Iacone: https://lnkd.in/eYj6hFvw

Automation presents an opportunity to transform the workpapers process. Download our ebook to discover how automation can save time, reduce risks, and increase flexibility in your workpapers: https://lnkd.in/dTcZrh-9

Have questions about the differences between GILTI and OECD Tax's Pillar Two initiative? Our new report is here to help, download your copy for a comparison of GILTI and Pillar Two, and an outline of options available to help address overlapping taxes: https://lnkd.in/evKHrJHu

Whatever your questions are about AI in tax and accounting, we want to hear from you! Let us know your most burning questions in a comment below.

The Internal Revenue Service is confronting heightened calls from GOP lawmakers to bring more of its employees into the office. Republican lawmakers say constituents’ calls aren’t getting answered and are suggesting that telework and remote work may be part of the problem. These criticisms come as lawmakers seek to curb remote work flexibility across the federal government and get more information on how the federal workforce is using telework. Read more from Erin Slowey and Chris Cioffi: https://lnkd.in/ewNrEVfT 

Happy #NationalInternDay 🎉!   At Bloomberg Industry Group, we support young professionals through hands-on learning, close collaboration with industry leaders, and providing invaluable exposure and skill development opportunities to thrive in their careers.   Today, we are highlighting our news interns, whose fresh perspectives and coverage on a wide range of critical issues in tax, law, and government, have made a splash this summer!   Dive into their stories below: Lilah Burke: https://lnkd.in/eZx5U97f Gabe Castro-Root: https://lnkd.in/djR8MWfc Thomas Gleason: https://lnkd.in/d_jF9p7V Olivia Gyapong: https://lnkd.in/d9iJD_8t Avani Kalra: https://lnkd.in/dfKxjKCS Caitlin McLean: https://lnkd.in/dEVX-8ig Alexis Waiss: https://lnkd.in/dbDhtAwP Owen Racer: https://lnkd.in/dDFWi2yN

Newly released Internal Revenue Service final and proposed rules that allow workers to keep their money in retirement accounts longer are generating confusion about when certain savers must start drawing down those funds to avoid tax penalties. People with 401(k), 403(b), and individual retirement accounts can now keep assets in those plans past the age of 70½ without paying heavy excise taxes on withdrawals thereafter under rules finalized July 18 and scheduled to take effect on Sept. 17. The higher ages that trigger mandatory distributions are staggered by birth year. Learn more about the new rules in an explainer from Ben Miller: https://lnkd.in/dPwktEY6

OECD Tax's Pillar Two is beginning to impact the APAC region, coming into effect in many countries in 2024 and 2025. Pillar Two establishes a 15% minimum effective tax rate (ETR) for large multinationals through the Subject to Tax Rule and Global Anti-Base Erosion (GloBE) rules, which calculate and impose additional top up taxes if the ETR falls below the minimum. Download our roadmap for a country-by-country look at the status and effective dates for IIR, UTPR, and QDMTT across the Inclusive Framework jurisdictions: https://lnkd.in/eTz79RrM