Following a partly sunny summer forecast for the U.S. economy, the outlook among CPA decision-makers again clouded in the latest quarterly survey released Thursday by AICPA & CIMA, together as the Association of International Certified Professional Accountants.… Read More »More CPA decision-makers hesitate to hire amid economic concerns
The IRS is advising over 20,000 taxpayers that their claims for the employee retention credit are being disallowed because entities either did not exist or did not have paid employees during the period of eligibility… Read More »ERC disallowance letters sent to 20K+ taxpayers
The US central bank will hold off on interest rate cuts until at least July 2024 and deliver less relief than financial markets expect, according to leading academic economists polled by the Financial Times. While… Read More »Economists see Fed keeping rates at 22-year high until at least July
U.S. applications for jobless benefits ticked up last week, but the overall number of people in the U.S. collecting unemployment benefits fell after hitting its highest level in two years last week. Unemployment benefits claims… Read More »Filings for jobless claims tick up modestly, continuing claims fall
1. Southern Gaza fighting escalates Israeli forces intensified their ground and air assault in southern Gaza on Monday in a new phase of their war against Hamas. The United Nations warned that the fighting was forcing… Read More »10 things you need to know today: December 5, 2023
As the year draws to a close, practitioners have an opportunity to reach out to clients and discuss possible financial steps. The following highlights some of the more important year-end considerations. Inflation Reduction Act credits,… Read More »End-of-year financial and tax considerations
(Reuters) – U.S. Federal Reserve officials appear on track to end the year with interest rate hikes as a thing of the past but with a coming challenge over when and how to signal a… Read More »Fed, with rates at a peak, now looks at a hold and an eventual pivot lower
After a historic run-up in inflation, Americans are now starting to see something they haven’t in three years: deflation. To be sure, deflation—that is, falling prices—is largely confined to appliances, furniture, used cars and other goods.… Read More »Goods Deflation Is Back. It Could Speed Inflation’s Return to 2%.
Profits have been making a comeback. That makes a comedown for the U.S. economy seem less likely. The Commerce Department on Wednesday reported that before-tax corporate profits rose 1.1% from a year earlier in the third… Read More »How Rising Profits Could Prevent the Economy From Faltering
Treasury Secretary Janet Yellen said she sees a good chance of the US economy achieving a soft landing, with the unemployment rate — which has ticked up in recent months — averting a sharp increase.… Read More »Yellen Says Soft Landing Looks Good, Unemployment May Level Off