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Woman realizes that her service dog is “manipulating” her Chipotle Stock Alert: Get Ready for the Launch as CMG Reports Earnings Today

IRS warns of new scams targeting tax professionals. The IRS and Security Summit are urging tax professionals to be wary of scams designed to steal business and taxpayer information. Identity thieves have new and evolving approaches to steal confidential information from tax professionals. These include posing as new clients, using phishing emails, and employing elaborate phone call and text tactics. The IRS has cautioned tax professionals to be cautious when receiving email attachments or links to websites that the sender claims contain their tax information. These attachments and websites can collect the tax professional’s information and load malware onto the tax professional’s computer.

Intuit plans to lay off 10 percent of its workforce as part of an AI-focused reorganization plan. The tax preparation and financial software company that owns TurboTax and QuickBooks will lay off 1,800 employees. Intuit expects to hire at least that many in fiscal 2025 as it integrates artificial intelligence into its products and services.

Tennessee’s largest companies enjoy numerous tax exemptions. Tennessee has no state income tax and low property and business taxes. It also offers a slew of “major tax exemptions” for things from jet fuel to industrial water use, according to Tennessee Lookout. These will cost the state government an estimated $5.5 billion in fiscal year 2025 and local governments another $1.5 billion, the report said.

California lawmakers drop the tax portion of a November ballot initiative. The measure proposed lowering the required voter approval threshold for certain local special tax and bond measures from two-thirds to 55 percent, but lawmakers removed the language Tax information Reports (paywall).

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