Author: Editor

Ninety percent of tax leaders say they are invited to weigh in on business decisions before they are made, and their recommendations carry significant weight, according to a new survey.The 2025 BDO Tax Strategist Survey polled 300 senior tax leaders at companies with $250 million to $3 billion in revenue in May. It found that CFOs’ original growth strategies for 2025 included plans for mergers and acquisitions, product and service changes, and expansive initiatives. But increased economic uncertainty and trade and tax policy changes — like the One Big Beautiful Bill Act — are forcing organizations to shift focus to…

Customers arrive at a Cava restaurant in New York City on June 22, 2023.Brendan Mcdermid | ReutersCava on Tuesday lowered its full-year forecast for same-store sales growth after a disappointing second quarter.For the full year, Cava now anticipates same-store sales growth of 4% to 6%, down from its prior range of 6% to 8%.Shares of the company plunged more than 20% in extended trading. The stock has fallen 40% this year, including the after-hours move.Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: 16 cents vs. 13 cents…

The Internal Revenue Service has overhauled its technology modernization plans in response to deep reductions in funding and staffing, and new priorities under the Trump administration.The Treasury Inspector General for Tax Administration released a report Monday on how the IRS has been spending the funds it received from the Inflation Reduction Act of 2022. The IRS was originally supposed to receive nearly $80 billion over 10 years from the IRA for improvements in taxpayer service, technology and enforcement, but that funding has since been cut in half, especially on the enforcement side. The IRS initially received $79.4 billion in supplemental…