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Tax and financial planning news from around the web: August 8 – 12, 2022

Written on Aug 12, 2022

Research: Corporate tax departments at risk of falling behind in technology capabilities 
Consistent with findings from the past two annual surveys, tax reform remains the top strategic challenge in 2022, with a particular focus on government legislative activity across the board. Departments report feeling even less prepared technologically to deal with coming regulatory changes than they did last year. 

Cryptocurrencies, NFTs, and state tax – there's lots that we don't know yet 
The increased use of cryptocurrencies and the growing NFT marketplace will require governments and their taxing authorities to consider how to apply existing tax law, and whether it should be expanded and/or modified. Unfortunately, state taxing authorities seldom adopt standardized, uniform approaches when addressing tax policy and procedure.