State and local income taxes imposed on and paid by a partnership or S corporation on its income are allowed as a deduction by the partnership or S corporation in computing its non-separately stated taxable income or loss for the taxable year of ...
National EIP Registration Day is part of the agency’s further concerted push with partners across the country to make sure every eligible American has registered before the Nov. 21 deadline to receive their Economic Impact Payment this year.
Tax professionals will need to perform proactive tax planning to not just determine what amount of taxes will be due for estimated payments, but how to re-orient the business and individual finances to reduce tax liability.
The consequences primarily affect taxpayers who, before the pandemic, worked in one state and now work in a different state, whether from home or a remote office location.
Bloomberg Tax’s team of approximately 100 tax analysts—tax attorneys and CPAs—along with reporters and correspondents across the globe deliver timely analysis, real-time news coverage, practice tools, and guidance.
As the tax and accounting profession shifts more towards advisory services, leading firms are leveraging technology to automate low value work like data entry, categorization, file exchange and cleanup. The following article discusses some of the top too
As the data digitization of tax now moves into its third phase, we are seeing clear gaps emerge related to the massive assets counted under the header of Tax Credits & Incentives (C&I.) So many organizations fail to appropriately prioritize C&I that ...
The scam text message states: “You have received a direct deposit of $1,200 from COVID-19 TREAS FUND. Further action is required to accept this payment into your account. Continue here to accept this payment …”