Tax

In their feedback, the tax practitioners highlighted key priorities in each of the three areas in which reports are being submitted to Congress. The letter outlines recommendations for providing taxpayers access to empowered IRS employees; timely ...

Tax filing season is officially underway! On January 27, just a few days before the Super Bowl, the IRS announced in a press release that it had started to accept and process 2019 tax returns, as scheduled (IR-2020-20, 1/2720). The deadline for filing a 2019 tax return and paying any tax that is due remains […]

As part of an ongoing effort to improve service for the tax-exempt community, the Internal Revenue Service has revised Form 1023 to allow electronic filing.

This chart shows an estimated date for when a taxpayer is likely to receive their refund, based on the information we have now, and using projections based on previous years. If your IRS income tax refund is delayed, ...

Massachusetts Governor Charlie Baker’s 2021 budget proposal includes a plan to require businesses to remit sales tax more quickly. This is the third time he’s pushed for faster sales tax remittance since taking office in 2015. Will the third time be the charm? The latest plan applies to electronically remitted sales and use tax, local option […]

AICPA President and CEO, Barry Melancon, CPA, CGMA, considers the collaborative efforts of the organizations involved a key indicator of the broad support for the recommendations outlined in the letter. “Stakeholders from across the profession are ...

The Internal Revenue Service says it wants tax-exempt organizations to know about recent tax law changes that might affect them. The Taxpayer Certainty and Disaster Tax Relief Act, passed on Dec. 20, 2019, includes several provisions that may apply to ...

The switch to a pass-through entity, as opposed to a C corporation, where long-term double taxation can be expensive, has other benefits, such as reducing the chances of an audit if the business owners file their taxes as a partnership versus a single own