Twenty-nine state tax departments responded they will follow the federal treatment of such forgiveness or cancellation under section 1160(i) of the CARES Act and will not treat these amounts as taxable income. An executive summary of the survey, which ...
The American Institute of CPAs (AICPA) has submitted recommendations to the Internal Revenue Service (IRS) to simplify and improve the administrative adjustment request (AAR) process under the centralized partnership audit regime (CPAR).
The Internal Revenue Service is looking to hire motivated acquisition professionals interested in providing America’s taxpayers top quality service. The agency’s Procurement office plans to fill 80 vacancies nationwide, many of which are contract ...
The Treasury Department and the Internal Revenue Service have unveiled an online Non-filer Sign-up tool designed to help eligible families who don’t normally file tax returns register for the monthly Advance Child Tax Credit payments, scheduled to ...
Running an accounting practice has always come with unique challenges, but the COVID-19 pandemic brought unprecedented challenges, as well as some less-obvious opportunities.
The National Association of Tax Professionals (NATP) is offering two completely free webinars on IRS refund adjustments and estimated tax payments for 2022. These webinars are available to anyone interested, not just NATP members.
Both the child and dependent care credit as well as the paid sick and family leave credit were enhanced under the ARP, enacted in March to assist families and small businesses with the fallout of the COVID-19 pandemic and recovery underway.
The Internal Revenue Service reminds taxpayers who pay estimated taxes that they have until June 15 to pay their estimated tax payment for the second quarter of tax year 2021 without penalty.