The Internal Revenue Service will begin issuing refunds this week to eligible taxpayers who paid taxes on 2020 unemployment compensation that the recently-enacted American Rescue Plan later excluded from taxable income.
Reach out to your clients as you learn about new legislation or guidance to give them your insights and the digestible version of what it means for them. This is your chance to cut through the technical jargon with easy-to-digest insights and showcase ...
After news of the cyberattack on the Colonial Pipeline broke May 7, 2021, consumers from New Jersey to Texas put the pedal to the metal to get to the gas station and fill their tanks. Supply is draining; gas prices are rising; and tempers are flaring.
The American Institute of CPAs (AICPA) has submitted recommendations on international tax positions to the Senate Finance Committee and the House Ways & Means Committee that address legislative proposals and statutory provisions requiring modification. The AICPA’s international tax recommendations correct technical problems in the Internal Revenue Code and simplify existing provisions. The technical recommendations submitted […]
For some people, submitting their tax return to the IRS is a relief as they put the paperwork out of sight, and out of mind, until next year. Others recognize that tax time is the perfect time to plan for the future while all the documents are readily...
The pandemic, coupled with new tax laws, pandemic relief efforts, late or missing guidance, changing deadlines and more has further complicated an already complex tax system. These changes have left taxpayers and tax practitioners struggling to ...
Every year, private foundations in the U.S. are required to file a highly specialized and complex tax form: the 990-PF. For foundations that operate on a calendar year, this return is due on May 17, 2021.
The Internal Revenue Service is reminding tax-exempt organizations that operate on a calendar-year (CY) basis that certain annual information and tax returns they file with the IRS are due on May 17, 2021.