Income Tax
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Airwallex Partners with Float for Bill Payment Automation for Canadian Businesses
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AICPA Says PPP Needs to Be Extended
The American Institute of CPAs (AICPA) has called upon Congress to extend the Paycheck Protection Program’s (PPP) March 31 loan application deadline. AICPA believes that Congress can still support small businesses and non-profits by ...
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2021 Financial Planning? Three Unexpected Tax Saving Actions to Take
The pandemic has impacted many influential tax rules. At the same time, the new presidential administration has implemented additional changes, making tax planning even more challenging.
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AICPA Urges IRS to Extend 2021 Tax Deadline
In a letter sent earlier last month, the AICPA called attention to the hardship that millions of taxpayers and tax practitioners are facing while making good faith efforts to comply with their tax obligations. The AICPA called for relief from ...
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Businesses Reminded to Report Large Cash Transactions
To help businesses prepare and file reports, the IRS created a video on How to Complete Form 8300 – Part I, Part II. The short video points out sections of Form 8300 for which the IRS commonly finds mistakes and explains how to accurately complete ...
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House Passes $1.9 Trillion Stimulus Package: $1,400 Payments to Most Taxpayers
The House passed a $1.9-trillion COVID-19 relief package early Saturday, pushing forward the aid millions of Americans have waited for as the country continues to grapple with the pandemic that has killed half a million Americans and crippled the economy.
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Don’t Leave Money on the Table: Employee Retention Credit Modified and Extended
Good news for small business owners! The Consolidated Appropriations Act, signed into law on December 27, 2020, has expanded and clarified CARES Act benefits for employers.
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IRS Still Working on Last Year’s Tax Returns, May Extend 2021 Tax Deadline
Amid recent requests by the AICPA and National Association of Tax Professionals that the IRS extend the 2021 income tax filing season, millions of Americans are still challenged by a backlog at the IRS of income tax returns from last year.
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National Association of Tax Professionals Asks IRS to Extend 2021 Tax Season
NATP recently surveyed tax pros to find out what their preference for the 2021 Tax Day would be. More than 70% of respondents indicated their support of a filing date later than the current April 15.