Income Tax
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60% of CFOs Say Their Organizations are Ready to Implement and Work With AI, but Only 35% are Using AI in Finance
A Scalable Talent Model Can Be Much More Than a Safety Net for CPA Firms in Need of Skilled Talent
Labor Challenges Persist Among Mostly Confident Business Owners, According to CBIZ Index
How PTO Policies Can Attract Top Talent
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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.
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AICPA Says IRS Needs to Give Penalty Relief to Taxpayers Affected by Pandemic
Though the IRS has emphasized that taxpayers and tax professionals should assume that the deadline will remain, it has also been reported that the IRS will not commit to keeping an April 15 filing deadline if Congress approves another round of economic...
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AICPA Comments on Adjustments Attributable to Conversions from S Corps to C Corps Under TCJA
The American Institute of CPAs (AICPA) submitted comments to the Internal Revenue Service (IRS) to address the need for guidance concerning adjustments attributable to conversions from S corporations to C corporations under section 481(d) of the TCJA...
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IRS Extends Tax Deadline to June 15 for Texas Winter Storm Victims
The tax relief postpones various tax filing and payment deadlines that occurred starting on Feb. 11. As a result, affected individuals and businesses will have until June 15, 2021, to file returns and pay any taxes that were originally due during this ...
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Supreme Court Releases Trump Tax Returns
The U.S. Supreme Court put a new New York grand jury on the brink of getting eight years of Donald Trump’s tax returns and other financial records, ending months of delay by rejecting his bid to keep the information private.
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March 1 is Tax Deadline for Farmers and Fishermen
Americans with income from a farming or fishing business can avoid making any estimated tax payments by filing and paying their entire tax due on or before March 1, according to the IRS.
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Congress: Next Stimulus Checks Likely to Go to Same Who Received Last Payment: $1,400
House Democrats are proposing to limit the next round of Covid-19 relief payments to households earning less than $200,000, after criticism that President Joe Biden’s $1.9 trillion stimulus package would benefit the rich.
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The Retirement Saver’s Income Tax Credit for 2021
Are you or someone in your family—say, a child who recently graduated from college—embarking on a new career? It’s not too early to start saving for retirement. In fact, it’s generally recommended that you begin retirement planning once you’re ...