Income Tax
Latest News
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
![Coronavirus Checks Payments Stimulus](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/Coronavirus_Checks_Payments_Stimulus.5e9e272780f5f.png)
SSA, SSI, VA & Railroad Retirement Recipients Must Act by Wednesday to Add Children to Coronavirus Stimulus Payment
Their $1,200 payments will be issued soon and, in order to add the $500 per eligible child amount to these payments, the IRS needs the dependent information before the payments are issued. Otherwise, their payment at this time will be $1,200 and, by law,
![AICPA_new 2019_1_.5b1fd9ff31925](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/AICPA_new_2019_1_.5b1fd9ff31925.5e9e25af846f8.png)
AICPA Calls for More IRS Guidance in CARES Act Employee Retention Credit Provisions
The American Institute of CPAs (AICPA) has submitted seven recommendations to the Department of the Treasury and the Internal Revenue Service (IRS) calling for much needed clarity and guidance in how small businesses should apply certain employee ...
![businesstaxservices_1_.56b7731687830[1]](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/businesstaxservices_1_.56b7731687830_1_.5e9deab4866dd-768x530.png)
CARES Act Changes Rules for Business Interest Deductions
The new Coronavirus Aid, Relief, and Economic Security (CARES) Act provides some much-needed relief for businesses hindered by a cap on business interest deductions. Icing on the cake: The tax changes are retroactive to 2019.
![Coronavirus Checks Payments Stimulus](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/Coronavirus_Checks_Payments_Stimulus.5e9b8076a99d8.png)
Where’s My Coronavirus Stimulus Check? Here’s How to Track It
“Get My Payment” will show the projected date for when a deposit is scheduled, similar to the “Where’s My Refund” tool many taxpayers have previously used.
![Coronavirus Checks Payments Stimulus](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/Coronavirus_Checks_Payments_Stimulus.5e9a14c77f344.png)
VA Benefits Recipients Will Receive Coronavirus Stimulus Payments, No Action Required
Veterans and their beneficiaries who receive Compensation and Pension (C&P) benefit payments from VA will receive a $1,200 Economic Impact Payment with no further action needed on their part. Timing on the payments is still being determined.
![IRS_logo](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/IRS_logo.5e9a113ce54da.png)
IRS Offers Guidance on Paid Sick Leave and Family Leave During Coronavirus
The FFCRA covers the costs of this paid leave by providing small businesses with refundable tax credits. Certain self-employed individuals in similar circumstances are entitled to similar credits.
![Bloomberg PPP Graphic 1](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/04/Bloomberg_PPP_Graphic_1.5e9919e27ad12-768x543.png)
Chart Shows which States Received the Most PPP Loans
During the first 10 days of the federal government’s small-business rescue program, the spigot was wide open in Nebraska. Firms there got enough money to cover about three-fourths of the state’s eligible payrolls. It was a different picture in New York.
![Covid Economy Taxes](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/Covid_Economy_Taxes.5e98c285e2ba6-768x576.png)
Coronavirus: How Accounting Firms Are Adjusting Their Business Operations
Specifically, researchers asked a group of 15 influential individuals working in local, regional and international public accounting firms about when they recognized the seriousness of the crisis, how the pandemic has affected their client and ...