Payroll

Policy analysts have stated that taxpayers would save roughly the same 20.5% in tax on their contributions to their 401(k)s. This works out to close to $4,000 for a 45-year-old making the maximum annual contribution. It’s not yet clear if the credit ...

Also, as part of IRS’s continued focus in this area, the IRS has become aware of variations of the abusive micro-captive insurance transactions. Examples of these variations include certain Puerto Rico and offshore captive insurance arrangements that ...

Rimilia is a provider of accounts receivable automation solutions that enable organizations to control cash flow and cash collection in real time. Using artificial intelligence (AI) and machine learning, the SaaS (Software-as-a-Service) platform ...

The Internal Revenue Service Chief Counsel has released Chief Counsel Notice 2021-001 (CC Notice), which contains information regarding Chief Counsel’s settlement initiative for certain pending Tax Court cases involving abusive syndicated ...

Reports from the U.S. Treasury Department have begun surfacing indicating that the federal agency expects to step up the pace of processing Payroll Protection Program (PPP) loan forgiveness applications later this week or early next week. Both the Nation’s Restaurant News and The Wall Street Journal are reporting that “a Treasury Department spokesperson” confirmed that […]

On the joint 2019 return filed by Biden and his wife, Dr. Jill Biden, the couple paid almost $300,000 in federal taxes on approximately $985,000 of adjusted gross income (AGI), resulting in a relatively high effective tax rate of 29.5%.

Paychex’s PPP Loan Forgiveness Estimator assists business owners with understanding how much of their PPP loan may be forgiven by the federal government. When accessing the tool, CCH AnswerConnect users will be asked to input a variety of ...

From all indications, the transformation of the accounting profession to a more advisory focus is already well under way. Taking a learning organization approach will help ensure that your firm develops a comprehensive client advisory mindset.