IRS April 15, 2025
Rajiv Uppal, who has served as CIO since January 2024, is leaving the agency, adding to the growing list of IRS leaders who are planning their exits as a result of the Trump administration's plan to reduce the federal workforce.
March 3, 2021
As you gear up for tax season, it’s also a good idea to assess your strengths and weaknesses organizationally. This year, perhaps to a greater degree than ever, I predict the demand for strong, experienced finance leaders who can navigate the C-suite...
March 2, 2021
For 2020, the employee retention credit can be claimed by employers who paid qualified wages after March 12, 2020, and before January 1, 2021, and who experienced a full or partial suspension of their operations or a significant decline in gross receipts.
March 2, 2021
The Internal Revenue Service says that interest rates will remain the same for the calendar quarter beginning April 1, 2021. The rates will be: 3% for overpayments [2%t in the case of a corporation]; 0.5%for the portion of a corporate overpayment exceeding $10,000; 3% for underpayments; and 5% for large corporate underpayments. Under the Internal...…
March 2, 2021
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 ...
March 2, 2021
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.
March 2, 2021
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 ...
March 2, 2021
"Firms are facing an urgent need for much more comprehensive supervision of the broadest possible array of digital communications and collaboration tools," continued Marsh. "Regulators have made it clear that failure to do so will trigger significant..."
March 2, 2021
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 ...
March 1, 2021
While an economic downturn had long been anticipated, no one expected a pandemic would plunge the globe into economic chaos with such exacting scope and speed. When Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in ...
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February 27, 2021
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.
February 26, 2021
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.
February 25, 2021
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.