Taxes
Latest News
IRS Shares Five New Warning Signs of Incorrect ERC Claims
‘Unpredictable’ Election Clouds Tax and Economic Policy View
Sanders May Bring His Populist Brand to Powerful Senate Finance Committee
Accountant Gets Jail Time For Charging $3 Million on New Jersey Employer’s Credit Card
Regulatory Risks Surge for Financial Firms Due to Remote Work With Intensified Use Of Digital Communications
"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..."
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 ...
COVID Pushes Tax into Spotlight as Strategy for Resilience
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 ...
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.
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.
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.
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.
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...