Taxes

The Innovation Awards are presented to honor new or recently enhanced technologies that benefit tax and accounting professionals and their clients through improved workflow and efficiencies, increased accessibility, enhanced collaboration, greater accuracy, or other means.

More than 4 million student loan borrowers are enrolled in the Biden Administration’s new income-driven repayment plan, including nearly 332,000 borrowers in California.

Compliance Tracker ensures accurate and timely tax filings, reducing risk of non-compliance and penalties by incorporating trusted data compiled and maintained by Bloomberg Tax’s in-house tax analysts.

The accumulated earnings tax must be paid in addition to the regular corporate income tax.  Despite recent threats by Congress to raise the ante, this penalty tax remains at the 20% rate.

Download this 2023 Tax Season Readiness Guide to help you stay informed, save time on planning, and align your team for efficiency.

The guidance is being issued as part of the IRS's efforts to provide additional certainty to states and their residents regarding the federal income tax consequences of state payments made to taxpayers.

These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments.

Under proposed changes from the Dept. of Labor, any salaried employee making less than $55,000 per year, or $1,059 per week, would be eligible for overtime. That would be a significant jump from the current cutoff at $35,568 per year.