Final regulations clarify the treatment of qualified improvement property in FDII and GILTI, and foreign tax credit transition rules address post-2017 NOL carrybacks to pre-2018 tax years.
The IRS reports that its Transcript Delivery System is down for business taxpayers who reported information related to COVID-19 employment tax relief on Form 941, Employer’s Quarterly Federal Tax Return.
The proposal would raise tax rates for corporations and individuals and make many other changes to the Internal Revenue Code.
Tax season was difficult for several reasons. What did tax practitioners think of the software they used to prepare returns? Learn more in this podcast with transcript.
Information reporting on Form W-2 or a separate statement allows self-employed taxpayers to claim qualified sick leave and qualified family leave equivalent credits.
The allowances for determining deductions for lodging, meals, and incidental costs are slightly higher than before.
Bonus: The percentages for all 13 products, including a breakdown of their usage among firms ranked by ranges of numbers of preparers, in the 2021 tax software survey.
See how the brands compare in CPAs’ annual assessment of their tax preparation programs.
Tax Court holds against a former Pennsylvania legislator despite his never having been the organization's officer or employee.
A decedent's marriage is held valid based on the place-of-celebration rule.
Tax deadlines are pushed back 60 days after federally declared disasters.
IRS does not acquiesce to Sixth Circuit’s holding on split-dollar regs. ... COBRA premium assistance credit clarified ... Bank deposit could escape tax levy by hours
The AICPA recommended in a letter to Senate tax-writing leaders eight ways to improve the deduction for qualified business income under Sec. 199A.
Global supply chain problems caused by the COVID-19 pandemic have made it difficult for US companies to replace inventories, potentially subjecting them to additional taxable income. The AICPA has requested relief under Sec. 473.
An AICPA vice president shares some key areas of focus for accountants in the infrastructure bill recently passed by the Senate.
The IRS updated the list of accounting method changes to which automatic change procedures apply.
A CPA shares how her organization made remote job candidates feel more comfortable thanks to an improved interview process.
Certain employers have until Nov. 8 to submit a required worker certification request to a designated local agency for purposes of the work opportunity credit.
Under the safe harbor, an employer can exclude certain amounts received from other coronavirus economic relief programs in determining whether it qualifies for the employee retention credit based on a decline in gross receipts.
The Infrastructure Investment and Jobs Act, passed by the Senate on Tuesday, contains a few tax provisions, most notably it would end the employee retention credit on Sept. 30. It would also require information reporting about cryptoasset transfers.