In response to a request for comments about planned revisions to Circular 230, Regulations Governing Practice Before the IRS, the AICPA sent a letter making recommendations to the director of the IRS’s Office of Professional Responsibility.
This podcast with transcript shares analysis of the latest IRS guidance on the employee retention credit and takes a look at CPA executives’ sentiment about the economy.
In a letter, the AICPA asked the IRS to postpone until June 15, 2021, all 2020 federal income tax and information returns and payments (e.g., extension and estimated payments) originally due April 15, 2021.
An AICPA expert details some of the factors that could affect changes to filing dates.
The IRS issued guidance on the employee retention credit in effect for qualified wages paid after March 12, 2020, through Dec. 31, 2020, including how it interacts with Paycheck Protection Program loans.
Here’s a chance to test your knowledge of the rules for deductibility for business-related food and beverages and/or entertainment and how much, if any, of a given expenditure can be claimed as an ordinary and necessary expense of conducting a trade or business under Sec. 162.
After taxpayer confusion, final regulations bring clarity.
The Tax Court held that the taxpayer had no ownership interest that would generate passthrough losses.
Highly paid employees require some exempt organizations to pay an excise tax.
The taxpayer had a reasonable prospect for recovery in the tax year, the Tax Court holds.
Eleventh Circuit reverses the Tax Court on 'Swiss cheese' reserved rights.
IP PIN opt-in goes nationwide ... ‘Tax insurance’ premiums are nondeductible ... Employer van pools get COVID-19 relief
Pandemic relief, tax extenders, and much more were included in yearend legislation.
Financial advisers can lead the way in an investment landscape upended by COVID-19.
The stimulus bill passed by the House contains many tax provisions, including a new round of economic stimulus payments, tax credits for COBRA continuation coverage, and expansions of the child tax credit, the earned income credit, and the child and dependent care credit.
The AICPA has written to Treasury and the IRS, calling for certainty about the April 15 tax filing and payment deadline and for underpayment and late-payment penalty relief during the COVID-19 pandemic.
The IRS issued guidance on how employers can amend their health flexible spending arrangements and dependent care assistance programs to respond to the coronavirus pandemic.
This express version of the JofA podcast offers insight into mobile workforce legislation, a recent FASB update, and more.
The Senate voted to make room in the FY 2021 budget resolution for mobile workforce legislation. Details of the budget still must be negotiated, but the vote creates the possibility that mobile workforce legislation, which the AICPA strongly supports, will be enacted this year.
The IRS issued guidance providing a safe harbor under which eligible educators who have unreimbursed expenses for personal protective equipment, disinfectant, and other supplies used to prevent the spread of COVID-19 in the classroom can deduct those expenses as educator expenses.