Business tax

Tax season launches

Despite another year of uncertainty about congressional passage of retroactive “extender” provisions, CPAs’ tax season can benefit from these tips and resources.

PTO and constructive receipt

Paid-time-off plans can create problems with the timing of, and cross-year accounting for, payroll tax liabilities.

Employment tax returns lag in e-filing

A low e-filing rate for employment tax returns in the Form 94x series is the biggest obstacle to achieving the goal of 80% electronic filing of all major types of tax returns.

Deducting tickets to sporting events

For an employer to claim a deduction, an employee must engage in a bona fide business transaction during the event on behalf of the employer and meet several other requirements.

Health reform prohibits most reimbursement plans

Transition relief continues through 2015 for S corporation 2% shareholder-employees, but stand-alone health reimbursement arrangements and employer payment plans can be subject to penalties.

Emerging tax issues cause due-diligence problems

Speaking at an IRS Nationwide Forum in Fort Washington, Md., the deputy director of the IRS Office of Professional Responsibility warned practitioners that they should exercise due diligence when advising clients on emerging tax issues.

No Sec. 199 deduction for these activities

The IRS Large Business & International (LB&I) Division issued guidance to its employees listing activities performed “at the retail level” that it said do not produce property that is “manufactured, produced, grown, or extracted,” as defined by Regs. Sec. 1.199-3(e).

SPONSORED REPORT

Building client loyalty with payroll services

In this report, CPA experts detail their tactics for performing successful payroll services, how to mitigate risk in the process, and the impact payroll can have as a value-added service.

PODCAST

Using drones to enhance audits

Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.