IRS News: Refunds for Unemployment Tax

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The IRS announced they will be sending refunds to the approximately 13 million taxpayers affected by the tax law change regarding unemployment compensation received.

IRS issues guidance on taxability of dependent care assistance programs for 2021, 2022

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The Internal Revenue Service today issued guidance on the taxability of dependent care assistance programs for 2021 and 2022, clarifying that amounts attributable to...

IRS to recalculate taxes on unemployment benefits; refunds to start in May

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To help taxpayers, the Internal Revenue Service announced yesterday that it will take steps to automatically refund money this spring and summer to people...

Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment...

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The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year...

Congress passes COVID-19 relief bill

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Congress passed President Biden's $1.9 trillion COVID-19 relief bill Wednesday afternoon. The bill will now go to the White House for Biden’s signature.  Click here...

PPP 2.0: Helping Your Client Apply for Loan Forgiveness

The Paycheck Protection Program (PPP) was a lifeline for the millions of small businesses that received forgivable loans. But now, time might be ticking...

IRS Guidance on the Employee Retention Credit (ERC)

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The IRS published additional guidance on the Employee Retention Credit (ERC) this week. This guidance is helping advisors navigate the waters of taking the...

SBA rules PPP borrowers can use gross income

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The U.S. Small Business Administration (SBA) issued new Paycheck Protection Program (PPP) rules that allow self-employed individuals who file Form 1040, Schedule C,  Profit...

Biden-Harris Administration Increases Lending to Small Businesses in Need & Announces Changes to PPP

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The official White House website released a fact sheet surrounding the Biden-Harris Administration's several changes to the PPP to aid small businesses amid the...

2021 IRS Nationwide Tax Forum and Expo Will Be Virtual

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The IRS has announced that the 2021 IRS Nationwide Tax Forum and Expo will be virtual. In addition to a series of live streamed...

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It’s not the CRM, it’s you — How to make tech work for you

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Scene: You already have tried multiple pieces of software to solve a problem and each time you’re sold a bill of goods that does...

Child Tax Credit woes continue

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Not all that surprising to tax professionals, the IRS finally has announced it has sent incorrect notices to many married filing joint couples who...

Why your practice can benefit from more structure

CPA firms typically have been organizations with well-defined structure. As COVID drastically changed working environments, more remote work and flexible schedules started shifting how...