AICPA lauds letter to Treasury and IRS urging penalty relief deadline extension

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The American Institute of CPAs (AICPA) applauded a bicameral letter, led by US Senate Finance Committee Ranking Member Mike Crapo (R-ID) and US House Ways...

The extension crisis and the IRS slowdown

If you feel you have filed more extensions this past filing season than in any of your previous years in practice, you are not...

How to increase your tax planning profit margin

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Tax planning and consulting services are one of the highest value-based services we can offer as tax professionals. All our clients have a common...

Will penalty relief be extended?

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The recently announced late filing relief was extended to millions of returns from 2019 and 2020. If late filed returns are filed by Sept....

Form 7203 – Do you need it?

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How many times have we inherited an S Corporation return with no basis information? S Corporations were not previously required to keep basis records...

Don’t Miss the NOL Carryback

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The 2020 Cares Act reinstated the five-year carryback rule for Net Operating Losses that were incurred after Dec. 31, 2017, and before Jan. 1,...

5 things your clients should know about WOTC

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What if you could help your small business clients save money on their taxes and better compete for workers in a very tight labor...

Security Summit: Tax pros can help clients battle identity theft risk

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The Security Summit partners today concluded a special summer education campaign by outlining steps tax professionals can take to help clients from becoming statistics...

Updated instructions for the painful K2/K3s

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Does anyone remember the horrendous start to the 2022 tax season or have we all blacked that out at this point? CPAs across the...

Will there be year-end tax legislation?

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Whether the mid-term results were what you expected or not, for tax professionals the big question looming in the last six weeks of the...

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5 ways to give back to your clients this season

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The holiday season is in full swing. That gives many of us ways to be generous and give back to our communities and those...

What will Congress pass?

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With mere weeks left in the working year, the current lame-duck Congress is under pressure to negotiate on taxes. Republicans want to see extensions...

Confusion over Work Opportunity Tax Credit Program prevents progress

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To get some more details on the Work Opportunity Tax Credit (WOTC) program and its significance to employers in today’s competitive job market, Tax...