Withum

AUGUST 25, 2022

On August 24, 2022, the IRS issued Notice 2022-36 to announce broad-based penalty relief for certain failure to file penalties with respect to tax returns for taxable years 2019 and 2020 as long as they are filed by September 30, 2022. Penalties under §6698(a)(1) & (2) for form 1065 (partnership tax returns). Contact Us.

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FusionCPA

NOVEMBER 24, 2020

It's that time of the year again where businesses are preparing their end-of-year tax. Corporate income tax is the third largest source of revenue for the federal government. While the amount collected for corporate income tax pales when compared to individual income tax or payroll tax, it still accounts for 1.1

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ThomsonReuters

DECEMBER 29, 2022

Companies are facing an ever-increasing burden of corporate tax compliance and the pace of complexities shows no sign of slowing. Helping companies ensure compliance by outsourcing for business processes represents a growth opportunity for today’s tax and accounting firms. . “ percent from 2022 to 2030.

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xendoo

JANUARY 12, 2022

You’ll thank yourself for filing business taxes according to the prescribed deadlines. Not only will this save you from sweating over a shoebox full of receipts, but making on-time tax payments will save you from any late fees or interest payments. What Is the Business Tax Filing Deadline for 2022?

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TaxConnex

DECEMBER 1, 2022

There’s always something changing in the world of tax, especially sales tax. An Arizona business challenging Louisiana’s remote seller sales tax structure is appealing to the U.S. The five worst states for business based on sales tax are Alabama, Washington, Louisiana, California and Tennessee. Back to court.

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Going Concern

OCTOBER 18, 2024

Why ‘Trust’ in Data is Even More Important in an Era of Global Taxes [ PwC ] We are in a time of unprecedented change in the global tax and compliance landscape — exemplified by the OECD’s Pillar Two. million in false deductions, causing a tax loss of about $2.3 Tomasello sold approximately $8.5

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Wellers Accounting

FEBRUARY 22, 2022

Beth Whitmore FCCA explains exactly what corporation tax means for your business and the reliefs and allowances you need to explore.

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inDinero Tax Tips

MARCH 3, 2021

Whether you file your business’s taxes yourself or you have help, making sure your tax returns are right and on time is a lot easier when you. By outsourcing your business’s accounting and taxes with inDinero , you’re covered on both fronts. Are you still working on your 2019 business taxes? Partnership Tax Deadlines.

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xendoo

AUGUST 9, 2021

It is also necessary to meet government regulations and for proper tax preparation. Corporate tax preparation . Tax preparation services. Among its services, Xendoo includes: Tax preparation and consulting. Tax preparation (with the option to include personal taxes for a fee). Financial statements .

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inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . The IRS announced a plan to increase audits for small businesses by 50% for the 2020 tax year. Check out these blogs: Year-End, Capital Gains Tax and Iffy Choices.

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Withum

MARCH 21, 2022

Careful analysis of the employee retention credit (“ERC”) provided under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and the 199A limitations set forth under the Tax Cuts and Jobs Act of 2017 (“TCJA”) may lead to unexpected tax consequences this tax season.

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LyfeAccounting

JANUARY 30, 2021

?. Tax season 2021 is here! And if you have been adhering to our suggestions or taken advantage of the tax system in 2020 then you likely know what to expect and excited for this tax year. On the other hand, if you’ve paid very little attention to some of the tax changes or programs then you’ve got a lot to catch up on.

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Accounting Today

SEPTEMBER 20, 2023

The top three states had an average change percentage of 215.76% between 2021 and 2022.

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Withum

NOVEMBER 17, 2022

2022 Tax Brackets and Rates. 2022 Long-Term Capital Gains Tax Bracket. Year-End Tax Strategies for Individuals. Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. DEDUCTION AMOUNT: $19,400. Taxable Income Over.

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Withum

MARCH 31, 2021

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ThomsonReuters

JUNE 22, 2021

Indirect tax specialists in North America and Europe expect to see more digitized tax filing and real-time remittance requirements in the next two years — and they lack the technology and operational processes to meet these demands. That’s a key finding from the 2021 State of the Corporate Tax Department report from Thomson Reuters.

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Accounting Today

MAY 28, 2024

About 140 countries signed on to the outline of a groundbreaking pact in 2021 to reform the way large multinational companies are taxed.

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ThomsonReuters

JULY 9, 2021

Nearly half of the corporate tax departments participating in a new survey say they are under-resourced — and the problem is more pronounced among companies in North America than in Europe. The report is based on a survey of 821 tax specialists. Technology and automation lead the strategic response for indirect tax teams.

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Withum

APRIL 28, 2022

For the latest news and updates on Nebraska state and local tax. Nebraska Implements Corporate Income Tax Rate Reductions. 873 which reduces Nebraska’s corporate income tax rate over the next five years. The return and payment deadlines are extended to May 17, 2021. of Revenue, 03/19/2021.).

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CPA Practice

JANUARY 12, 2024

By Caitlin Reilly, CQ-Roll Call (TNS) A bipartisan, bicameral $70 billion tax agreement taking shape on the Hill is drawing mixed reviews, pointing to potential challenges ahead for Senate Finance Chair Ron Wyden and Ways and Means Chairman Jason Smith. said, referring to the child tax credit. “In Thom Tillis, R-N.C.,

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Accounting Today

JANUARY 19, 2024

The city cites corporation business tax "deficiencies" for 2017 through 2021 and is also seeking interest and penalties from the failed bank.

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Going Concern

JANUARY 2, 2023

” In 2021, the board issued 10 new accounting standard updates (ASUs); in 2020, 11 were issued; in 2019, 12; and in 2018, 20, according to the board’s website. So what do we know about the accounting rule makers and the leaders of the foundation that oversees them, who could all of a sudden have a big say in tax policy?

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Accounting Today

DECEMBER 13, 2023

Italy's finance police had claimed that the company failed to pay taxes on about €3.7 billion of rental revenue and claimed that the company owed about €779 million after an audit of the tax years from 2017 to 2021.

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CPA Practice

JULY 16, 2024

Grant Thornton Names Jim Wittmer as Managing Principal of Atlantic Coast Region Grant Thornton, one of America’s largest brands for audit, assurance, tax, and advisory services, has named Jim Wittmer the managing principal of the firm’s Atlantic Coast region. Baltimore, Pittsburgh and Philadelphia, where he is based.

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ThomsonReuters

AUGUST 30, 2021

Even COVID-19 hasn’t derailed the march of globalization as multinational corporations continue to chase opportunities across borders — which requires their indirect tax teams to keep up with compliance obligations across multiple jurisdictions. How technologically sophisticated is your indirect tax team?

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Going Concern

APRIL 12, 2024

ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries? With less than a week left before the federal tax filing deadline, Doug Blattman is in panic mode.

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Withum

MAY 5, 2023

For the latest news and updates on North Dakota state and local tax May 5, 2023 North Dakota Enacts Personal Income Tax and Property Tax Relief Authored by: George Gonzales , MST and Brandon Mejia On April 28, 2023, Governor Doug Burgum signed L.2023, Effective for tax years after December 31, 2022, L.2023,

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Menzies

SEPTEMBER 2, 2022

This was due to end in April 2021 and will now come to an end in April 2025. Overall, despite the AIA limit reducing and the removal of super-deduction in April 2023, there are still some generous tax treatments for energy efficient vehicles. Donna Kenyon. View profile.

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Withum

MAY 4, 2022

New York’s fiscal year 2023 budget bill that was enacted into law significantly expands the benefits of the state’s pass-through entity tax (“PTET”) for many businesses. Some of the major PTET highlights include amplifying the benefits for resident S corporation shareholders, as well as establishing a New York City PTET.

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SkagitCountyTaxServices

AUGUST 26, 2021

One thing you can expect from me come rain or shine is to keep you in the loop on changes to all things tax-related. There are some important changes to small business tax deductions rolling out, and not all deductions apply to all Skagit County businesses. But first, let’s briefly talk 2021 Infrastructure bill.

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ThomsonReuters

JANUARY 17, 2023

Tax season can be a confusing and challenging time of year for businesses. This can be especially true for businesses who employ nonresident aliens, as nonresident alien tax can become complicated. . What is the importance of an income tax treaty? What tax form does a nonresident alien file? What is a nonresident alien?

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Wellers Accounting

MARCH 11, 2022

Tom Biggs ACA CTA , highlights the different considerations and strategies that need to be reviewed for effective end of year tax planning.

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ThomsonReuters

AUGUST 25, 2021

Not all companies think about indirect tax automation in the same way, and different companies are at different stages in their technological journey. Watch our free on-demand webinar, Taking tax automation to the next level: Practical tips for automated companies. The 3 levels of indirect tax automation.

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Cherry Bekaert

OCTOBER 9, 2023

Whether you prioritize high returns, low fees, tax benefits, predictable timelines, fund flexibility or other factors, each type of real estate fund has its positive and negative consequences to consider. Tax Advantages – REITs do not have to pay a corporate tax, so there is a higher available payout for investors.

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ThomsonReuters

DECEMBER 17, 2021

In 2022, tax authorities around the world hope to finalize the myriad details that will shape a Global Minimum Tax on multinational corporations — if they can reach consensus and make it happen. Reuters noted that this is “an extremely tight timeframe given that previous international tax deals took years to implement.”.

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CPA Practice

JUNE 20, 2023

By Laura Weiss, CQ-Roll Call (TNS) House Democrats’ latest proposal to expand the child tax credit includes a new feature: a $2,000 payment for newborn babies. The two parties have been battling over the tax benefit since before a larger version of it lapsed after 2021. The new legislation from Democratic Reps.

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ThomsonReuters

DECEMBER 19, 2020

The Tax Cuts and Jobs Act (TCJA) changed the rules for deducting net operating losses in 2017. An NOL is the excess of a business’s tax deductions for the tax year over its taxable income for that year. For tax year 1, A has $100,000 of gross income and $125,000 of tax deductions. What is an NOL?

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