Withum

JANUARY 31, 2024

Withum’s global advisory and accounting network, HLB International, has been named the Best Cross-Border Collaboration for Tax Solutions Global 2023 by Capital Financial International (CFI). Learn more about Withum’s International Tax Services.

Tax 111

Tax accounting and finance Legal tax services 111

CPA Practice

FEBRUARY 17, 2023

This is good news for tax preparers because they can account for the human element by teaching employees and customers effective security strategies. In 2023, these efforts should teach people: Phishing scam trends. Billions of phishing emails are sent daily and 90 percent of cyberattacks start with a phishing scam.

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TaxConnex

JUNE 9, 2022

Starting July 1, 2023, cities will be prohibited from requiring the licenses. Instead, the state tax department will be responsible for collecting information from remote sellers and providing that information to local jurisdictions. For gross receipts from the sale of newly taxed services prior to Jan. 25 this year.

Sales 246

Sales Tax Colorado Massachusetts 246

Cherry Bekaert

NOVEMBER 14, 2023

Contributor: Chelsea Payne , Senior Manager, Tax Services As the end of the year approaches, strategic planning remains crucial for taxpayers looking to optimize their financial positions and set the stage for a strong start in the upcoming fiscal year.

Real Estate 109

Real Estate tax planning Construction Tax 109

Cherry Bekaert

FEBRUARY 12, 2024

The Financial Accounting Standards Board (FASB) released final guidance regarding income tax disclosures on December 14, 2023. 2023-09 (ASU 2023-09) applies to all entities subject to income taxes and is intended to enhance the transparency and usefulness of income tax disclosures.

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Going Concern

OCTOBER 3, 2023

Percentage change is in parentheses and rounded to two decimal places.

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Withum

JANUARY 12, 2023

These relief provisions provide an extended due date to May 15, 2023, for disaster-affected taxpayers to file returns. For more information about the IRS’ relief provisions for California taxpayers affected by this winter’s storms, please see IRS CA-2023-02 and IRS Alert IR-2023-03. Contact Us. Let’s Chat.

California 122

California Tax tax return payroll tax 122

Withum

OCTOBER 3, 2024

2023 Federal Form 1120 (C Corporations) April 15, 2023 October 15, 2024 May 1, 2025 2023 C Corporation Tax Payments April 15, 2023 June 15, 2023 September 15, 2023 December 15, 2023 N/A The IRS noted payments related to 2023 returns are not eligible for the extra time because they were due last spring before the hurricane occurred.

South Carolina 130

South Carolina North Carolina tax preparation income tax 130

CPA Practice

OCTOBER 3, 2023

Starting salaries for roles in tax services are projected to increase an average of 3.6% in 2024, while audit and assurance services will see starting salaries likely go up an average of 3.8% The results were: Tax services Senior manager/director: 7.8% Manager: 0% Senior tax associate: 4% Tax associate: 2.8%

public accounting 121

public accounting Account accounted accountant 121

Withum

FEBRUARY 27, 2023

The last updated news release on February 24, 2023, states that affected taxpayers now have until October 16, 2023 to file various individual and business tax returns and make tax payments. What Items Are Now Extended Until October 16, 2023? The IRS also announced that the Oct. Who Is an Affected Taxpayer?

California 119

California tax return Nevada payroll 119

Withum

OCTOBER 6, 2022

Last week, the Federal Government released guidance allowing certain federal tax filings and payments to be extended until February 15, 2023, for the victims of Hurricane Ian. Businesses (including tax-exempt organizations) whose principal place of business is located anywhere in Florida can also obtain relief.

Government 124

Government income tax tax return Florida 124

CPA Practice

NOVEMBER 22, 2023

KBKG , a provider of tax services for CPAs and businesses, has identified three changes that the IRS has implemented; each one could have strong impacts on businesses. Those still looking to file an ERC claim can continue to do so under the strict guidance of the IRS and through a certified tax professional, like KBKG.

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TaxConnex

JULY 12, 2022

The bill also extends the sunset date of the sales tax exemption for the purchase of high-technology data center equipment to Dec. Illinois requires retailers to notify customers of the suspension of the state 1% rate of sales and use tax on retail sales of groceries, effective July 1 through June 30, 2023. required statement?on

Sales 246

Sales Tax Oklahoma Illinois 246

Cherry Bekaert

MAY 28, 2024

Contributors: Tony Konkol, Manager, State & Local Tax North Carolina Senate Bill No. 508 (Session Law 2024-1) was signed into law on May 15, 2024 and provides an extended July 1, 2024 due date for partnerships to make a tax year 2022 pass-through entity tax (PTET) election. House Bill No.

North Carolina 104

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ThomsonReuters

MAY 3, 2023

A tax services director in Washington D.C. says that the Treasury Department’s proposal to clarify the tax treatment of on-demand pay arrangements makes it “clear” that the IRS is concerned with the constructive receipt issue of this trending employee benefit.

Construction 59

Construction tax services Tax payroll 59

Withum

JANUARY 14, 2022

Withum, a national top 25 accounting and advisory firm, announced today that Pat Walsh , Partner and Market Leader for Withum’s National Tax Services Practice, will succeed CEO and Managing Partner Bill Hagaman , after his term ends in 2023.

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Withum

JANUARY 24, 2023

Changes Impacting Retirees RMD Changes Increases RMD age from 72 to 73 starting January 1, 2023, and to 75 starting January 1, 2033. Decreases RMD penalty from 50% to 25% starting in 2023. The penalty can be reduced to 10% for IRA owners who take the RMD within a specified time period and submit a corrected tax return.

Start-ups 26

Start-ups tax return Tax Education 26

Withum

SEPTEMBER 1, 2023

On August 30, 2023, the IRS announced relief from certain tax filing and payment deadlines for individuals and businesses in parts of Florida that were affected by Hurricane Idalia. The tax relief postpones various tax filing and payment deadlines that occur from August 27, 2023, through February 15, 2024 – the postponement period.

Tax 98

Tax tax return Florida payroll 98

Withum

FEBRUARY 6, 2023

and India Perspectives This webinar will include an overview and highlights of the 2023 India budget announced on February 1, 2023. State and Local Tax Services Rajesh Tripathi – Principal at Withum, Market Leader – U.S. India Corridor The post On-Demand Webinar: The 2023 India Budget appeared first on Withum.

New York 52

New York tax services Tax 52

CPA Practice

DECEMBER 14, 2023

AICPA Recognizes 11 Outstanding Contributors to Forensic and Valuation Fields at Annual Conference AICPA recently honored the contributions of 11 finance professionals during the 2023 AICPA & CIMA Forensic and Valuation Services Conference held in Las Vegas in November. Dallas, TX Nathan Dean, CPA/CFF/ABV — FTI Consulting, Inc.,

forensic accounting 49

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Withum

FEBRUARY 20, 2024

It is your first step so that we can help you create a strategy to minimize taxes for the coming year, as well as develop a long-term tax strategy to benefit your retirement plan, family, and heirs. Let’s Chat The post 2024 Tax Pocket Guide appeared first on Withum.

Tax 119

Tax tax planning tax services 119

Withum

AUGUST 14, 2024

Affected individuals and businesses, therefore, will have until February 3, 2025, to file tax returns and to pay any taxes that were originally due during the postponement period. Quarterly estimated income tax payments normally due on September 16, 2024, and January 15, 2025.

South Carolina 126

South Carolina North Carolina Georgia Tax 126

Withum

FEBRUARY 1, 2024

The refundable child tax credit would continue to increase by $100 per year through Dec. The bill would also expand low-income housing credit and financing, disaster tax relief, and U.S. trillion for the fiscal year ending 2023. As reference, the federal budget deficit totaled nearly $1.7

Tax 124

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CPA Practice

APRIL 7, 2023

Examples of civil injunctions obtained by the Tax Division over the last year include: On Jan. The court also held in contempt J and M Tax Services, LLC, a return preparation business that Alty and Mathurin created post-injunction to continue their return preparation business.

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CPA Practice

FEBRUARY 5, 2024

Kevin Bong – 2023 “20 Under 40” Influencer Cofounder AuditFile www.auditfile.com Recent Career Highlights This past year, AuditFile’s excellence was recognized when it was named #1 Audit Engagement Tool in the Readers’ Choice Awards. See all of the 2023 “40 Under 40” and “20 Under 40” honorees.

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Cherry Bekaert

MAY 21, 2024

Listen to learn more about: 02:41 – Federal private aircraft regulation background 06:36 – Key IRS tax issues 09:24 – Tax reporting key areas 11:14 – Disallowance of expense deductions 14:22 – IRS pilot audits 17:37 – Questions to consider before purchasing a private aircraft Recent Tax Beat Episodes Inbound U.S.

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Withum

JANUARY 16, 2024

Extension of 100 Percent Bonus Depreciation: Bonus depreciation was reduced to 80% for qualified property placed into service after December 31, 2022, and to 60% for qualified property placed into service after December 31, 2023. For the 2023 taxable year, a 179 expense of $1.16

Tax 118

Tax Tennessee New Jersey Massachusetts 118

CPA Practice

JULY 17, 2024

A federal court in the Eastern District of New York issued a permanent injunction yesterday against a Brooklyn, New York, tax return preparer. 5, Jacob pleaded guilty to aiding and assisting in the preparation of a false tax return.

tax preparation 111

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CPA Practice

OCTOBER 2, 2023

With an economy still trying to gain more certain footing, businesses facing new market conditions, and a constantly evolving IRS, the business and tax advisors at KBKG have identified three of the most significant changes the IRS has implemented, each of which can have strong impacts on businesses. This impacts the Sec.

Tax 105

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Withum

DECEMBER 7, 2023

On November 28, 2023, the Tax Court ruled that the exception from self-employment tax for limited partners does not apply to limited partners who actively participate in the partnership’s business operations. It concluded that their level of participation was inconsistent with an exception from self-employment tax.

Tax 121

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inDinero Tax Tips

MARCH 17, 2023

You can file for free through the mail, online for a fee through an IRS approved software provider, or have it done for you by a tax services provider. The 2023 version of the form can be downloaded here. We’ll break down what it is, how it’s changing in 2023, and everything else you need to know. Where to mail form 941?

payroll tax 52

payroll tax payroll Agriculture Tax 52

inDinero Tax Tips

MARCH 17, 2023

You can file for free through the mail, online for a fee through an IRS approved software provider, or have it done for you by a tax services provider. The 2023 version of the form can be downloaded here. We’ll break down what it is, how it’s changing in 2023, and everything else you need to know. Where to mail form 941?

payroll tax 52

payroll tax payroll Agriculture Tax 52

CPA Practice

OCTOBER 3, 2023

With an economy still trying to gain more certain footing, businesses facing new market conditions, and a constantly evolving IRS, the business and tax advisors at KBKG have identified three of the most significant changes the IRS has implemented, each of which can have strong impacts on businesses. This impacts the Sec.

Tax 103

Tax cpas audit tax services 103

Withum

JULY 18, 2022

Out-state sellers, also called remote sellers, must collect and remit sales tax on goods and services sold in all states, even if they do not have a physical presence. To complicate matters, all states that impose a sales tax, except Missouri, which will be in effect in 2023, enacted an economic nexus standard of its own.

South Dakota 118

South Dakota Sales Tax Missouri 118

Withum

MARCH 7, 2024

Is the IRS Still Processing ERC Claims, and What’s the Status of the Processing Moratorium It Announced on September 14, 2023? The IRS announced it would not process ERC claims filed after September 14, 2023, but at that time it was still working through a sizeable backlog of claims that were filed before that date.

Tax 126

Tax income tax tax return audit 126

Withum

JULY 31, 2024

Last year, when the IRS announced a moratorium on the processing of ERC claims filed after September 14, 2023, its backlog was about 600,000 claims. The IRS has not announced when it will begin paying claims that were filed after September 14, 2023, the date of the processing moratorium. So, what has happened since last September?

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CPA Practice

JANUARY 8, 2024

Building off the success of the 2023 tax season that saw significant improvements following passage of the Inflation Reduction Act, the 2024 filing season will continue reflecting the focus on improving services to taxpayers. Most tax return preparers provide outstanding and professional tax service.

Tax 133

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