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S Corporations: Tax Preparation, Tax Planning, and the Benefits of Professional Tax Help

MyIRSRelief

S Corporations: Tax Preparation, Tax Planning, and the Benefits of Professional Tax Help S Corporations , often referred to as S Corps, are a popular business structure in the United States, particularly among small to medium-sized businesses. However, navigating the tax landscape for S Corps can be complex.

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Proactive measures to address the corporate tax talent crisis

ThomsonReuters

Is this affecting your departments’ ability to stay ahead of evolving tax requirements and keep pace with emerging technologies? Our recent Corporate Tax Report survey revealed significant talent shortages within tax departments over the past year, expanding upon the rippling organizational effects.

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Maximizing tax department efficiency: The case for higher technology budgets

ThomsonReuters

← Blog home Corporate tax departments are facing mounting pressures due to a talent shortage and increasing regulatory complexities, such as Pillar 2 and Global Minimum Tax (GMT) requirements. Corporate tax departments are often stretched thin, making them susceptible to audits and penalties.

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Friday Footnotes: The Profession’s Ethics Dilemma; Co-Pilot Called Out in Court For Calculations; Audit Uncovers File Called ‘Twilight Zone’ | 10.18.24

Going Concern

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. Sign up for Always-On Recruiting to get more great candidates like these in your inbox every week.

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Amending corporation tax returns 1120 or 1120S business to 1120X or 1120SX

MyIRSRelief

Business taxpayers should timely correct and amend their corporate business tax returns to assure inaccuracy of penalties being assessed, and of course to avoid a possible audit and its significant impact on you the taxpayer. Amendments may be made to either tax forms 1120 or 1120S.

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Enrolled Agent Near Me: Comprehensive Tax Services for Individuals and Businesses

MyIRSRelief

An Enrolled Agent (EA) is a federally-authorized tax practitioner who has technical expertise in the field of taxation and is empowered by the U.S. Department of the Treasury to represent taxpayers before the Internal Revenue Service (IRS) for tax issues including audits, collections, and appeals.

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Research: The Talent Shortage is Starting to Take Its Pound of Flesh From Corporate Tax Departments

Going Concern

This morning, Thomson Reuters released new research that reveals both corporate tax and global trade departments state they are under-resourced for technology and talent. This, naturally, is increasing risk in the form of penalties and audits. Shout-out to the 11% of respondents who chose “don’t know.”