IRS expands business tax accounts
Accounting Today
DECEMBER 18, 2023
Individual partners and individual shareholders of S corps can now get a business tax account.
This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Accounting Today
DECEMBER 18, 2023
Individual partners and individual shareholders of S corps can now get a business tax account.
CPA Practice
DECEMBER 18, 2023
The Internal Revenue Service has launched the second phase of a new online self-service tool for businesses that expands business tax account capabilities and eligible entity types. Available at IRS.gov/businessaccount , the new business tax account is a key part of the agency’s continuing service improvement initiative.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
The Growth Architect: How Financial Leaders are Unlocking Potential
Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors
CPA Practice
OCTOBER 25, 2023
20 that it has launched new business tax accounts , with the initial version geared toward sole proprietors. As part of its continuing effort to improve taxpayer services and make the agency more technology-friendly, the IRS said on Oct.
CPA Practice
AUGUST 22, 2024
The IRS said earlier this week that it’s continuing to expand features within its online self-service tool for businesses, launched last October as part of the agency’s service improvement initiative funded under the Inflation Reduction Act. To set up a new business tax account or for more information, visit Business Tax Account.
CPA Practice
NOVEMBER 25, 2024
If you’re a business owner or a tax professional who represents one, the IRS wants to hear from you. 22 that it’s conducting virtual focus groups starting in December to gather feedback on the business tax account (BTA) online self-service tool. “We The agency said in an email on Nov.
Accounting Today
OCTOBER 20, 2023
The Internal Revenue Service is making improvements to its online tax professional accounts and hiring more accountants as it ramps up enforcement.
CPA Practice
NOVEMBER 20, 2023
(TNS) The new business tax account from the IRS , unveiled in late October, is expected to expand next year with a slate of new features that should make tax time a little smoother for entrepreneurs.
Accounting Today
NOVEMBER 3, 2023
The service's development of its newly introduced business tax accounts and recent improvements in its tax pro accounts could be jeopardized if funding is cut.
MyIRSRelief
DECEMBER 15, 2022
Our Los Angeles based tax firm, led by Mike Habib, EA, represents and helps business taxpayers get compliant with tax & accounting service, contact us today at 1-877-78-TAXES [1-877-788-2937]. What is income tax preparation service? What is business tax preparation service?
Accounting Today
AUGUST 26, 2024
The Internal Revenue Service continues to expand the things business taxpayers can do with BTA.
xendoo
APRIL 8, 2022
Many small business owners miss out on tax savings simply because they aren’t aware of what tax deductions are available. As professional accountants, we know all the small business tax deductions that can save you money, and we’re sharing them in this tax deductions checklist. . Business insurance
RogerRossmeisl
SEPTEMBER 9, 2024
The cash method often provides significant tax benefits for those that qualify. However, some businesses may be better off using the accrual method. Therefore, you need to evaluate the tax accounting method for your business to ensure that it’s the most beneficial approach.
Accounting Today
DECEMBER 12, 2024
The Internal Revenue Service is adding more features to the Tax Pro Account, Business Tax Account and Individual Online Account, and starting a new enforcement campaign.
Withum
DECEMBER 18, 2024
Withums Year-End Tax Planning Resource Center offers tips, legislative updates, and tax-saving opportunities for individuals and businesses. Start Planning Our Income Tax Accounting Expertise Preparing U.S. Start Planning Our Income Tax Accounting Expertise Preparing U.S.
Withum
JANUARY 19, 2024
Joel, Partner, and Billy, Senior Manager, were chosen for the directory because of their industry expertise, community involvement and trustworthy reputations in the DC business world. As tax accountants, their specialties include business tax , private client services , and estate planning and trusts.
CPA Practice
NOVEMBER 20, 2024
Accounting and Tax Pricing Benchmark report from Ignition, which surveyed 345 owners and decision-makers in accounting firms, adds that most firms are planning to increase fees across services by 5% or 10% in 2025. 90% plan to increase fees for individual tax returns. 87% plan to increase fees for business tax returns.
xendoo
JANUARY 30, 2023
Minimizing your company’s tax burden can help maximize profits. One way of doing this is through business tax credits. Leveraging the right tax credits can save your business thousands of dollars in taxes each year. How do you know which tax credits will save you the most money?
Patriot Software
NOVEMBER 1, 2022
Separating accounts helps companies organize accounting records, avoid overspending, and accurately file taxes. You may decide to open a general business checking or savings account, payroll account, or business tax account.
xendoo
JANUARY 16, 2023
Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.
CPA Practice
JUNE 9, 2024
More than 5,000 tax, accounting and financial professionals participated in-person and virtually in AICPA Engage 2024, the largest annual educational, technology and networking event. Engage 2024 was held June 2-6, 2024, at the Aria Resort and Casino in Las Vegas. Here is a selection of these technologies.
Withum
APRIL 5, 2022
Joel and Brian, Partners, and Billy, Senior Manager, were chosen for the directory because of their industry expertise, community involvement and trustworthy reputations in the DC business world. As tax accountants, their specialties include business tax , private client services , and estate planning and trusts.
Accounting Insight
FEBRUARY 7, 2023
Whether you’re a practice or a technology vendor in the tax and accounting industry, investments in people and technology are going to feature prominently in 2023. Here are eight predictions that we’re likely to see unfolding in the tax and accounting business and technology landscape for 2023.
MyIRSRelief
OCTOBER 11, 2024
If you’re searching for an “Enrolled Agent near me,” you’re likely looking for someone who can provide a wide range of tax services. Get help today by calling us at 1-877-78-TAXES [1-877-788-2937]. Business Tax Preparation Business tax preparation is another critical service offered by Enrolled Agents.
Going Concern
NOVEMBER 7, 2024
Ignition has released its 2024 US Accounting and Tax Pricing Benchmark report and it reveals that the 325 Ignition customers surveyed are going all-in on fee increases in 2025. 57% of accounting firms plan to increase fees across all services in 2025. Or at least half-in.
MyIRSRelief
MARCH 1, 2022
Bookkeeping is a very important part of any business and unless you have a dedicated department to handle yours, you should consider hiring an outside tax/accounting firm. Top 5 Reasons to hire a tax/accounting firm to service your businesses bookkeeping needs.
ThomsonReuters
JANUARY 28, 2022
If you spend a lot of time hiring temporary employees just to help with tax season, you could be missing out on a lot of potential talent—those employees who are looking for long-term positions. Having a steady flow of business throughout the year means you can keep great employees on staff. Business tax preparation.
xendoo
FEBRUARY 15, 2022
Navigation business tax requirements and preparation. Looking for available deductions to lower your tax burden. Helping to manage capital gains taxes. Sorting through tax advantages of life events. A tax consultant may work with individuals, businesses, or both. Helping to Mitigate Business Taxes.
CPA Practice
JANUARY 25, 2023
PKF O’Connor Davies, one of the nation’s largest accounting, tax and advisory practices, has announced that Archambault & Associates has joined the organization, effective January 1, 2023.
xendoo
FEBRUARY 23, 2022
In addition to considering how much an accountant costs , you’ll also want to consider how long an accountant will take to do taxes compared to trying to do it yourself. How do you know when to bring in a tax professional? How Much Time Does it Take an Accountant to Prepare Taxes? Tax Accounting Software.
Accounting Today
APRIL 15, 2024
The International Ethics Standards Board for Accountants has unveiled a set of ethical standards for business tax planning in response to complaints over tax avoidance by multinational companies.
Reckon
JUNE 21, 2022
Hot on their lips is the nail-biting question: what if I don’t have enough coin in the bank to pay my tax bill? Most sole traders will know that they’ll need to file their business tax return to the ATO between 1 July and 31 October. Failing this, use the ATO’s income tax estimator calculator to get a solid estimate.
CPA Practice
JUNE 1, 2023
As made clear by this statistic, corporate tax accounting teams already spend an enormous amount of time and money cleansing and manually rekeying data before it is integrated with finance systems. Based on recent surveys, 71% of IT departments say that operational reporting currently costs at least one day per week (on average).
Withum
JUNE 24, 2022
Did the taxpayer calculate gross receipts correctly, as such term is defined in §448(c) (or §6033 for tax-exempt entities)? Recall the taxpayer should use the same method of tax accounting — cash or accrual, that it used for tax purposes for the relevant tax year. Business Tax Services. Contact Us.
Cheap Accounting
FEBRUARY 4, 2022
You would do this in two places: Via your Business Tax Account with HMRC for VAT, Self Assessment, PAYE and Corporation Tax. If you do not have a Business Tax Account then this really is the time to get one. How to get a Business Tax Account.
CPA Practice
NOVEMBER 6, 2023
Best Individual Tax Update 2023 , which takes place December 14 from 8:00 AM – 3:45 PM. Best Business Tax Update 2023 , which takes place December 15 from 8:00 AM – 3:45 PM. They are among 36 chosen nationally to be included in the Academy’s 15th graduating class. Fees are $310 for ISCPA members and $410 for non-members.
xendoo
MAY 8, 2022
For example, you may go a step further and factor in the EBIT (earnings before interest and taxes), depreciation, amortization, rent, and business taxes into the equation. This will give you your business’s net profit for the period. For example, let’s say your business had total revenue of $100,000 in a year.
xendoo
JANUARY 6, 2022
While the salary is subject to self-employment taxes, the distributions are exempt, which allows S-Corps to avoid double taxation. . It is always best to speak to a small business tax accountant. They will get to know your business, and determine if S-Corp Election is right for you. .
Basis 365
MARCH 6, 2022
While we may not be tax accountants , we, too, look for ways to save money, and having tax write-offs is a great way to save your business some money. In that sprint, we’ve devised a list of some common tax write-offs that you might consider when preparing your taxes this season.
ThomsonReuters
MARCH 7, 2024
Any property that is subject to the rules of QIP and is leased by a single tenant now falls under the rules for QIP for tax accounting purposes. Improvements must explicitly exclude expansion of the building, elevators and escalators, and changes made to a building’s internal structural framework.
Withum
JANUARY 8, 2024
Method of Accounting Many have been waiting for clarification surrounding the IRS administrative procedures that should be followed in order to adjust 2022 federal taxable income to follow the IRS interim guidance provided in Notice 2023-63 and, more recently, Notice 2024-12.
MazumaBusinessAccounting
FEBRUARY 1, 2023
With all the help accountants can provide, it’s no wonder why accountants are a business owner’s best friend. A small business accountant can maintain the books, analyze financial results, file business taxes, and consult with owners to expand the business’s bottom line.
Menzies
JANUARY 20, 2023
We’re devised this ‘Finance Directors’ tax toolkit’ to highlight the ways in which Menzies often help large and multinational companies including business tax, employment solutions and innovation incentives (e.g. Click each heading below to expand each section on the toolkit.
ThomsonReuters
NOVEMBER 8, 2022
Cloud-based accounting technology offers the ability to share data and documents directly via private accounts, automatically extract data from client source documents, or easily transfer account balances from integrated business tax preparation software. . Shift to an advisory services model .
MyIRSRelief
JANUARY 16, 2023
When choosing a tax preparation service, it’s important to do your research. You should also look for a licensed EA enrolled agent, CPA certified tax accountant or tax lawyer, do not get in trouble with unlicensed tax preparers that cannot represent you if audited.
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content