Members of Congress request estimated tax deadline postponement
April 16, 2021
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TweetShareSharePin0 Shares News Procedure & Administration By Alistair M. Nevius, J.D. In a letter to IRS Commissioner Charles Rettig on Wednesday, a diverse, bipartisan group of 60 members of Congress urged the IRS to extend the deadline for first quarter 2021 federal estimated tax
How to claim the employee retention credit for the first half of 2021
April 16, 2021
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TweetShareSharePin0 Shares The IRS explained the changes to the employee retention credit (ERC) for the first two calendar quarters of 2021 in Notice 2021-23, which amplifies Notice 2021-20. The credit was created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L 116-136,
Expense to delay approximated tax obligation due day to be presented in Congress
April 16, 2021
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TweetShareSharePin0 Shares On Thursday, Rep. Lloyd Smucker, R.-Pa., revealed he will certainly present a costs that would certainly delay the due day for first-quarter 2021 approximated tax obligation settlements from April 15, 2021, to May 17, 2021. The approximated tax obligation due day would certainly
IRS explains which meals qualify for temporary 100% expense deduction
April 16, 2021
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TweetShareSharePin0 Shares News Expenses & Deductions By Sally Schreiber, J.D. The IRS released guidance on Thursday explaining when the temporary 100% deduction for restaurant meals is available and when the 50% limitation on the deduction for food and beverages continues to apply for Sec.
IRS explains new treatment of excess premium tax credits
April 16, 2021
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TweetShareSharePin0 Shares The IRS announced on Friday that taxpayers who may have had excess Sec. 36B premium tax credits to report for the 2020 tax year are not required to file Form 8962, Premium Tax Credit, or report an excess advance premium tax credit
IRS extends penalty relief for pandemic payroll credits
April 16, 2021
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TweetShareSharePin0 Shares To continue to allow employers to take immediate advantage of various credits enacted in response to the COVID-19 pandemic, the IRS is permitting eligible employers who pay qualifying wages to retain an amount of the payroll taxes equal to the amount of
Tax Reform Podcast Library
April 16, 2021
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TweetShareSharePin0 Shares Listen to leaders in the CPA profession discuss the latest developments and hot button topics related to tax reform from the AICPA Tax Section. Source link TweetShareSharePin0 Shares
Partnership Audit and Adjustment Rules FAQs | Resources
April 16, 2021
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TweetShareSharePin0 Shares This series of frequently asked questions (FAQs) provides answers to questions we are hearing from our members about the centralized partnership audit regime under the Bipartisan Budget Act of 2015 (BBA). ALERT: The IRS announced in Rev. Proc. 2020-23 that BBA partnerships,
Filing protective claims for refunds – Affordable Care Act (ACA)
April 16, 2021
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TweetShareSharePin0 Shares Learn more about filing a protective claim for refund related to the individual mandate under the Patient Protection and Affordable Care Act. Source link TweetShareSharePin0 Shares
Document Retention FAQs for Tax Practitioners | Resources
April 16, 2021
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TweetShareSharePin0 Shares 1 month ago · 5 min read This series of frequently asked questions (FAQs) provide guidelines for tax practitioners to consider when preparing a written document retention policy for their firm. Additional guidance is provided to help practitioners advise their clients on
